A Peruvian Investor Walks into a Packard Plant: A Guest Post by Mark Binelli

“A Peruvian investor recently purchased the Packard Plant, the iconic Detroit ruin, closed since the nineteen-fifties and sprawling over 40 acres. Fernando Palazuelo, the proud new owner, forked over $400,000 for the factory, which he described to Bloomberg News as ‘the best opportunity in the world.’ He plans to live on the premises, with the future rehab transforming the mouldering site, in the words of the article, into ‘a vibrant hub of automotive suppliers, offices, shops, lofts and maybe even a go-kart track…'”