The new owner of the Packard plant has employed a security company to protect the property. Fernando Palazuelo plans to build a stronger fence to stop criminals and other individuals. Then he will begin the huge job of removing collapsed buildings and small mountains of old car tires.
Mr. Palazuelo started his property development business in Spain. He sold and bought houses. Then, during the international economic crisis of , he lost everything. He moved to Lima, Peru. The businessman bought old structures in the historic center of the Peruvian capital. He redeveloped the buildings and persuaded people to live and work in them. He says his experience in Lima will help him in Detroit.
Mr. Palazuelo believes it will cost around $350 million dollars to save some of the old buildings and develop new structures. He wants to create space for new factories, offices, and homes. He also plans to include performance and art spaces. He estimates it will take between 10 and 15 years to redevelop the Packard Plant.
This has been a special As It Is program about a part of America that was once called the industrial heartland. It was a manufacturing center like no other. The people of Detroit, Michigan, are proud of their history, and dream of a day when their hometown will once again help drive America forward.
Thank you for listening. There are more Learning English programs coming your way in less than a minute. And there is world news at the beginning of the hour on . Im Jim Tedder in Washington.
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