Palace of Auburn Hills Sold, Demolition This Fall to Make Way for Tech, Office Development

Excerpt: The Palace of Auburn Hills site has been sold for an undisclosed price to joint venture and Livonia-based developer Schostak Bros. & Co. with plans to build more than 1 million square feet of new development in place of the 22,000-seat arena.

Demolition of the Palace is expected to begin this fall, Crain’s Detroit Business is reporting. Officially, there’s no set timeline for the development yet, according to a statement released by Palace Sports & Entertainment. Representatives for Schostak Bros. & Co. could not immediately be reached.

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