Did you miss your chance at owning a stadium? At Auction: Aging property. No tenant. 1.5 million a year upkeep. In economically depressed area. Former home of the Detroit Lions and Pistons. Greats like Elvis, Michael Jackson, The Who and even the Pope have graced its stage. The Pontiac Silverdome. $583,000.
The Pontiac Silverdome in Pontiac, Michigan sold for about 1% of what it took to build the venue in 1975. Triple Properties, Inc, a Toronto based company, purchased the Silverdome at auction on Monday, November 16th for $583,000.00. "The price was right and I bought it," Andreas Apostolopoulos, CEO of Triple Properties Inc., said Thursday.
The price it fetched was a big disappointment to the city of Pontiac. The city will walk away with only $420,000 on the deal. That's far short of the millions it was looking for. The once mighty Silverdome with its 7 attached acres sold for less than many single family homes.
Read about the Sale
The Auction Site with Tour of the Silverdome
Friday, November 20, 2009
Thursday, November 5, 2009
Yankee Stadium's Beauty in the Eye of the Beholder?
Last night the New York Yankees christened their new park by bring home the World Series Championship to the new house. By most accounts, the new Yankee Stadium is a hit (no pun intended), but not everyone agrees. I came across an interesting site, Deadspin.com that has a weekly feature titled "Why Your Stadium Sucks". This week's featured venue? You guessed it, New Yankee Stadium. The author, Tommy Craggs, gathers commentary from an architect, an urban planner, a season ticket holder and more to point out the ugly side of the new field. Agree or disagree, it's interesting to read all the perspectives. Read Article
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