Fortune 500 company to move regional HQ to One Woodward building

[Armin]

Just wait until they have to pay double for gas and have to sit on I-75 in a traffic jam both ways and see how "exciting" it is. Your friend is going to be in for a reality check.

yeah, like taking 696 in rush hour is such smooth sailing for them now.

[anonJD]

"I can't wait to commute to Detroit. I don't mind the extra wear & tear, taxes, gas money, or commute time, so my bosses can exploit special tax breaks, cheaper commercial space, etc.! Where I buy my lunch [[assuming I even leave the office for that) really makes me a part of the rebirth!" Does Quicken/Bedrock pay you to post this clearly fabricated narrative or is this how you get your daily jollies? I don't care if it's Detroit, nobody really cares about Detroit if it hurts their pockets and abruptly impacts their lifestyle. I mean how would you feel if whoever you work for said you have to start driving to Port Huron M-F? You're going to be thrilled to support the Port Huron rebirth? Yeah right. The BS in this thread is laughable. Just like every other relocation, none of these employees are happy about this unless they happen to live in GP or somewhere where the move actually shortens their commute.

[dtowncitylover]

"I can't wait to commute to Detroit. I don't mind the extra wear & tear, taxes, gas money, or commute time, so my bosses can exploit special tax breaks, cheaper commercial space, etc.! Where I buy my lunch [[assuming I even leave the office for that) really makes me a part of the rebirth!" How much does Quicken/Bedrock pay you to post this clearly fabricated narrative or is this how you get your daily jollies?

And how much is L. Brooks Patterson paying you to post completely made up concerns about a downtown business and cause baseless insecurity?

People downtown really do leave their offices for lunch. There's a lot more down there to try and plus you have that crowd that takes their daily walk about. I wish my company would move downtown. I'm surrounded by oceans of parking lots and when I do leave for lunch I need to drive.

[dtowncitylover]

Just like every other relocation, none of these employees are happy about this unless they happen to live in GP or somewhere where the move actually shortens their commute.

You don't know that. I would gladly trade in my 15 minutes commute for a 30 minute commute if that means I get more out of my work surroundings. And downtown Detroit would do just that.

[Lowell]

More good news on this. It's not just 150 employees and 62K of office space. Fifth Third is really getting on board with the Gilbert spirit of uplift of Detroit making it a part of its marketing and branding.

According to the release, the move is part of an $85 million commitment to the city, which includes charitable donations, small business lending, tax credit investments and economic impact contributions over the next five years. Called “5/3 in the D,” the initiative includes more than $1 million in renovations and upgrades to the city’s Northwest Activities Center on Meyers and a plan to "adopt" Hart Plaza and enhance it as a premier public space along the Detroit riverfront,” the release said.

I snapped this picture the other night. The building gives the appearance of being filled. The first 8 floors have been active, Gilbert's operations I believe, for quite a while.


Fifth Third will also get naming rights.

The One Woodward building will be renamed Fifth Third Bank at One Woodward as part of the lease agreement.

Source Crain's Detroit Business

[stinkytofu]

"Just like every other relocation, none of these employees are happy about this unless they happen to live in GP or somewhere where the move actually shortens their commute.

I personally know an employee there whose commute will be longer and they are excited for the move. They expressed to me how they are excited to be in a more interesting work environment.

I'm sure there are people there with both views, but to flat out say what you did is ignorant.

[DetroitPlanner]

More good news on this. It's not just 150 employees and 385K of office space. Fifth Third is really getting on board with the Gilbert spirit of uplift of Detroit making it a part of its marketing and branding.



Fifth Third will also get naming rights.

Source Crain's Detroit Business

No way will you need 385,000 sq ft for 150 employees. I thought they were moving into four floors. That is the size of 4 K-marts. Is that the entire building size?

By those who say the commute will cost more; you can always carpool or take transit. Many companies downtown offer incentives for employees to do this.

[Lowell]

And welcome Fifth Third employees coming downtown. Here is taste of what to expect when you step out of your office.

Click Picture^ for full screen view.

Some more shots of your new offices. Be advised it can get a little crazy sometimes.

[Lowell]

No way will you need 385,000 sq ft for 150 employees. I thought they were moving into four floors. That is the size of 4 K-marts. Is that the entire building size?

By those who say the commute will cost more; you can always carpool or take transit. Many companies downtown offer incentives for employees to do this.

Sorry I misquoted. It is 62,000 sq ft. Amended above. The building is only 330K.

