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The Silverdome - sold for a plate of beans
It's a good time to buy real estate - and sports arenas!
The phrase dirt cheap doesn't do justice to the Pontiac Silverdome selling for $ 583,000. That's a huge sports arena for the cost of two to three homes. With that good a deal, they probably won't need mortgage loan modification. The winning bidder was a real estate firm from Canada, based in Toronto, but the name hasn't been released yet. They had the best bid, but the sale hasn't been entirely finalized. According to an article from the Detroit Free Press, it was costing the city of Pontiac about three times that much just to maintain the place per year, and the Detroit area isn't exactly the land of milk and honey lately.
The former loud and proud home of Detroit Sports
A local college professor and high school sports star, C. Don Davidson was the brain behind the whole thing. He grew up in the Detroit area, and when he returned in 1965, he was surprised to see how the Pontiac area had declined since his absence. He thought the Lions would love a new stadium. The Architecture Department of the University of Detroit hired him in 1966. (The Jacksonville International Airport had been some of his earlier work, as he held a Masters in Urban Planning and Architecture.) Davidson wanted to renew the city of Pontiac, and part of that was a new sports stadium. He got the ball rolling for the Lions moving to Pontiac by talking to William Clay Ford about a new stadium. In 1970, the stadium was approved for Pontiac, and Davidson was hired as Chief Project Designer by O'dell, Hewlett, and Luckenbach, the design firm in charge. The stadium was compeleted by 1975 for just under $ 56 million. They had been sharing Tiger Stadium with the Detroit Tigers, but by fall of 75 their new home, Pontiac Metropolitan Stadium was ready, and they left.
Why call it the "Silverdome?"
The top of the stadium was made of fiberglass coated with Teflon, which is white to the naked eye, but silver with reflection from the sun. The roof of the stadium, prior to a 1985 refurbishing, was supported entirely by natural internal air pressure.
From the '70s until recently
In 1978, the Detroit Pistons moved in, and shared the building with the Lions until 1988. It was the largest NFL stadium until 1997, and still is the third largest stadium in America, with seating available for 90,000 in total, if configured for NFL games seating for 80,000 (The Cowboys have the largest NFL stadium currently in Cowboy Stadium, and second is the Redskins and Fed Ex Field.) The Lions moved out in 2001 to Ford Field. It sat empty since then, though from 03 to 06, the parking lot was used as a drive in cinema.
The Present
The Silverdome has been host to many events, including WrestleMania III, the sporting event with the largest attendance ever (the record still stands). It's also a legendary concert venue - you name the huge band, chances are they've already been there twice. It was put up for auction in October 2009, by the city of Pontiac. The new owners are said to be bringing Major League Soccer to the Silverdome, their new huge building they got for next to nothing. Granted, they paid more than a payday loans, but they got an incredible deal.
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