Welcome to Extreme Investor Network, where we bring you the latest and most innovative business news. Today, we are excited to share with you the transformation of an iconic symbol of Detroit’s past into a beacon of hope for the city’s future.
Ford Motor has undertaken a monumental project to restore and reopen the abandoned Michigan Central Station, once a symbol of Detroit’s downfall. This $950 million project includes the restoration of the 18-story train station, an adjacent 270,000-square-foot building, and other supporting facilities. The Michigan Central campus is set to open by 2022, delayed slightly due to the pandemic.
This ambitious project is not just about revitalizing a historic building; it signifies Ford’s commitment to innovation and talent acquisition. Ford Chair Bill Ford Jr. believes that creating a dynamic work environment is essential to attracting and retaining top talent. By offering employees a stimulating work environment at Michigan Central, Ford aims to compete with tech companies in both product development and talent acquisition.
Situated in Corktown, southwest of Detroit’s main business district, the Michigan Central campus spans 1.2 million square feet of commercial space, including retail, restaurants, and hospitality. The meticulous restoration of the train station involved 3D-scanning, historical referencing, and even reopening a limestone quarry in Indiana.
Ford plans to house 2,500 employees in the building, primarily focusing on electric vehicle and connected services teams. The campus will also be home to local universities, businesses, and even a restaurant. Google, a founding partner of the project, already runs its “Code Next” program from the Detroit Public Schools Book Depository building.
Bill Ford considers Michigan Central to be a “legacy project,” following in the footsteps of previous initiatives he spearheaded in Detroit. From moving the Detroit Lions to Ford Field to redeveloping the River Rouge Assembly plant into a sustainable production facility, Ford’s dedication to revitalizing the city is unwavering.
At Extreme Investor Network, we are excited to witness the transformation of Michigan Central Station into a hub of innovation and collaboration. Stay tuned for more updates on this groundbreaking project and other exclusive business news.