Having trouble receiving FOX 17? Click here:

Stephen Ross, Ford Foundation boost Detroit revival efforts

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

Detroit city reflection in river - Getty Images by Mike Kline

DETROIT (AP) — Billionaire developer Stephen Ross and the Ford Foundation are part of a $27.5 million effort to help revive Detroit neighborhoods.

Crain’s Detroit Business reports the owner of the Miami Dolphins on Thursday night announced a $7.5 million investment in the project that also includes $10 million from the Ford Foundation. Their investments add to $10 million from The Platform LLC, a development company.

The Platform Neighborhood Initiative is working to bring affordable housing and market-rate apartments to areas of Detroit that haven’t seen the biggest redevelopment efforts.

The announcement came during the fourth annual Detroit Homecoming, an event to bring in professionals with Detroit ties in hopes of convincing them to invest or reinvest in the city. Ross earned his law degree from Wayne State University in Detroit.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.