Detroit's worst-kept secret is official: The Moroun family has sold the historic Michigan Central Station in Detroit to Ford Motor Co. in a landmark real estate deal that could portend a transformation of Corktown and the automaker's re-engagement with the city where it was founded.
Matthew Moroun, son of billionaire transportation mogul Manuel "Matty" Moroun, confirmed the sale Monday morning at an announcement outside of the long-vacant train station. It has long stood as a symbol of Detroit's decline for the past three decades.
"The deal is complete. The future of the depot is assured. The next steward of the building is the right one for its future. The depot will become a shiny symbol of Detroit's progress and its success," Moroun said in prepared remarks released exclusively to Crain's
before the 9 a.m. announcement.