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Kresge Announces Move Back to Detroit, $180M Investment to 6 Mile, Livernois

September 12, 2025

The Kresge Foundation has announced plans to relocate its headquarters from Troy to Detroit's Marygrove Conservancy campus while committing $180 million to improve the Livernois-McNichols corridor in Northwest Detroit. The five-year investment will focus on stabilizing housing, promoting homeownership, enhancing public spaces, and revitalizing commercial areas in the Fitzgerald, Bagley, University District, and Martin Park neighborhoods. The foundation will construct a 70,000-square-foot headquarters using $130 million in bonds rather than drawing from its $4 billion endowment, with completion expected by 2028 for its 130 employees.

Who is affected

  • Residents of Northwest Detroit neighborhoods (Fitzgerald, Bagley, University District, and Martin Park)
  • Homeowners and potential homeowners in the targeted areas
  • Local businesses along the Livernois-McNichols corridor
  • The Kresge Foundation's 130 employees
  • The Marygrove Conservancy campus
  • Live6 Alliance (neighborhood community planning group)

What action is being taken

  • The Kresge Foundation is relocating its headquarters from Troy to the Marygrove Conservancy campus in Northwest Detroit
  • The foundation is investing $180 million to improve the Livernois-McNichols corridor
  • A $50 million fund is being established to promote homeownership, home repair, wealth building, environmental improvements, and rental assistance
  • The foundation is partnering with the Live6 Alliance to put vacant land to use
  • The organization is actively working with residents, community stakeholders, and experts to prevent displacement and gentrification

Why it matters

  • The investment represents a major commitment to revitalizing Northwest Detroit
  • The foundation is returning to Detroit after moving to Troy in 1970
  • The initiative aligns with other recent attention to the area, including support from the Michigan Economic Development Corporation and the Michigan Main Street designation
  • The foundation's previous $100 million investment in 2014 was crucial in helping Detroit emerge from bankruptcy
  • The project continues Kresge's involvement with Marygrove, which they previously transformed into an education center in 2018

What's next

  • No explicit next steps stated in the article

Read full article from source: Michigan Chronicle