News Summary
The Kresge Foundation is moving its headquarters from Troy to the Marygrove College site in Detroit, with a $180 million investment aimed at revitalizing local neighborhoods. The new facility will accommodate 130 employees and is set to open in 2028, emphasizing the foundation’s commitment to community engagement and sustainable growth through housing stabilization, commercial corridor revitalization, and environmental initiatives.
Detroit – The Kresge Foundation has announced that it will relocate its headquarters from Troy to the former Marygrove College site in Detroit’s northwest corridor. This move is part of a strategic plan that includes a substantial investment of $180 million aimed at revitalizing local neighborhoods over the next five years, with targeted efforts in Fitzgerald, Bagley, University District, and Martin Park.
The new 70,000-square-foot facility is expected to house approximately 130 employees and is scheduled to open in 2028. The current headquarters in Troy was reconstructed in 2006, emphasizing the foundation’s long-term commitment to the region as it transitions to its new base of operations in Detroit.
The Kresge Foundation currently oversees around $4 billion in philanthropic activities and will focus its investment on several key areas, including housing stabilization, increasing home ownership, revitalizing commercial corridors, enhancing public spaces, and providing financial support to local residents and businesses. A significant portion of the funding will be dedicated to promoting homeownership through various initiatives such as home repairs, wealth building, environmental enhancements, and rental assistance.
In addition to fostering homeownership, the foundation’s investment will also address tax relief initiatives and neighborhood beautification efforts. Working alongside the Live6 Alliance, Kresge plans to establish the Resident Investment and Opportunity Fund, which will focus on land stewardship, beautification, and resources for home maintenance, as well as support for renters in local communities.
As part of the revitalization efforts, the plans include extending the Ella Fitzgerald Greenway to Livernois and improving facilities at Ella Fitzgerald Park. The foundation is also committed to incorporating sustainability into its new headquarters, which will feature solar power systems and electrification technologies to promote environmental responsibility.
Moreover, Kresge intends to establish a resilience hub designed to support residents during climate-related emergencies and infrastructure failures. This initiative reflects the foundation’s comprehensive approach to community engagement and its desire to bolster local resilience to potential future challenges.
Kresge’s CEO has reiterated the foundation’s commitment to concentrated investment in community life while ensuring that existing residents are not displaced by these new initiatives. To finance the new headquarters while preserving its endowment funds, Kresge will issue $130 million in bonds.
The Kresge Foundation has a longstanding history of active participation in Detroit, notably playing a crucial role in the city’s recovery during its bankruptcy. The foundation previously contributed to preserving the Detroit Institute of Arts’ collection during the “Grand Bargain,” demonstrating its commitment to the cultural and economic vitality of the city.
As Kresge takes this significant step by moving its headquarters to Detroit and engaging in strategic neighborhood investments, it signifies a broader intent to rejuvenate the local community and foster sustainable growth while honoring the existing demographics. Through these initiatives, the foundation seeks to create lasting improvements and opportunities for the residents of Detroit’s northwest corridor.
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Additional Resources
- Crain’s Detroit: Kresge Foundation Moves HQ Back to Detroit
- Detroit Free Press: Kresge Foundation Moving HQ to Detroit
- Fox 2 Detroit: Kresge Foundation’s $180M Investment
- Chronicle of Philanthropy: Kresge Returns to Detroit
- WXYZ: Kresge Foundation’s Move and Investment
- Wikipedia: Kresge Foundation
- Google Search: Kresge Foundation
- Google Scholar: Kresge Foundation
- Encyclopedia Britannica: Kresge Foundation
- Google News: Kresge Foundation
Author: STAFF HERE DETROITMI WRITER
DETROIT STAFF WRITER The DETROIT STAFF WRITER represents the experienced team at HEREDetroitMI.com, your go-to source for actionable local news and information in Detroit, Wayne County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Movement Electronic Music Festival, Detroit Grand Prix, and America's Thanksgiving Parade. Our coverage extends to key organizations like the Detroit Regional Chamber and Focus HOPE, plus leading businesses in automotive and healthcare that power the local economy such as General Motors, Ford Motor Company, and Henry Ford Health. As part of the broader HERE network, including HEREGrandRapids.com, HERENorthville.com, HERENovi.com, and HEREPlymouth.com, we provide comprehensive, credible insights into Michigan's dynamic landscape.
