A ceremonial groundbreaking has been held to kick off redevelopment of the massive Packard auto plant on Detroit's east side.
Arte Express Detroit spokeswoman Kari M. Smith said crews on Tuesday are working on the project's first phase and will remove debris and grind floors at the structure's 121,000-square-foot administration building.
Arte Express Chief Executive Fernando Palazuelo bought the complex in 2013 for $405,000 at a tax foreclosure auction. He wants to turn it into apartments, retail shops and art galleries.
Renovating the entire 3.5 million-square-foot (0.33 million sq. meter) site is expected to take up to 15 years at a cost of $500 million.
The Packard Automotive Co. built the plant in 1903, but by 1954 the structure had become obsolete and Packard car production was being done elsewhere.
