OT: Pontiac Silverdome

Submitted by bouje on

The Pontiac Silverdome was purchased by a Canadian company for a paltry 583k when it was built for 55.7m.

I just can't believe that it sold for this little. I know the housing market is bad, and commercial real-estate is terrible but... wow.

http://money.cnn.com/2009/11/17/news/economy/silverdome_buyer/

tdumich

November 17th, 2009 at 1:52 PM ^

however, the huge negative is the silverdome itself. you have to consider demolition and removal of this structure in to the cost. the group that won is supposedly considering an mls franchise and there is no freaking way they could end up playing in that thing.

The Bugle

November 17th, 2009 at 1:57 PM ^

Personally, I think this would be awesome to have an MLS team. IME I don't think they would completely demolish the dome. I know there is no way to keep it as is, as an MLS team wouldn't draw enough people to even make it 1/8 full. OTOH, I don't think Pontiac/Detroit is enough of a soccer market that the team could afford to pay for the construction of a brand new stadium.

The Bugle

November 17th, 2009 at 2:43 PM ^

I'm not so much questioning the interest, but the economic viability of building a new stadium. I hope it's a viable proposition, because a new stadium and new economic opportunities in Detroit/Pontiac would be great, but if we have trouble filling all the seats at Joe Louis, I am worried about the proposition of filling seats in a non-big four sport.

That being said, as a big soccer fan I hope it works out and the popularity of soccer continues to boom in America and Michigan.

st barth

November 17th, 2009 at 2:06 PM ^

...that's a pretty good result. i remember when they opened this up for bids a couple of months ago that they were hoping to get $500k.

GOBLUE4EVR

November 17th, 2009 at 2:38 PM ^

the place looked like a hole... much worse then it did when the lions were still playing there. i worked around the corner from it for 2 years and drove by it at least another 10 times a year to get to my aunts. and it looked worse and worse every time. at one point they were selling used cars in the parking lot.

jmblue

November 17th, 2009 at 4:00 PM ^

Has the city of Pontiac finished paying it off yet? (They're lucky at least that the place was built before construction costs skyrocketed.)

MGoBlue22

November 17th, 2009 at 4:56 PM ^

Over last few years the City of Pontiac had offers for the Dome in the neighborhood of $17-$20 million. A $500k sales price is disappointing. HOWEVER, at least they don't have to pay the $1 million + yearly maintenance costs.

KaseyP

January 5th, 2010 at 5:50 AM ^

You can buy a new car for a used car price if you don't mind buying Saturn. The discontinued car brand, not the planet – obviously. General Motors axed both Pontiac AND Saturn and has pulled a fast one on dealers, turning over ownership to them, which doesn't make a lot of sense, because dealerships can now classify them as "used" or rather, have to, for cars that have only been driven on test drives at most. Dealers will get up to $7,000 to put the cars in rental or service fleets – essentially paying them to take the cars, but why not just sell them at a deep discount? Last time I checked, GM needed a serious short term loan or two to stay open. I hope that this could help you guys!! For those car lovers out there!!