The Palace of Auburn Hills officially opened for business on August 13, 1988.Photo: Aaron Caldwell
Now, according to a report from Crain's Detroit Business, the former home of the Detroit Pistons has been sold and will be demolished this coming fall.
From Crain's Detroit Business:
Livonia-based Schostak Bros. & Co. and Detroit Pistons owner Tom Gores would not disclose financial terms of their JV deal that is expected to result in a cleared 110-acre Palace site with about 80 acres of buildable land for more than 1 million square feet of mixed-use tech, office and R&D development.
This marks the first time that people directly tied to the property have publicly said it is to be razed.