When Ford announced that it would be restoring the iconic Michigan Central Station in Detroit’s Corktown neighborhood, it also laid out a series of 43 commitments, including helping to provide affordable housing and workforce development for that slice of town. Now, some time later, the Ford Corktown project has already fulfilled or made progress on 36 of those commitments, the automaker has announced.
The so-far fulfilled Ford Corktown commitments include a $2.5 million dollar contribution to the city affordable housing fund, a $2 million investment in workforce development initiatives, a $1 million contribution to neighborhood development, and $500,000 spent on youth development and education. Additionally, applications will soon open for a home-repair program totaling $750,000.
Ford is in the process of developing 1.2 million square feet in Corktown, with Michigan Central Station serving as the crown jewel of the project. The station, along with surrounding buildings, will eventually house 2,500 Ford employees and an additional 2,500 collaborators from other organizations. Michigan Station is scheduled to be completed by the end of 2022.
The automaker has also been keen to help revitalize the neighborhoods around the station and is also investing in a Strategic Neighborhood Fund, which would provide help to 50 low-income homeowners whose homes are in need of repair.
Ford’s support of the Affordable Housing Leverage Fund will bring 841 new affordable units to Corktown, while its contribution to Grow Detroit’s Young Talent will help provide paid summer jobs for Detroit youths.
In addition to these contributions, Ford is also working to support career technical education and training for adults, but those efforts have been delayed due to the COVID-19 pandemic. However, the automaker has already launched a Fast Track job program, which aims to provide 25 individuals with valuable hands-on training in various construction trades.
We’ll have more on the Ford Corktown project very soon, so be sure and subscribe to Ford Authority for the latest Ford business news and 24/7 Ford news coverage.
I feel very good about what Ford has done to Corktown development. Congratulations.