DETROIT - The Detroit Grand Prix will take over Belle Isle in a week and a half, and one of the event's biggest backers announced Wednesday that it will invest millions of dollars into a nearby neighborhood.
The Panske Corporation is giving $5 million to the Jefferson-Chalmers neighborhood just across the Detroit River.
For nearly two decades, the Lenox Community Center in the neighborhood has been vacant, but that won't be the case anymore.
Penske's donation will go toward redeveloping the space into a community center.
Penske is one of six companies pledging $5 million to the city's Strategic Neighborhood Fund, which is aimed at revitalizing neighborhoods, as opposed to Downtown Detroit.
Detroit Mayor Mike Duggan went looking for donations, but he said Penske officials called him.
The money for the Lenox building is part of an overall strategy of reinvestment and revitalization for Jefferson-Chalmers that the city has been working on for more than a year with neighbors.
You can watch Mara MacDonald's full story in the video posted above.
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