Earlier this month, the council rejected another seven bids thatwere made in October with plans that included a convention center,hotel, stores, offices, theaters, housing and even racetracks andaquariums, by companies such as Danou Enterprises. It's not clearhow many proposals the council has already rejected in the fiveyears, but the number is at least more than 20, and could be morethan 30.

|

Now, CBRE says the city has received five more proposals topurchase the site, and one lease plan. The submissions werereceived from Stuart Frankel Development Co., United AssuranceCo./International Synergy Holding Co. Ltd., US Hospitality Inc.,Global Baseball Inc., Silver Stallion International LLC and, again,Danou, under the cover of the company Smart Park International LLC.The proposals reportedly include a roughly $500-million plan byUnited Assurance to build a video-game/live broadcast theme park,and office parks and retail developments.

|

Neither a spokeswoman with CBRE nor city officials returnedcalls for comment on the bid announcement. "The proposals will bereviewed immediately and the council is prepared to move quickly tosell the property," according to a release statement by CBRE.However, the city has made similar pledges after bid announcementsfor the past five years.

|

The 80,000-seat Silverdome was impressive in its heyday, openedin 1975 as one of the largest football stadiums in the country andlocated in the prospering seat of Oakland County, one of therichest counties in the US. However, as automotive jobs leftPontiac and the state, the urbanized city died out with othersimilar communities such as Flint and Saginaw, leaving blight, highcrime and joblessness. While General Motors has reclaimed part ofits niche in the area, most of the city is struggling…with amultistory office building selling recently in the Downtown forjust $1.3 million. A successful redevelopment project for the127-acre Silverdome site could be the catalyst to bring the city inline with neighboring Auburn Hills, the home of the Chryslerheadquarters…if Pontiac leaders ever decide on a project.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.