Ford to Invest $740 Million in Detroit Campus

Ford Motor Co. says it will spend $740 million over four years to create a mobility tech campus around Detroit’s abandoned Michigan Central train station, which the carmaker acquired in June.

The 18-story structure, located about 1.5 miles from the city center in Detroit’s Corktown district, closed in 1988. Ford plans to make it the centerpiece of a 45-acre complex of retail shops, entertainment venues and offices for 5,000 engineers and software developers.

The $740 million investment includes the cost of buying the train station, acquisition of additional buildings and land, and rehabilitating the structures and surround areas.