Blue Cross commits $5M for Detroit's East Warren-Cadieux area
DETROIT (FOX 2) - Blue Cross Blue Shield of Michigan is planning a $5 million investment in Detroit for the revitalization of the East Warren-Cadieux neighborhood.
"This is an awesome day. The world has circled here," said Dan Loepp, BCBS of Michigan CEO.
BCBS invests in East Warren-Cadieux neighborhood
It was an emotional homecoming for BCBS of Michigan's CEO as he returned to the East Warren-Cadieux neighborhood he grew up in to announce his company's financial commitment to revitalizing Detroit neighborhoods.
It was an emotional homecoming for BCBS of Michigan's CEO as he returned to the East Warren-Cadieux neighborhood he grew up in to announce his company's financial commitment to revitalizing Detroit neighborhoods.
"Today I'm pleased to officially share that Blue Cross is partnering with the East Warren-Cadieux neighborhood and the city to help support this vibrant community," he said. "BCBS of Michigan is proud to join six other corporate partners, each committing $5 million in support of the neighborhood initiatives."
Detroit Mayor Mike Duggan says the BCBS investment is going to speed up the process dramatically. He said he's elated that his vision for neighborhoods in Detroit is in motion, explaining how the funds will work to rebuild the selected neighborhoods that include East English Village, Morningside, and Cornerstone Village.
"Their money leverages other investment so if somebody wants to bring in a clothing store and is $100,000 off they can choose to put money in," he said.
For East English Village, the neighborhood wants to see the investment jumpstart retail in this area.
"When we talk revitalization, it's really about retail for us and business--that's what we need," said William Barlage, president of the East English Village Homeowners Association. "Homeownership has been strong for us."
"We want to make a difference. We've been a difference-maker as a company for 80 years, so this is just another opportunity," Loepp said.