DETROIT — Ford paid $90 million to buy the iconic Michigan Central Station in Corktown, according to a new report.
Crain’s Detroit said that puts the purchase price at $150 per square foot for the 600,000-square-foot depot, which has long been seen as emblematic of a city that decayed over decades.
Ford finalized the depot purchase May 22, according to public records. The company is seeking nearly $239 million in local, state and federal incentives for its planned $740 million campus in the Corktown neighborhood west of downtown, with the train station as the focal point of the 1.2 million-square-foot project that is expected to bring 5,000 autonomous and electric vehicle technology workers to the area.
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