It looks like Mies van der Rohe’s Lafayette Towers in Detroit may avoid the auction block a little longer. The Department of Housing and Urban Development (HUD) foreclosed on the high-rise apartment buildings in February, and HUD had planned to put them up for auction this month (albeit with a litany of multi-million-dollar renovations required of the lucky winner).
Detroit exercised its first right of refusal on that course of action, wary of the iconic towers falling into the wrong hands. New York-based Northern Group bought the buildings in 2008 for $16 million in cash, but stopped making payments on its loans by 2010. The towers were transferred to HUD soon after. Now the city’s group for planning and facilities is seeking a private owner to bring the buildings back from disrepair.
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