Business

Could It Finally Be Happening? Morouns Transfer Ownership of Train Station


May 30, 2018, 2:57 PM

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Michigan Central Station (Photo by Albert Duce)

Ford Motor Co. has made it clear it has interest in taking over the Michigan Central Station in Detroit's Corktown. An announcement is expected in mid-June. 

So could this be the first move? 

One of the Moroun family's real estate companies quietly transferred ownership of the station to a mystery company last week, reports Chad Livengood of Crain's Detroit Business.

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, property records obtained by Crain's show.

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. The firm did not have immediate comment, Livengood writes. 

Read more:  Crain's Detroit Business


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Photo Of The Day 

Potd_img_9697_116 Garbage flowing amongst vacant lots near Corktown.

By: Michael Lucido