Detroit’s Packard Plant owner in his own words: ‘Sorry, I’m not a millionaire’ and ‘I still have very big debts’

Tanya Moutzalias | MLive.com
Tanya Moutzalias | MLive.com

“DETROIT, MI – The scene is a gaudy palace in Spain, decked out with Ferraris and all the luxury items.

Fernando Palazuelo, who owns the crumbling and blighted 3.5-million-square-foot Packard Plant, described the setting as his home, his Iberian lifestyle. He accumulated the wealth after successfully developing parts of Madrid, Barcelona and Palma de Mallorca.”

 

http://www.mlive.com/business/detroit/index.ssf/2014/06/detroits_packard_plant_owner_i.html

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