Millions Lost in Real Estate Boondoggle

What Would Williams-Brice or Death Valley Sell For?
The first three times I read the number I didn’t see what the big deal was. When it finally registered in my brain I jumped out of the kitchen to look for the nearest laptop. The $$$ they received for this building is absolute insanity and a terrible example of someone missing the mark.
Things will get worse if the entity that financed the Silverdome receives any federal stimulus money as a result of this financial boondoggle.
As far as selling price goes, this is almost like Williams-Brice or Death Valley selling for roughly the same amount as a 4 bedroom house in King’s Grant, Heathwood or Shandon. FJ
From Zillow Tweet – Last month, it was announced the Pontiac Silverdome would be auctioned off. The auction happened and the winning bid was… drum roll, please… $583,000.


Right, not a typo folks — $583,000 for an 80,31-seat sports arena, on 127 acres in Detroit!

According to the Detroit Free Press, the winning bidder is someone from Toronto who has plans for an indoor soccer team.

The clincher of this story?

In 2005, suburban developers offered nearly $20 million for the Silverdome, but the deal fell apart as the city delayed taking the offer. And last year, a $17.5-million plan to turn it into a horse racetrack, hotel and conference center also fell through.

Too bad Detroit’s city execs failed to remember the mantra about the first offer being the best offer.


  1. one good Eminem concert should pay for the place,

  2. The building is located in Pontiac, Michigan…not Detroit. Detroit has the new Ford Field. But heck of a deal. Only problem, the Lions used to play there…talk about a losing aura!!
    But comparing the Silverdome to a college stadium is apples to oranges. I heard there were plans to turn it into a casino at one time.

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