Thursday, May 24, 2007

Brokers, Pontiac work to overcome Silverdome's losing record |

Brokers, Pontiac work to overcome Silverdome's losing record |
 Published: Thursday, May 24, 2007, 8:38 AM     Updated: Thursday, May 24, 2007, 10:47 AM

"...But bringing a buyer to the table may be the easiest part of trying to sell the former home of the Detroit Lions. The seller, the City of Pontiac, is notorious for slowing, stalling or killing deals. Just two years ago - before the property was formally transferred from a stadium authority to the city - Etkin Equities and Schostak Brothers/Danou Enterprises made $20 million offers, but the developers walked away as city leaders squabbled."

Nonetheless, the brokers are optimistic - and ready to go.

"We're taking all offers to the city. Our feeling is they are open to anything," says Myrna Burroughs of CB Richard Ellis. "Anything but a casino."

More potential than Lions?
CB Richard Ellis has sent fliers to some 11,000 potential land buyers, Burroughs says, and is expecting city approval soon for its marketing website and the final version of the request for proposals.

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