Henry Ford Health's $3 billion Detroit expansion is taking another step forward.
After hours of debate, the Detroit City Council on Tuesday night approved community benefits and rezoning requests for the project, which was announced last February. The project, a partnership between Henry Ford, Michigan State University and Detroit Pistons owner Tom Gores, will invest close to $3 billion into hospital expansions, a medical research center, housing developments, retail and public spaces around Henry Ford’s Detroit campus over the next 10 to 15 years.
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The estimated $600 million benefits agreement includes $310 million for an uncompensated care fund, $90 million for the research center, $10 million for a parking garage, $55 million for infrastructure changes and $30 million for rehabbing green space around the hospital.
"[Tuesday's] approvals lay the groundwork to execute the reimagination of our shared campus, creating meaningful economic opportunity and redefining what health and well-being means for the city of Detroit," the partners said in a joint statement.
Henry Ford is also prepping for growth beyond its Detroit campus overhaul.
Henry Ford Chief Financial Officer Robin Damschroder said in January the system plans to invest a total of $5 billion over the next decade between the Detroit campus and a proposed joint venture with Ascension Michigan that would create a $10.5 billion health system with 13 hospitals. The joint venture, announced in October, is expected to close this summer.
Damschroder said Henry Ford expects to fund its projects with operations, philanthropy, debt offerings, cash and proceeds from an agreement to build an energy hub on the renovated campus.
Henry Ford operates five hospitals and roughly 250 other locations offering specialty, behavioral health, primary and urgent care.