December 11, 2012 by Benji
John Gallegher of the Detroit Free Press posted an interesting article today about John Hantz and his family of companies which includes Hantz Farms and Hantz Woodlands. The Detroit City Council voted 5-4 to approve their purchase of 1500 lots in the city for $520,000. People are complaining and calling it a “corporate Land Grab”.
Honestly, what the heck are they talking about? just a few weeks ago, there was a public tax auction. Anyone could bid on a lot for a minimum bid of $500. Think about it this way, 1500 lots for $520k is $346.67 per lot. Take a look at any wholesale bundle of real estate. There is normally a much steeper discount.
If Hantz is paying cash (yes) and they are going to clean up any debris right away (yes) then why would you not want Hantz to buy the land. The idea that this is a “corporate land grab” is insane.
I think that the only thing that Hantz needs to show us citizens and the city is that they can keep the forest and farms safe. 140 acres is a lot of space to hide.
Best of luck Hantz crew, most of us wish you the best.