On Tuesday, General Motors (GM) said it had purchased the Durant-Dort Carriage Co. "Factory One" building.

According to the Detroit News, GM might use the historic factory - which dates back to the 1880's - to showcase historic GM vehicles or host auto reveals and events for dealers and the community.

Repairs to the roof, walls and other structural improvements, such as to the foundation to hold the weight of the vehicles, will begin later this year.

GM purchased the building from Carriage Factory LP. The purchase price was not disclosed.