The city's broker, CB Richard Ellis, said in a statement Mondaythat the deadline for new proposals is now Jan. 16 at 5 p.m.Proposals must be delivered to the company's Southfield, MI-branchwith a deposit of $100,000 made out to Greco Title, according tothe statement. This time, the city is requiring applicants to sendin proof of financing or proof of funds to be sent to David Domzalwith Williams Acosta, the city's attorney firm for this sale.


Local attorney H. Wallace Parker had submitted the most recentwinning bid for the Silverdome, once famous for being the firstdomed stadium with a top held up by air pressure. Parker, throughhis firm Silver Stallion, had proposed to pay $20million for the site for a $200 million racing track complex,but he never gained a license. Parker did not finish negotiationswith the city within a required November deadline, and there werereportedly claims by both him and Pontiac that the site may holdspilled diesel fuel. A spokeswoman with CBRE refused to answerquestions about the new bids, or what happened to Parker's claim tothe property. Parker also did not return a call for comment.


It hasn't always been the city's fault; some bidders, with plansranging from retail centers to entertainment facilities toindustrial parks, have backed away from plans at the last minute.Other times city officials have denied all bids and repost the RFPagain. With the new question of environmental cleanup, coupled withmany developers plans to pullback on new projects, it's not lookinglike a Silverdome solution will be found this decade; though thecity has reportedly promised the sale funds to pay back advancestaken from other city funds used for operational costs.

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

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