Chicago Investor Buys Dilapidated Packard Plant In Detroit

(CBS) -- A Chicago investor is hoping to transform a Detroit eyesore. The story from WBBM's Regine Schlesinger.

Bill Hults of Evanston wants to buy and redevelop the 40 acre site that house a Packard Plant until the late 1950s. It since has become a junkyard for scrappers, graffiti artists and urban explorers.

Hults tells Detroit TV station WXYZ he has a different vision.

"You look at this and 3 million 500 square feet of ugly and we are going to take it and we are going to turn it into something very, very special," said Hults.

Hults hopes to build what he calls the "Villages of Packard," a grand vision for a dilapidated parcel that constitutes a symbol of the Motor City's decline over the past few decades.

In:
• Detroit