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Kresge Foundation Meets Economic Downturn Head on, Awarding a Record $63.6 Million in Grants in Fourth Quarter 2008
Date:2/11/2009

ve Studies is emblematic of the kind of investment the foundation believes will be central to re-invigorating the region's economic health. The grant will help complete a $145 million renovation and repurposing of the historic Argonaut Building in Detroit to house a new master's of fine arts program, undergraduate and graduate student housing, and a new charter middle school and high school focused on art and design that will serve the city's youth.

With the opening of the Argonaut Building, the College for Creative Studies, a fully-accredited, degree-granting institution, expects to create 200 new knowledge-economy jobs and expand its enrollment by 250 students with its new MFA program.

"The College for Creative Studies' restoration of the Argonaut is an extraordinary example of a project that ripples in multiple ways beyond the immediate needs of the educational institution," says Rip Rapson, president of the foundation. "It will contribute momentum to the Woodward Corridor's increasingly dynamic creative economy. It will signal the importance of directing investment to the Corridor's historic physical infrastructure. And it will provide a vital updraft for young people aspiring to enter careers in the design professions. We are tremendously excited at its promise on all fronts."

Health Program

Kresge's Health Program is working to improve the environmental conditions that disproportionately contribute to chronic health problems among low-income populations. It also supports efforts to both increase access to health care and improve the quality of care for the poor and disadvantaged.

Lead abatement is one such effort. Building upon a previous grant in September 2008 to the Get the Lead Out Initiative, the board awarded multi-year grants to Alameda County Community Development Agency in Oakland, California ($225,000); the Department of Family and Chil
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SOURCE The Kresge Foundation
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