DETROIT - The deal to purchase Detroit's old, vacant and decaying Packard Plant is still up in the air after a Chicago-based developer asked for an extension.
William Hults initially offered to buy the plant off of Wayne County for about $2 million. He made a $100,000 deposit on Friday with the rest of the payment due on Monday.
However, Hults asked for an extension on Monday while offering up another $300,000 payment in the meantime. Still, Wayne County says it never received that payment and plans to take up the issue on Tuesday morning.
A Texas investment group originally won the bid for the site, planning to pay about $6 million for it. Wayne County leaders canceled that deal because of "failure to perform."
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