Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Connect with us

Hi, what are you looking for?

slide 3 of 2
THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Finance

Finance

Ford Motor Co. Buys Michigan Central Station

Listen to the article now

Michigan Central Station is no longer abandoned after decades of vacancy. Ford Motor Company has purchased the 18-story building and executive chairman Bill Ford plans on upgrading.

Bill Ford, the great-grandson of Henry Ford, issued the following statements:

“I kept staring at the train station thinking, ‘What if? Wouldn’t that be amazing? If all we did was to restore this fabulous building and make it sparkle, that would be great. But we’re going to do much more than that. It’s really about creating the future of transportation. And doing it in Corktown.”

Corktown is the Detroit neighborhood where the building resides.

Michigan Central Station was erected in 1913 and sits in the heart of Detroit. The building was designed by the architects who worked on New York City’s Grand Central Terminal. Back in its heyday, the station was filled with thousands of Detroiters.

Bill Ford currently serves as the company’s executive chairman and has expressed his emotional connection to the area. When asked about the decaying building, Ford explained that “It was like a knife through my heart”. The Ford family began their venture in Detroit back in 1903 and later moved the company headquarters to Dearborn Michigan.

Back when Michigan Central Station was built it was the tallest train station in the world. The space used to be a beautiful piece of art.

The building still has tall windows, marble floors, and an arched ceiling, but now the media sends out photographs of the station to portray the decay of Detroit’s economy. The building has been empty for decades and is littered with wildlife and intruders on the regular.

So, what does this all mean for the city of Detroit? Ford owns several other properties in the same neighborhood with plans to continue to invest money into Corktown. There will certainly be an increase in jobs. Thousands of tech-related jobs are scheduled to surge. Ford has big plans to rejuvenate the Motor City.

Featured Image via Flickr/JD Hancock


Comment Template

You May Also Like

Economy

Due to “uncertainty” surrounding the ratification of its agreement with the United Auto Workers (UAW) union, Ford Motor Company (F.N.) pulled its full-year results...

Business

Invoking economic unpredictability and highlighting concerns about a slowdown in demand, Tesla (TSLA.O) joined General Motors (GM.N) and Ford (F.N.) in being cautious about...

Business

Japan puts the brakes on lucrative used-car trade with Russia. According to trade statistics and market players, Japan’s decision to prohibit most used-car sales...

Business

Ford Motor (F.N) halted development on a $3.5 billion electric car battery facility in Michigan on Monday, citing worries about its ability to operate...

Notice: The Biznob uses cookies to provide necessary website functionality, improve your experience and analyze our traffic. By using our website, you agree to our Privacy Policy and our Cookie Policy.

Ok