The investment in the world's largest Masonic Temple, in the Cass Corridor, is being driven by a team of state and city economic power brokers who are working on the financing and declare the deal could be done by year's end, according to information that was posted online by the Michigan Magnet Fund.
"At this stage, it is expected the project will be able to close in six to eight months," according to the memo, written about a month ago, by the Magnet Fund. It's not clear how long the memo was online, but it was removed Friday after The Detroit News made telephone calls to fund officials.
Plans call for a $9.3 million parking garage, as well as $5 million in inside upgrades that include a new geothermal heating system and more women's rest rooms.
The 14-story complex has 1,037 rooms and multiple theater and entertainment venues. Jack White last month played two sold-out concerts at the temple's rarely used Scottish Rite Cathedral.
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