AURBURN HILLS, MI (WILX) -- The former home of the Detroit Pistons only has a few months of life left.
Pistons' owner Tom Gores and Schostak Brothers and Co., a Livonia-based real estate firm, announced Monday that The Palace of Auburn Hills will be demolished in the fall, according to an article by Detroit Business.
The Palace has been sold to a joint venture that plans to redevelop the 100-acre property into a mixed-use office park.
“We promised the people of Auburn Hills and Oakland County that we would find a solution that would be good for the community and make a positive economic impact,” said Gores. “Partnering with a proven, well-respected developer like Schostak Brothers is an important step in delivering on that promise," according to Detroit Business.
The arena opened back in 1988 with a Sting concert and hosted its last event, a Bob Seger concert, in September of 2017.
The Pistons now play at the Little Caesars Arena in downtown Detroit.
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