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Investors Buy Downtown Building for $500,000

DETROIT-The sale of the 42,000-sf building is part of the city's effort to revitalize city-owned properties. A group of investors led by former Detroit Lions player Robert Porcher plans more than $4 million in renovations.

By Dan Heaton | Updated on March 02, 2005

DETROIT-A group of investors has purchased a 12-story Albert Khan-designed building at the corner of Woodward and Congress and plans to redevelop it. The group, led by former Detroit Lions player Robert Porcher, is purchasing the historic Vinton building from the city for $500,000.

The group plans to convert it into lofts and commercial space. The terra cotta building was built in 1917. The sale of the building is part of an effort by the city to sell its properties to developers who can turn them back into productive properties.

Porcher says work will begin on the building this spring, but that it will not be finished prior to the Major League Baseball All-Star Game in Detroit in July or the Super Bowl at Ford Field next February. The building will open in 2006.

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