Andreas Apostolopoulos

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Andreas Apostolopoulos
Ανδρέας Αποστολόπουλος
Born
Kalamata, Greece (1952)
ResidenceToronto
NationalityCanadian
Occupationbusinessman
Net worthIncrease $3.9 billion (2018)
Board member ofChairman & CEO of Triple Group of Companies

Andreas Apostolopoulos (born in 1952) is a Greek-Canadian billionaire businessman, primarily concentrated on real estate investment and redevelopment. He is best known for his ownership of the Silverdome in Pontiac, Michigan. Apostolopoulos family are one of the richest Greek families in America and the richest Greek family in Canada.

Biography[edit]

Born in the port city Kalamata, Greece, Apostolopoulos emigrated to Canada in 1969.[1] Starting as a laborer and janitor, he progressed to owning small service and manufacturing companies, paving the way to commercial real estate investment and redevelopment. He is currently the chairman of Triple Group of Companies, based in Toronto, Ontario.[2]

Silverdome Purchase[edit]

Apostolopoulos made international news in 2009 when his investment company purchased the Pontiac Silverdome at auction for $583,000.[3] A low purchase price for an 82,000-seat stadium that had been constructed in 1975 for $55.7 million ($220 million in 2009)[4][5][6] Apostolopoulos's company Triple Sports and Entertainment had managed and operated the Silverdome as a sports and entertainment venue, investing millions of dollars to bring back the stadium to its original condition hosting many events, the first event at the Silverdome under his ownership was a monster truck and motorsports show on April 17, 2010.

The Stadium has since been imploded and will be completely demolished and prepared for future development.

Real Estate[edit]

Apostolopoulos is known for buying large industrial properties and redeveloping them into useful income producing assets.[1]

Durham Live Casino[edit]

Durham Live is a $1.3 billion entertainment district that is in the process of being developed in south Pickering in the Canadian city of Pickering, Ontario. The plan received approval for development in 2017. It will contribute $600 million in tax revenue and $1 billion towards Pickering's GDP and represents the largest private investment in Pickering's history. 61% of Pickering residents voted in favor of the development. According to Universal City Condominiums, a condo developer near the Durham Live development site, Durham Live will include "A World-Class Casino, Year-Round Indoor Waterpark, A Giant Amphitheatre (capacity of 16,000), State-of-the-Art Cinemas and Film Studio, A Five Star Restaurant Strip, Three Luxury Hotels, Shopping Mall, A Fitness Centre and Spa, a Botanical Garden, A Film Studio

References[edit]

  1. ^ a b Schwartz, Mattathias (July 29, 2010). "Dome Sweet Dome". BusinessWeek. Bloomberg. Retrieved October 11, 2011.
  2. ^ Walsh, Tom. "New owner's vision for Pontiac Silverdome: Big events", Detroit Free Press, March 11, 2010.
  3. ^ Girard, Daniel. "Toronto Developer snaps up vacant Pontiac Silverdome" Toronto Star, 11-24-2009.
  4. ^ Lewis, Al. "Selling the Silverdome for Shekels"[permanent dead link] FOX Business, 11-25-2009.
  5. ^ Hedgpeth, Dana. "Silverdome's bargain price reflects financial woes in Detroit suburb of Pontiac" Washington Post January 2, 2010.
  6. ^ Chandler, Rick. "The Pontiac Silverdome is open for business again!"[permanent dead link] NBC Sports November 3, 2010.

External links[edit]