The Pontiac Silverdome will be demolished beginning in the spring after the property failed to sell for its $30 million asking price, the property broker said Thursday.
“There are plans to begin demolition on the Silverdome in the spring of 2016,” said Kristie King, a broker with CBRE, representing property owner Triple Investment Group.
The broker was expected Thursday evening to present to the Pontiac City Council plans for the 127-acre former home of the Detroit Lions.
Triple Investment Group is a Michigan-based company led by a Canadian developer. The investment group bought the site in 2009 for $583,000 at auction from Pontiac’s emergency financial manager as the city sought to get rid of its costly, city-owned properties.