Here's a good article on the role of Ford Motor Company and its efforts to make Michigan Central Station a key to Detroit's resurgence: (Jan. 22, 2020)
https://www.nytimes.com/2020/01/21/business/detroit-ford-train-station.html
Good luck to 'em!
Right, and if the article in the January "Trains" concerning Michigan Central Station is any indication Ford's got their work cut out for them.
Thank goodness it was built as well as it was, things could be a lot worse. But of course, they built for the ages back then.
It is amazig how much work can now be done without scaffoling. Those man lifts really reach high. More work in less time with no climbing scaffoling.
Flintlock76Right, and if the article in the January "Trains" concerning Michigan Central Station is any indication Ford's got their work cut out for them. Thank goodness it was built as well as it was, things could be a lot worse. But of course, they built for the ages back then.
Even though the train station was finished the office tower behind it I think was never finished nor was it ever fully occupied. I believe I read only the lower floors ever were filled due to the location it was built in Detroit.
CMStPnP Even though the train station was finished the office tower behind it I think was never finished nor was it ever fully occupied. I believe I read only the lower floors ever were filled due to the location it was built in Detroit.
The top two or three floors were left unfinished.
The new owners announced they will become a hotel.
Article in the Sunday Detroit Free Press (behind a paywall) says that the restoration is on schedule and on budget. Should be done by the end of 2022.
MidlandMike Article in the Sunday Detroit Free Press (behind a paywall) says that the restoration is on schedule and on budget. Should be done by the end of 2022.
The PR speak from Ford is funny as this building will not be ready by 2023, or 24 for that matter.. COVID-19 has changed plans and the Blue Oval is now getting ready to market real estate in Dearborn.. The MC building was a colossal waste of capital and one of these reasons former CEO Jim Hackett was booted. Ford's stock has not risen to shareholder expectation and lagging to limited EV knowledge is currently handicapping any value the company will generate mid-term.
SD60MAC9500The MC building was a colossal waste of capital and one of these reasons former CEO Jim Hackett was booted.
That would be sad because Jim Hackett had almost nothing to do with that investment. It was the brain child of Ford Family member William Ford (see below). It might have happened on Jim Hackett's watch but he hardly has the influence to oppose a Ford Family member especially one with a title higher than his in the company.
https://www.forbes.com/sites/joannmuller/2018/06/21/detroit-rejoices-over-fords-deal-for-abandoned-train-station-while-shareholders-wait-and-wonder/?sh=23bf22c21b48
Ford will make money on the deal as it has with the Ren Cen. It's a nobrainer to invest in Detroit real estate now post Bankruptcy, in my view it was a very smart investment in an area that will become more valuable over time.
They even have a Michigan Central Station Commercial now, pretty nifty.....
https://www.youtube.com/watch?v=HwqtP-9SDkc
$2 Billion Ford Rebuild of River Rouge Plant (Dearborn, MI CSX Shipper).
https://www.youtube.com/watch?v=ByOi-yGWz2s
Intro of the Retro Ford Bronco.........
https://www.youtube.com/watch?v=CacIlFaXph0
I also thought that it was a Ford family decision. Thanks for confirming that.
CMStPnP SD60MAC9500 The MC building was a colossal waste of capital and one of these reasons former CEO Jim Hackett was booted. That would be sad because Jim Hackett had almost nothing to do with that investment. It was the brain child of Ford Family member William Ford (see below). It might have happened on Jim Hackett's watch but he hardly has the influence to oppose a Ford Family member especially one with a title higher than his in the company. https://www.forbes.com/sites/joannmuller/2018/06/21/detroit-rejoices-over-fords-deal-for-abandoned-train-station-while-shareholders-wait-and-wonder/?sh=23bf22c21b48 Ford will make money on the deal as it has with the Ren Cen. It's a nobrainer to invest in Detroit real estate now post Bankruptcy, in my view it was a very smart investment in an area that will become more valuable over time.
SD60MAC9500 The MC building was a colossal waste of capital and one of these reasons former CEO Jim Hackett was booted.
Let me clarify my earlier statement. Yes you're correct the Ford family made the decision to purchase the MC building. Though due to issues with Ford's revenue, low margins, still trying to service a 6 Billion Fed Loan from 2009, and other problems in the C-suite. They were hoping to recoup their money back on this investment fairly quickly. Jim Hackett failed to increase Ford's margins and value during this period, and got the boot. Ford has failed to penetrate the fast growing Asia Pacific market which is where that 750 Million would have made sense to invest in.. Ford has been lagging behind their peers for quite sometime, and their EV program to compete with GM, and others is a mess right now..
Note some of this is inside information.
They need to buy and demolish the old Post Office Roosevelt Park Annex across the street from the station. It burned back in 1986 and has been derelict ever since. Here's a little story about it. At the time of the fire, it was the main Detroit Public Schools warehouse. I was a department supervisor there. It was morning break time and the "roach coach" had just left. I was sitting at my desk with my feet up doing the Detroit News crossword and eating. Willie, another supervisor who was extremely obese came running by. He yelled to me "call 911, the building is on fire!". For half a second, I thought he was joking. Then I thought "Willie was running. Willie never runs". I called 911 and hauled my butt out of there. I missed working there because from the upstairs rear corner, you could watch the Conrail and CSX trains climbing out of the Detroit River Tunnel.
Edited to add--there was a tunnel that ran from the RPA Post Office over to the station from back when trains hauled the mail.
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