Quicken ups total to be moved downtown

**fryar** · June-17-10, 12:37 PM

Originally Posted by MidniteSingh

Nice!

http://www.flickr.com/photos/quickenloans/4688783110/

+1. That kind of boosterism beats the hell out of the newest Pontiac, ey?!

There's a lot of suburbanite commuters working around Campus Martius who have watched this city and the region spiral downward their whole adult lives who briefly cracked a smile upon seeing that one morning.

I take the opposite perspective from what was said above. Moving downtown is the best way for them to hold on to their mobile college grads. If I had to guess, those people are probably local folks with ties to the area, rather than young people committed to the suburban lifestyle who picked SE Michigan as the place to really live that life, and then found a job at Quicken. People without kids are all the more likely to make the move to downtown or midtown, and possibly to buy if the city can get their buy-in to the idea of a renaissance in the denser, more urban parts of Detroit along the Woodward corridor.

Furthermore, those college grads working at Quicken are going to take some pride in Quicken's decision to be an anchor, a la Compuware, of a city, rather than an office park or a mall.

**p1acebo** · June-17-10, 01:22 PM

Originally Posted by fryar

+1. That kind of boosterism beats the hell out of the newest Pontiac, ey?!

There's a lot of suburbanite commuters working around Campus Martius who have watched this city and the region spiral downward their whole adult lives who briefly cracked a smile upon seeing that one morning.

I take the opposite perspective from what was said above. Moving downtown is the best way for them to hold on to their mobile college grads. If I had to guess, those people are probably local folks with ties to the area, rather than young people committed to the suburban lifestyle who picked SE Michigan as the place to really live that life, and then found a job at Quicken. People without kids are all the more likely to make the move to downtown or midtown, and possibly to buy if the city can get their buy-in to the idea of a renaissance in the denser, more urban parts of Detroit along the Woodward corridor.

Furthermore, those college grads working at Quicken are going to take some pride in Quicken's decision to be an anchor, a la Compuware, of a city, rather than an office park or a mall.

+1 for sure

**fryar** · June-17-10, 01:54 PM

Originally Posted by esp1986

This has been speculated a few times... Gilbert publicly denied it, or at least a spokesman did, but that doesn't mean there isn't something going on behind closed doors... time will tell.

There's got to be. With Detroit's other teams anchoring downtown development, the Pistons out in Auburn Hills are sore thumbs, wouldn't you say?

**bailey** · June-17-10, 03:52 PM

Originally Posted by fryar

+1. That kind of boosterism beats the hell out of the newest Pontiac, ey?!

There's a lot of suburbanite commuters working around Campus Martius who have watched this city and the region spiral downward their whole adult lives who briefly cracked a smile upon seeing that one morning.

I take the opposite perspective from what was said above. Moving downtown is the best way for them to hold on to their mobile college grads. If I had to guess, those people are probably local folks with ties to the area, rather than young people committed to the suburban lifestyle who picked SE Michigan as the place to really live that life, and then found a job at Quicken. People without kids are all the more likely to make the move to downtown or midtown, and possibly to buy if the city can get their buy-in to the idea of a renaissance in the denser, more urban parts of Detroit along the Woodward corridor.

Furthermore, those college grads working at Quicken are going to take some pride in Quicken's decision to be an anchor, a la Compuware, of a city, rather than an office park or a mall.

Did I miss some announcement by Quicken that they are actually building downtown? Aren't they still just leasing surplus space at Uncle Pete's [[with taxpayer help) for a fraction of their workforce? How is "motown" their new "hometown" when they haven't moved?

DetroitDad · June-17-10, 10:55 PM

Originally Posted by bailey

Did I miss some announcement by Quicken that they are actually building downtown? Aren't they still just leasing surplus space at Uncle Pete's [[with taxpayer help) for a fraction of their workforce? How is "motown" their new "hometown" when they haven't moved?

Have you been Downtown lately!?

**bailey** · June-18-10, 08:56 AM

Originally Posted by DetroitDad

Have you been Downtown lately!?

yes. what does that have to do with Quicken Loans NOT building anything?

DetroitDad · June-18-10, 09:13 AM

Originally Posted by bailey

yes. what does that have to do with Quicken Loans NOT building anything?

One of these renovations has to be for them, right? There are so many projects going on right now, with not more than a whisper of who the main tenants will be.

**esp1986** · June-18-10, 10:41 AM

Ok everyone, just to clarify here. 90-95%, if not all, of Quicken's tax credits are contingent on them building anew or renovating a building to serve as their headquarters. Leasing the space in the Compuware Building or 1001 Woodward, or wherever is not part of the deal. They have until, I believe, 2013 to begin construction. Gilbert has said, that whatever they do, he wants it to be part of much larger development, containing retail, entertainment, etc. So they still have over 3 years to secure financing and begin construction. It was said, last September or so, that they still planned to build downtown, but had not been able to secure market rate financing.

Given all that happened back in 2007, it wouldn't surprise me to hear if the UA was being prepped for part of a larger development involving Quicken, but time will tell. There is also every possibility that the Ilitches are prepping that building for a rehab regardless, given the fact that their inevitable new arena could end up just across Adams. If I recall correctly, Quicken's downtown move was simply to coincide with the expiration of their lease in Livonia, and since their ultimate plans were centered around downtown, no better time to at least begin that move.

Bottom Line: Don't worry too much about those tax credits... they have to build anew to get anything substantial out of them.

**Mind field** · July-01-10, 10:59 AM

http://www.freep.com/article/2010070...wntown-Detroit-

**Danny** · July-01-10, 11:43 AM

YAY! Come Quicken yuppies, help us revive Downtown Detroit Skyline.

**canuck** · July-01-10, 07:38 PM

Originally Posted by DetroitPlanner

It would be more healthier for the market if they did not build a new building. There is plenty of space available.

Yes, this habit of abandoning buildings is a tough one to kick!

**OriginalG313** · July-15-10, 11:22 AM

"When Angel and Paul Price moved to downtown Detroit from Howell a few weeks ago, they wasted little time taking advantage of the city's attractions. "

"The relocation prompted the Prices to move to The Residences at the Westin Book Cadillac, which is walking distance to the new home of Quicken."

From The Detroit News: http://www.detroitnews.com/article/2...#ixzz0tlip4WuG

**R8RBOB** · July-15-10, 12:40 PM

Originally Posted by OriginalG313

"When Angel and Paul Price moved to downtown Detroit from Howell a few weeks ago, they wasted little time taking advantage of the city's attractions. "

"The relocation prompted the Prices to move to The Residences at the Westin Book Cadillac, which is walking distance to the new home of Quicken."

From The Detroit News: http://www.detroitnews.com/article/2...#ixzz0tlip4WuG

I admit when I read this story this morning, I was envious of the Prices. I always wanted to live downtown. I say more power to them. The fact that they are going to live in on Washington Blvd. is great. My aunt lived on WB back in the 90's Too bad Theodore's is closed. I remember stopping in for a late-night meal after bar hopping.