Ford is beginning modernization of a collection of 60-year-old buildings at its Dearborn, MI, headquarters. The company will rebuild 7.5 million square feet of space and create two campuses. Most of the existing structures will be demolished and replaced.
Ford has declined to disclose the cost of the project. A real estate advisory firm has estimated the costs at more than $1.3 billion.
Ford estimates the construction of the new engineering campus will be mostly complete by 2023. Work on the second campus for the company's world headquarters is expected to start in 2021 and take about five years to complete.
(more on Ford's construction plans to update its Michigan headquarters...)