Packard Plant sells at auction for $6 million
Updated On: Oct 26 2013 04:18:17 AM EDT
The Packard Plant has a new owner.
For years the abandoned auto plant has been the symbol of decay and deterioration in Detroit. It was sold at auction Friday evening.
The opening price was $227,000 but after a late rush the price skyrocketed. The winning bid was just more than $6 million to a Texas woman.
There is no word on what the woman plans to do with the property.
Construction on the plant was completed in 1911. It was home to the Packard Motor Car Company and later the Studebaker-Packard Corporation.
It has sat mostly vacant for decades.