Ford Acquires Iconic Michigan Central Station

(RTTNews) - Ford Motor Co. (F) said that it has acquired the iconic Michigan Central Station and plans to transform it into the centerpiece of a vibrant new campus in Detroit's Corktown neighborhood that will serve as an innovation hub for Ford's vision for the future of transportation.

The acquisition of Michigan Central Station comes alongside the company's purchase of the former Detroit Public Schools Book Depository, two acres of vacant land, the site of an old brass factory and the recent purchase of a refurbished former factory in Corktown, now home to Ford's electric vehicle and autonomous vehicle business teams.

Ford's new Corktown campus include the campus will be comprised of approximately 1.2 million square feet of property in Corktown; the new development will serve the community with a mixed-use space including office space for office and retail space, and some residential housing; Initial plans include locating approximately 2,500 Ford employees, most from the mobility team, to call Corktown their work home by 2022 There will also be space to accommodate 2,500 additional employees of partners and other businesses amongst Michigan Central Station and the other developments.

Ford said that it will share many more details about the Corktown project, as well as early visual renderings, at its event Tuesday.