Last week, news broke that Ford could be interested in a move into the long-vacant Michigan Central Station. What this could mean for the city in general is huge—the old train depot has long been a sign of the city’s decline. Add in up to 1,000 workers who could eat, play, shop, and likely live in the city instead of the suburbs, and this is a game changer.
Various outlets have started discussing the impact this move could mean to the city and the neighborhoods.
- Michigan Radio says, “It could be the biggest economic infusion in Detroit since mortgage king Dan Gilbert moved his first wave of employees here from Livonia.”
- Crain’s reports that the real estate market in Corktown is already starting to feel it, with cash offers on a group of three houses that have been up for sale for a while.
- The Detroit Free Press looked at multiple implications of the deal, including the city-owned land around Michigan Central Station, the hope of more transportation going into downtown, and possible community benefits that would be included.
Now that we’ve had some time to think about this, what do you think could happen to the surrounding areas? The nearby Book Depository has been mentioned as a building in the deal; we’d likely see something happen with the neighboring Roosevelt Hotel and CPA Building. Will development start moving west down Michigan Avenue toward Dearborn? Could more housing be built in North Corktown? Could prices rise even more in Southwest Detroit? What will this mean for those listing their homes in Corktown this spring?
Let us know what you think in the comments.