The Palace of Auburn Hills — the Detroit Pistons’ former home — is coming down this fall.
The Pistons organization announced Monday that The Palace has been sold to a joint venture involving team owner Tom Gores and Livonia-based developer Schostak Brothers & Co., which plans to redevelop the roughly 100-acre property as a mixed-use office park.
The Palace itself is to be demolished sometime in the fall. The method of demolition is still to be determined, sources said, and there is a possibility that there will be a public auction of Palace items, fixture, equipment and memorabilia.
The Palace underwent $40 million in renovations, including new seats and refurbished floors, only a few years before closing.
The Palace opened in 1988 with a Sting concert and hosted its last event, a Bob Seger concert, in September 2017. The Pistons moved in fall 2017 to the new Little Caesars Arena in Detroit, although the team’s offices stayed at The Palace.
The Pistons organization is preparing to move the last of its business operations out of The Palace and to the new Henry Ford Detroit Pistons Performance Center in Midtown Detroit, which is on pace to open later this year.
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