The system has revealed a plan, very much in the preliminarystage, that would invest $500 million into additions to its maincampus, with a new surgical center, emergency center and cancerinstitute, and construction of a south campus with a new researchfacility, ambulatory care facility and education building. The newadditions would go in directly across from West Grand Boulevard.The hospital already has purchased about 85% of the property forthis phase.
In addition, the system says it will encourage and supportanother $500 million in new commercial development in a 300-acrearea to the south. "For each dollar of investment we make, we wantto leverage additional investment for commercial healthcare-related products and programs, distribution throughmanufacturing facilities and research and development, to newretail and residential development," says William Schramm, Ford'sSVP for business development.
The 300 acres is about 50% vacant, which roughly 30% owned bycity, county or state entities, Schramm tells GlobeSt.com. Variousgovernment development incentives will be sought, he says, andearlier this year the state housing authority awarded Henry Ford$343,000 in federal incentives to tear down eyesore buildings inthe area. Zoning and other city approvals will be needed, Schrammsays.
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