[Jason]

"I can't wait to commute to Detroit. I don't mind the extra wear & tear, taxes, gas money, or commute time, so my bosses can exploit special tax breaks, cheaper commercial space, etc.! Where I buy my lunch [[assuming I even leave the office for that) really makes me a part of the rebirth!" Does Quicken/Bedrock pay you to post this clearly fabricated narrative or is this how you get your daily jollies? I don't care if it's Detroit, nobody really cares about Detroit if it hurts their pockets and abruptly impacts their lifestyle. I mean how would you feel if whoever you work for said you have to start driving to Port Huron M-F? You're going to be thrilled to support the Port Huron rebirth? Yeah right. The BS in this thread is laughable. Just like every other relocation, none of these employees are happy about this unless they happen to live in GP or somewhere where the move actually shortens their commute.

I don't know about the specific buildings, but the downtown submarket has higher rents than the southfield [[and troy for that matter) submarkets. Companies downtown are paying extra for the privilege.

And depending on where you are, the commutes aren't that different. If you're up in harrison township or canton, the commute to southfield is already far, and to get downtown you'd just drive in a slightly different direction. Other than that, for most places in macomb or wayne county the commutes are about the same. People in oakland county will have longer commutes, but the commute from southern oakland county to downtown isn't horrible anyway.

They'll have to pay city income tax and yeah there are some other relatively small negative factors, but I think the employees will find it worth it. The first thing they do to start the work day is walk into a beautiful lobby. At lunch they get to get out and walk around downtown which is enjoyable in itself, and have a variety of both common and interesting places to have lunch. When they look out their office window they'll have great views. All the different events held downtown will add some spice to their life. One day a matharon might be held, another a bunch of different people from an interesting convention, they might see a movie being filmed, there might be an event at hart plaza, etc. They'll have good spots for the fireworks or the parade.

[DetroitPlanner]

Sorry I misquoted. It is 62,000 sq ft. Amended above. The building is only 330K.

Thanks for the clarification!

[downtownguy]

The BS in this thread is laughable. Just like every other relocation, none of these employees are happy about this unless they happen to live in GP or somewhere where the move actually shortens their commute.

Your screen name says a lot about you.

[downtownguy]

Just wait until they have to pay double for gas and have to sit on I-75 in a traffic jam both ways and see how "exciting" it is. Your friend is going to be in for a reality check.

Just perpetuating a myth that turns out not to be true time and again. According to GasBuddy.com, 3 lowest prices for gas in Ferndale: $2.85, $2.87, $2.89; 3 lowest prices in 48207 zip code [[adjacent to CBD): $2.85, $2.87, $2.88; and 3 lowest in the entire City of Detroit: $2.66; $2.68 and $2.70. Yep, those dang Chaldeans are ripping off Detroiters again.

[BankruptcyGuy]

I don't know about the specific buildings, but the downtown submarket has higher rents than the southfield [[and troy for that matter) submarkets. Companies downtown are paying extra for the privilege.

And depending on where you are, the commutes aren't that different. If you're up in harrison township or canton, the commute to southfield is already far, and to get downtown you'd just drive in a slightly different direction. Other than that, for most places in macomb or wayne county the commutes are about the same. People in oakland county will have longer commutes, but the commute from southern oakland county to downtown isn't horrible anyway.

They'll have to pay city income tax and yeah there are some other relatively small negative factors, but I think the employees will find it worth it. The first thing they do to start the work day is walk into a beautiful lobby. At lunch they get to get out and walk around downtown which is enjoyable in itself, and have a variety of both common and interesting places to have lunch. When they look out their office window they'll have great views. All the different events held downtown will add some spice to their life. One day a matharon might be held, another a bunch of different people from an interesting convention, they might see a movie being filmed, there might be an event at hart plaza, etc. They'll have good spots for the fireworks or the parade.

The rents for One Woodward will be lower than the Town Center. The Town Center recently traded hands; I don't know if new management was a factor in the decision.

Often banks will locate where their customers [[or potential customers) own buildings. Again, I don't know if that's a part of the calculus or not.

I was just in that building a few weeks ago. The views are awesome. Parking is right across the street, and it's easy walking distance to some retail and some dining options.

I would imagine some employees would like the change, and some wouldn't. That's no different than any other corporate relocation.

Having 5th/3rd is the latest of many shots in the arm Detroit needed. It's great to see it happening.

[Mind field]

Stumbled across an article about how downtown Milwaukee is on the verge of transformative change, and in that article it states "A thriving urban area is a prime motivator for growth and a huge component of the company's ability to attract talented people for it's next generation of employees". It's the same logic that is driving scores of companies into the core of Chicago. Young, creative talent wants an unsurpassed world class urban environment to work in. They aren't flocking to areas with the charm and built environment of places like Southfield, Auburn Hills, or Troy. I'm sure some fifth third employees won't care for the move to Detroit. But I'm sure some will be excited for the move. Companies moving into downtown Detroit are a crucial part of recreating a premier urban environment so that we could possibly retain more of our bright young college grads who would otherwise flee to the coasts or Chicago for their dose of urbanity.

