Podcasts & RSS Feeds
Most Active Stories
- This ballot proposal is critical to Michigan's economy, but most people won't bother to vote on it
- Don't like the water shut-offs in Detroit? Now you can pay someone's overdue water bill
- Approaching construction on the highway? Experts say the "zipper merge" can help
- Some think their immigrant ancestors were the last that should be allowed in the U.S.
- Michigan Republican Party's tactics remind me of Watergate, because both were unnecessary
Tue July 3, 2012
Feds to auction Lafayette Towers in Detroit
The Detroit landmark Lafayette Towers has fallen into foreclosure and is set to be auctioned by federal authorities in two weeks.
The Detroit News says financial details were not immediately available in the notice posted by the U.S. Dept. of Housing and Urban Development.
Successful bidders on the luxury high-rise will need to post more than $2.5 million in escrow for an estimated $10 million in repairs required to be completed in 18 months.
The apartment towers were constructed in the 1960s. The two 22-story, river-view buildings contain 584 units located on nearly 10 acres in the Mies van der Rohe Residential District.
The auction is set for 10 a.m. July 18 in the first floor of the Coleman A. Young Municipal Center.