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Is Ford the mystery buyer of Detroit's Michigan Central Depot?

Michigan Central Station in Detroit
Jason Mrachina
Flickr - http://bit.ly/1xMszCg

The city is abuzz with the rumor that Ford is taking over Michigan Central Station, after reports that the once-glamorous train depot — an iconic symbol of Detroit’s decay since it closed in 1988 — has changed owners.

The Moroun family, owners of the Ambassador Bridge and hundreds of other properties around Detroit, has owned and largely sat on the complex in Detroit’s Corktown neighborhood since 1995.

But a Moroun company apparently transferred ownership to a newly-incorporated mystery entity last week.

The Morouns also transferred another building, a former school book depository adjacent to the train station, to a similarly-named company.

The buyers of both properties appear to be a shell company linked to a New York law firm. But it’s widely believed that the real buyer is Ford.

Ford has already moved some employees into new Corktown offices, and is reportedly amassing other real estate for a large campus in the neighborhood.

For now, all parties are staying mum on the real estate deal. Ford declined comment on all inquiries,  pointing to a past statement that notes: “We expect to grow our presence in Detroit, and will share more details in the future.”

Sarah Cwiek joined Michigan Public in October 2009. As our Detroit reporter, she is helping us expand our coverage of the economy, politics, and culture in and around the city of Detroit.
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