Fall 2019: Palace Of Auburn Hills Set To Be Demolished
AUBURN HILLS, Mich. (CBS DETROIT) – The Palace of Auburn Hills is set to be demolished this fall and its surrounding land will be redeveloped by Detroit Pistons Owner Tom Gores and Livonia, Mich.-based Schostak Brothers & Company.
Financial terms were not disclosed but the future mixed-use development is expected to include corporate offices, research and development and technology companies.
“We promised the people of Auburn Hills and Oakland County that we would find a solution that would be good for the community and make a positive economic impact,” said Gores. “Partnering with a proven, well-respected developer like Schostak Brothers is an important step in delivering on that promise.”
The Pistons organization is preparing to move its remaining team and business operations from The Palace to the new Henry Ford Detroit Pistons Performance Center in Detroit, which is on schedule to be completed this fall. A specific timeline for the development has not been announced.
Auburn Hills Mayor Kevin McDaniel lauded the sale and subsequent partnership between Schostak Brothers & Company and PS&E as a ‘win-win-win’ for the City of Auburn Hills, its business community, and its residents.
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