Ford will spend nearly $740 million to renovate the Michigan Central Station and other sites the automaker purchased in Detroit’s Corktown neighborhood, the company said Tuesday night.
Ford announced in June that it had bought the properties, including vacant land, to form a new tech campus in the neighborhood west of downtown that would focus on self-driving vehicles.
In a statement Tuesday, Ford Land said the “total investment in the development of our five Corktown neighborhood sites … will cost approximately $738 million.”
The company said it also is “actively working with federal, state and local economic development groups and officials, seeking at least $250 million in tax or other incentives to support the development of the five Corktown sites.”
The sites include Michigan Central Station, the Book Depository, a former brass factory, a former hosiery factory and development of 45 acres of vacant land.
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