[Cliffy]

Just perpetuating a myth that turns out not to be true time and again. According to GasBuddy.com, 3 lowest prices for gas in Ferndale: $2.85, $2.87, $2.89; 3 lowest prices in 48207 zip code [[adjacent to CBD): $2.85, $2.87, $2.88; and 3 lowest in the entire City of Detroit: $2.66; $2.68 and $2.70. Yep, those dang Chaldeans are ripping off Detroiters again.

Do some of you people even read what I wrote. This person claimed that his or her friend live in Northern Oakland County and work in Southfield and now are "excited" about driving to Detroit. Which adds more time and gas to the commute. This is not a Detroit bash its why the hell does anyone want to sit in their car another 25-30 minutes each way every day to work in Detroit. I know I wouldn't want to drive farther for work.

But back to your point, you have to have no value in your life to get gas in Detroit. I'd feel more comfortable parading in Kabul with an American Flag T-shirt.

[MSUguy]

Do some of you people even read what I wrote. This person claimed that his or her friend live in Northern Oakland County and work in Southfield and now are "excited" about driving to Detroit. Which adds more time and gas to the commute. This is not a Detroit bash its why the hell does anyone want to sit in their car another 25-30 minutes each way every day to work in Detroit. I know I wouldn't want to drive farther for work.

Some people think driving longer sucks less than being stuck in some shitty, suburban office park for 8 hours a day?

[Gistok]

But back to your point, you have to have no value in your life to get gas in Detroit. I'd feel more comfortable parading in Kabul with an American Flag T-shirt.

You sound like one of those people who haven't been downtown in 30 years...

https://www.google.com/search?q=Down..._sm=0&ie=UTF-8

[DetroitPlanner]

Stumbled across an article about how downtown Milwaukee is on the verge of transformative change, and in that article it states "A thriving urban area is a prime motivator for growth and a huge component of the company's ability to attract talented people for it's next generation of employees".

It must be the TJ Max in the downtown mall that is bringing them in!

[stinkytofu]

Do some of you people even read what I wrote. This person claimed that his or her friend live in Northern Oakland County and work in Southfield and now are "excited" about driving to Detroit.

This made me laugh.

You complain about people not reading what you wrote to someone else and then inaccurately quote me regarding where the person I know lives.

[stinkytofu]

Some people think driving longer sucks less than being stuck in some shitty, suburban office park for 8 hours a day?

Count me in that. I live in Royal Oak and would have a quicker commute to Troy or Southfield than downtown, but not one ounce in my freaking body would ever want to work in a bland suburban office park. I love working downtown.

[iheartthed]

But back to your point, you have to have no value in your life to get gas in Detroit. I'd feel more comfortable parading in Kabul with an American Flag T-shirt.

That's because you are an idiot.

[motz]

Count me in that. I live in Royal Oak and would have a quicker commute to Troy or Southfield than downtown, but not one ounce in my freaking body would ever want to work in a bland suburban office park. I love working downtown.

I work in a bland stretch of office parks in Troy and it is basically the worst. My main reason for continuing to stay here is that I really enjoy the company I work for... but man, if I had an offer downtown with an equally awesome company? In a heartbeat.

[animatedmartian]

I worked at Somerset for a time and I often took my lunch breaks in the food court. The view out that big glass window gets pretty boring pretty quick. It was either count the cars on the street or sit in the break room watching basic TV. Then there's really no reason to stay in Troy after work because everything worth doing is some place else. Either way, gas was being spent on the commute but I was spending less time at the destination which doesn't make the commute feel all that worth it.

[downtownguy]

Do some of you people even read what I wrote. This person claimed that his or her friend live in Northern Oakland County and work in Southfield and now are "excited" about driving to Detroit. Which adds more time and gas to the commute. This is not a Detroit bash its why the hell does anyone want to sit in their car another 25-30 minutes each way every day to work in Detroit. I know I wouldn't want to drive farther for work.

But back to your point, you have to have no value in your life to get gas in Detroit. I'd feel more comfortable parading in Kabul with an American Flag T-shirt.

Cliffy, I read everything you wrote. You made two points, and I quote:

Just wait until they have to pay double for gas and have to sit on I-75 in a traffic jam both ways and see how "exciting" it is. Your friend is going to be in for a reality check.

My point, if you actually read what I wrote, spoke to your comment about the price of gas. I used Ferndale, since, according to your profile, it's where you live. If you can do the math, it's not double after all!