The Kresge Foundation known as The Detroit Future City plan. Since July 1, 2006, the foundation has been led by Rip Rapson, formerly of the McKnight Foundation. He succeeded John Marshall III as president and CEO. In 1924, with an initial gift of $1.6 million, Sebastian Kresge established The Kresge Foundation in Detroit. Twelve years earlier, he and partner John G. McCrory opened the first 5-and-10-cent store, and parlayed the concept and operations into a chain of stores that were incorporated as the S.S. Kresge Company. Many years later the enterprise became known as Kmart. The foundation and the stores are not affiliated.
Kresge Building (Augusta, Maine) Kresge Building (Augusta, Maine) The Kresge Block is a historic commercial building at 241-249 Water Street in downtown Augusta, Maine. Built in 1932 to house a department store, it is a distinctive and rare local example of commercial Moderne architecture. It was listed on the National Register of Historic Places in 1986. The Kresge Block is located on the east side of Water Street, Augusta's principal commercial thoroughfare, a bit south of the center of the block between Bridge and Front Streets. It is a two-story masonry structure, built out of brick and granite. The ground floor has two storefronts