Pontiac has Silverdome up for final auction

The white, err… silver, elephant in Pontiac’s room appears to finally be on its way out.

The
city has begun the auction for the Pontiac Silverdome. A deal for its
sale and redevelopment is expected to be nailed down later this year.
The online auction, which ends Nov. 12, can be found here.

The
Silverdome has been a millstone around the city of Pontiac’s neck ever
since the Detroit Lions left it for Ford Field earlier this decade. A
number of proposals have been developed and floated over the years, but
all eventually floundered while the city paid millions to maintain the
building.

Pontiac was taken over by an emergency financial
manager earlier this year to help straighten out the city’s books. One
of the first things on the agenda was to move forward on resolving what
to do with the 80,000-seat stadium and surrounding 127 acres.

The stadium was built in 1975 for $55 million at I-75 and M-59. It
served primarily as the home of the Lions for 27 years. The Pistons
also played a few seasons there. A Super Bowl and World Cup soccer
matches also passed through the facility.

Source: City of Pontiac and Williams & Williams Commercial Real Estate
Writer: Jon Zemke