DETROIT -- Ford Motor Co. is in talks with multiple property owners in the Corktown neighborhood near downtown Detroit in an effort that would create a sweeping campus consisting of dozens of individual properties, including both buildings and parcels of land, in the area, Crain's Detroit Business, an affiliate of Automotive News, has learned.
With the abandoned Michigan Central Station as the campus' anchor, Ford is also nearing deals to buy properties ranging from small retail buildings and slivers of land to large warehouses, according to a half-dozen sources who have been briefed on the discussions with property owners.
The automaker, which employs 48,000 in Michigan, is expected to reveal its intention to buy and redevelop the dilapidated Michigan Central Station in Corktown next month, according to four other sources familiar with the campus discussions.
An announcement of what could be the most transformational Detroit development plan in more than a decade may come May 10, one of the sources said. The other sources were unable to verify that date, which is also when Ford's annual shareholder meeting is slated to begin at 8:30 a.m., but did say that next month is the target.