During the past decade, downtown Detroit has lost so many businesses and middle-class residents to its surrounding suburbs that a local wag once cracked: "Will the last company to leave please turn off the lights?" Rather than wait for that dismal moment, Henry Ford II has a better idea. Last week he announced that the Ford Motor Co. will sponsor a $500 million development to lure people back to the center city.
The development will renovate a 28.5-acre plot on the shore of the Detroit River. Now occupied by decrepit commercial buildings, the area...
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