DETROIT – The old Detroit Free Press building downtown has a new international owner.
Chinese investor group DDI was the highest bidder in an auction this past month at $4.2 million. DDI is planning a $50 million redevelopment of the building that would include ground-floor shopping and about 150 apartments.
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Work is expected to begin next year and finish by late 2015.
DDI also bought the David Stott building.