Second-place bidder for Packard Plant pays deposit

Second-place bidder for Packard Plant pays deposit

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An aerial view of the Packard Plant An aerial view of the Packard Plant
DETROIT, Mich. (WJBK) -

Wayne County officials say the second-place bidder has paid the required deposit for the Packard Plant.

William "Bill" Hults came to the building around 4:45 p.m. Friday and made a nonrefundable payment of $100,000. Hults is to pay the remaining funds by Monday.

Hults is a developer from Chicago and owns Packard Detroit LLC. His bid of just over two million dollars came in second place after a doctor's bid from Texas of over six million dollars. Dr. Jill Van Horn failed to pay the deposit earlier this week.

If Hults pays the remaining funds and the deal goes through he hopes to turn the 35 acre site into a commercial, housing and entertainment complex.

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