DEARBORN — Ford Land is beginning its $1.2 billion retransformation by acquiring property in downtown west Dearborn.
The real estate company has purchase agreement contracts for land at Michigan and Monroe — the former Wagner hotel, Kiernan’s Steakhouse and LaShish properties — Dearborn Director of Economic and Community Development Barry Murray said.
The purchases come a month after Ford Motor Co. announced the addition of a research and entering center and major work on a second campus near its current headquarters.
“Ford Land is exploring options to acquire and develop office and retail space in downtown Dearborn to support its campus transformation plan,” Ford Land Communications Director Dawn Booker said. “Ford Land will continue to work with the city of Dearborn and share more detail when finalized.”
The completed project includes moving 30,000 employees from its current 70 buildings into the new campus locations.
A 700,000-square-foot Design Center will include new studios and outdoor design courtyard along with a 14,000-square-foot Design Showroom.
The second campus location near the current headquarters will feature a new Ford Credit facility, onsite employee services, connectivity and enhanced accessibility to the expansive green space around the building.
The product campus is expected by be completed by 2023 with the second campus scheduled to begin construction in 2021 and finish in 2026.
(Zeinab Najm can be reached at email@example.com.)