Crain's Detroit Business reported on Sept. 30 that Detroit Pistons owner Tom Gores and Detroit Red Wings owners are discussing relocating the team to downtown Detroit from the Palace of Auburn Hills, where the team has played since 1988.
This could be troubling news for Auburn Hills.
Crain's Detroit Business writer Bill Shea speculates on the impact such a move could have on the concert industry, noting that it would likely siphon business away from the Palace in favor of the new Little Caesars arena.
After the Lions moved to downtown Detroit’s Ford Field in 2002, the Silverdome began to decline rapidly. It was said to be slated for demolition this year, but that hasn't yet happened.
“It’s just now a blight, and it’s bringing down property values and perceptions of the city, so we would support the demolition of that facility at this point,” said Kyle Westburg, president of West Construction Services in a 2015 Detroit News article.
But as John Gallagher writes in the Detroit Free Press, the Palace may not face the same fate as the Silverdome.
That's because land in Auburn Hills enjoys strong demand as R&D space and corporate headquarters.
Gallagher talked to realtor John DeGroot, who noted that of 1,200 industrial properties more than 20,000 square feet, only 30 are vacant in the strong Oakland County R&D real estate market.
That bodes well for Auburn Hills' future.
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