In 2016, Tresor Founder Dimitri Hegemann had set his sights on opening a club in Detroit. He made plans with the Packard Automotive Plant‘s current owner, Fernando Palazuelo, to include the venue in the building’s mixed-use development – but it has come to light that Palazuelo made plans to sell it two months ago.
Palazuelo had acquired the building in a tax foreclosure auction in 2013 and made plans for a sweeping renovation. Over the past seven years, however, he fell behind on taxes and other bills, not to mention that the Packard Plant bridge over East Grand Boulevard collapsed in January 2019. According to Crain’s Detroit Business, Palazuelo enlisted the brokerage house Newmark to help him market the property to prospective buyers in October.
The firm plans to demolish the historic building. “When we get customers, we will raze the structures and develop new properties,” said Newmark Senior Managing Director Larry Emmons.
“[Palazuelo] wishes that the administrative building on the north side of East Grand Boulevard be maintained, but it’s going to turn on the customer’s needs” he went on. “There is definitely going to be demolition and new construction.”
It remains to be seen whether Dimitri Hegemann will seek out another Detroit space for a nightclub at the time of writing.
