Palazuelo Wants To Apply The Strategies He Learned In The Spanish Foreign Legion To The Packard Plant

In case you missed it Annie Murphy of Public Radio International interviewed Fernando Palazuelo who recently bout the abandoned Packard Plant.

Fernando Palazuelo
Fernando Palazuelo

The abandoned Packard Plant in Detroit is one of the most famous buildings to be sold after the city filed for bankruptcy. It’s famous both for its mammoth size — 40 acres in the eastern part of the city — and its state of ruin.

The plant has been closed for more than 60 years and aerial photos make it look like a scene from a disaster film.

But that doesn’t seem to daunt Spanish developer who lives in Lima, Peru. He recently bought the Detroit plant at an auction.

The day I met Palazuelo in Lima, he was dressed in cargo pants, loafers, and a white button-down shirt. It’s the sort of outfit a 20-year-old might wear to a summer internship. But Palazuelo is one of the largest property owners in downtown Lima.

He says he never dreamed he would find historic real estate even cheaper than what he paid here, back before Peru’s economic boom.

Read more and listen to the interview here


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