Our colleagues have a story today about Time Inc.'s newest initiative Assignment Detroit.

According to the company, the project is year-long commitment to living in and reporting from the city of Detroit with reports from the Motor City appearing in various Time Inc. publications and Web sites, including Time magazine, Time.com, Fortune, Fortune.com, CNNMoney.com, Sports Illustrated, SI.com, Money and Essence magazine.

As part of this initiative, Time Inc. purchased a house in Detroit to serve as its headquarters throughout the year-long project. We've heard that Steven Gray is currently living in the house full-time while he works as a correspondent for Time and Time.com, and Rick Tetzeli, the executive producer of Assignment Detroit, will be spending a few nights a week there. As the project progresses, various editors and writers will likely stay at the house from time to time.

And speaking of Gray, he has already started posting on Time.com's "Detroit Blog." In one of his first posts, Letter from Detroit, he explains a little bit about the new project:

"Our goal here on The Detroit Blog isn't to rehash clichéd stories about the region's problems. Some of that's unavoidable. But we're more interested in exploring key questions, like: What will it take for Detroit, and the region, to rebound? And who's developing the ideas that are best positioned to make that turnaround succeed? Let us know what you think. And stay tuned."

We will.

WebNewser: Time Launches Assignment Detroit