Ownership of Michigan Central Station Transferred to Mystery Company (Probably Ford)
The exciting, mysterious, will-they-or-won’t-they story of Ford potentially buying Michigan Central Station took another wild turn this week. Strap in!
Crain’s Detroit Business on Thursday reported that a May 22 warranty deed transferred ownership of the Moroun family-owned MCS Crown Land Development Co. LLC to New Investment Properties I LLC. The deed lists the addresses of the latter as belonging to New York-based Law Firm Phillips Lytle LLP, which Crain’s notes has worked with Ford in the past.
Further, New Investment Properties I LLC and New Investment Properties II LLC were incorporated in late February and early March, which given the timeline could suggest a link to Ford.
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Neither party offered any further clarification when asked by Crain’s. Don Baker, Ford Mobility’s executive director of connected vehicle and services, was asked by Crain Communications President KC Crain at the Mackinac Policy Conference on Wednesday what he knew of New Investment Properties LLC. Baker responded, “Only what I’ve read in the papers.”
Baker did specifically say of Corktown, where Ford recently opened The Factory to house its electric vehicle development and autonomous vehicle business teams, that Ford is looking forward to establishing a greater presence there. This sentiment was reinforced by Ford Land Development Co. Communications Manager Dawn Booker, who told Crain’s that Ford is looking to grow its presence in Detroit and is excited about its new developments in Corktown.
Sources close to Ford’s plans maintain that the purchase of the long-abandoned Michigan Central Station will be announced by the middle of this month.
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News Source: Crain’s Detroit Business