Michigan Central Station Has New Owner: Report

DETROIT, MI — The Moroun family’s real estate company has quietly transferred ownership of the Michigan Central Station in Detroit, according to a report, and all signs point to Ford Motor Co. purchasing the vacant train station.

Crain’s reported that a warranty deed dated May 22 was recorded May 23 by the Wayne County Register of Deeds, transferring ownership from the Moroun-owned MCS Crown Land Development Co. LLC to New Investment Properties I LLC. On the same day, the Moroun company also transferred ownership of the former Detroit Public Schools book depository building next to the depot to a separate entity called New Investment Properties II LLC.

The deed records list the address for both New Investment Properties entities as the New York law firm Phillips Lytle LLP; there's no record to suggest the entity receiving the property is another Moroun-owned real estate holding company, Crain’s noted.

An official announcement from Ford is expected by mid-June, according to a source familiar with the company's plans, Crain’s said.

Ford, the Detroit Mayor’s Office and the Morouns all declined to comment on the deal, but Dawn Booker, communications manager for Ford Land Development Co., the automaker's real estate division, provided the following statement:

"We are very excited about our return to Detroit this year beginning with our electric vehicle and autonomous vehicle teams relocating to the historic former factory in Corktown. We expect to grow our presence in Detroit and will share more details in the future."

The comment points to recent plans for Ford to move into the Corktown area, including the automaker's recent decision to buy and restore an old pantyhouse factory in the area for more than 200 members of it's self-driving and electric vehicle team, "Team Edison." News broke in March that Ford could possibly buy the long-vacant station.

Ambassador Bridge owner Manuel (Matty) Moroun bought the old train station out of tax foreclosure in 1995, according to The Free Press. Under pressure from the city, the Moroun family recently installed more than 1,000 windows to the station's tower, restored a working elevator and cleaned up the interior.

The dilapidated station has been out of service since 1988 and a redevelopment would be a significant move in the city's resurgence.

Read the full story at Crain's Detroit Business

Photo by Jessica Strachan | Patch

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