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Ownership Dispute Slowing Down Packard Plant Re-Development

 
Ownership Dispute Slowing Down Packard Plant Re-Development
Posted Wednesday, March 5th 2014 @ 6am  by The Associated Press

The owner of Detroit's blighted Packard car plant complex says his redevelopment efforts have been delayed by a dispute with an ex-owner.
 
The Detroit Free Press reports  that Dominic Cristini wants Fernando Palazuelo to pay for a piece of the land that Cristini says he still technically owns. Cristini says he could make a claim of ownership over most of the property.
 
Palazuelo, a developer from Peru, bid $405,000 for the property last year during a tax foreclosure auction. He says Cristini wants $3.5 million and calls it "typical blackmail."
 
Cristini's adviser, David Wax, said there are others who also can lay claim to some parcels.
 
The plant was built in 1903. The last Packard automobile was built there in the mid-1950s. Smaller industrial businesses used it afterward.

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