In November 2007, Quicken Loans announced it would relocate its headquarters to a newly constructed building in downtown Detroit, with options to develop several sites. Under the timeline for that plan, construction of a new headquarters building would have been completed by 2012. But the nationwide economic downturn has made it virtually impossible to obtain financing for the construction of new office buildings.
The decision to lease space enables the company to establish a strong presence in the city while continuing to pursue plans to develop a new downtown headquarters when commercial construction financing becomes more available across the country.
“We pledge to fulfill our commitment to the city. This is an interim step that allows us to begin transforming Detroit into a high-tech hub of business and ingenuity,” said company founder and chairman Dan Gilbert. “Our goal is to develop a downtown headquarters once construction financing becomes available for large-scale building projects the likes of which we plan to undertake.”
“Our move to the Compuware Building will get our folks working in the city even quicker than if we waited out the construction process as originally planned,” said Matt Cullen, president and COO of Rock Ventures, who is spearheading Quicken Loans’ move downtown. “The 1,700 people we are bringing downtown will have an immediate and profound impact on the city’s economy, in terms of income tax, retail spending and housing.”
“This agreement extends an already great partnership between two of Michigan’s most innovative companies,” said Compuware Chairman and CEO Peter Karmanos, Jr. “Bringing Quicken Loans and Compuware together at One Campus Martius will make our workplace even more dynamic and collaborative. It’s great for both companies and for our employees.”
“Quicken Loans remains dedicated to being part of the ongoing transformation of the city,” said Gilbert. “As we’ve studied our site options for a new headquarters, we have continued to infuse energy into other business and infrastructure initiatives to enhance the city.”
Gilbert founded the Detroit-based Bizdom U, an entrepreneurial boot camp, in 2007, and is the co-chairman of M-1 Rail, a light rail system on Woodward Avenue that will connect Detroit’s largest cultural, entertainment, educational, medical and employment centers.
Our mission is to showcase Detroit’s exciting present and promising future by creating an urban environment that attracts businesses, residents and visitors.
"Never doubt that a small group of thoughtful, committed citizens can change the world.
Indeed, it is the only thing that ever has"
Margaret Mead, Anthropologist
(used with permission)
"If you don't like the news .... go out and make some of your own !!"
Wes "Scoop" Nisker, Newscaster
Government is a slow and tedious process. While it often includes citizen and neighborhood involvement, non-governmental, private organizations have created movements and interesting groups which can create positive change in our cities and towns.
I am fascinated by the way groups are created and how they influence public decision making. This blog merely recognizes them and forwards the description of these groups from their own websites.