Penske Invests $5M To Help Revitalize Detroit

DETROIT (AP) — Penske Corp. is investing $5 million as part of efforts to revitalize Detroit neighborhoods.

Funding from the Bloomfield Hills-based transportation services company will redevelop a community center and nearby park on Detroit's east side. A gymnasium will be built at the Lenox Community Center ahead of a planned September 2020 grand opening.

Last year, Penske Corp. and six other companies committed to making a combined investment of $35 million to spur development and make physical improvements to the city through neighborhood and affordable housing initiatives.

Penske Corp. founder and chair Roger Penske said Wednesday that working to improve the eastside neighborhood allows the company to show the community it wants to give back to Detroit.

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