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Theater Owner Sells Detroit Retail Land for New High School

DETROIT-Joe Nederlander's hotel idea is no longer viable as a lawsuit over racetrack at Michigan State Fairgrounds drags on. A new high school and store will be built at the corner of Eight Mile Road and Woodward Avenue.

By Robert Carr | Updated on February 07, 2001

DETROIT-Joe Nederlander, who began leasing and operating the Michigan StateFairgrounds in October, is selling 35 acres of neighboring retail land to the school district. The Detroit Public Schools is buying the land at the corner of Eight MileRoad and Woodward Avenue for $17 million, and plans to construct a new highschool on 24 acres.

The rest of the land will be sold to a national retailer for store construction, said district officials.

Nederlander bought the 35 acres of land for $6.1 million from the state as part of the lease of the fairgrounds. He said he sold it to a real estate investment trust for $10.5 million after local residents and four cities, including Detroit, Ferndale, Pleasant Ridge and Huntington Woods, filed a lawsuit to prevent the construction of a Grand Prix racetrack at the fairgrounds.

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