Ford Motor Co. announced it has acquired the iconic Michigan Central Station and plans to transform it into the centerpiece of a new campus in Detroit’s Corktown neighborhood. The automaker plans to create a campus that will serve as an innovation hub for its vision for the future of transportation.

The acquisition of Michigan Central Station follows the company’s purchase of the former Detroit Public Schools Book Depository, two acres of vacant land, the site of an old brass factory and the recent purchase of a refurbished former factory in Corktown, now home to Ford’s electric vehicle and autonomous vehicle business teams.

Highlights of the plans for Ford’s new Corktown campus include:

• The campus will be comprised of approximately 1.2 million square feet of property in Corktown
• This new development will serve the community with a mixed-use space including office space for office and retail space, and some residential housing
• Initial plans include locating approximately 2,500 Ford employees, most from the mobility team, to call Corktown their work home by 2022
• There also will be space to accommodate 2,500 additional employees of partners and other businesses among Michigan Central Station and the other developments

Ford plans to share more details about the Corktown project, as well as early visual renderings, at an event on Tuesday.

Ford also will host a community Open House on Friday, June 22 through Sunday, June 24 for a rare, inside look at Michigan Central Station before renovations. Details of the open house will be shared Tuesday.

“Michigan Central Station is a powerful symbol of Detroit’s struggles and now its resurgence, but Ford’s investment in Corktown is far from symbolic,” said Bill Ford, the company’s executive chairman. “We aren’t just making a bet on Detroit. We are making a big bet on the future for Ford and the future of transportation. It’s exciting to imagine what’s possible as we build tomorrow, together.”