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Originally Posted by DTW
Their plan was always to bring all their employees downtown.
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Yeah, which makes the recent announcement even more weird because Gilbert is making it sounds like this is some addition or new move when it's simply speeding up the existing move.
Originally, they were going to move all at once, and then when the recession hit, they decided to move in chunks. Now, it sounds like he's simply moving up the date to move them all downtown. Whatever the case, there will be 3,700 Quicken employees packed into different locations in the financial district, with a few hundred more downtown workers they'll be hiring over the coming months, and that's
just the actual Quicken employees, not accounting for the other small business and companies Gilbert either partially owns or has invested in.
BTW, the two new buildings he's buying are the old, 6-story, Art Deco Layne Bryant Building (1528 Woodward), and 1528 Woodward is the really detailed 6-story building right at the corner there at John R. a building south. Apparently, they are both between 40,000-50,000 square feet. It seems that neither the city nor Quicken is playing around when it comes to reusing these buildings. Here is what
Crain's had to say about the two projects:
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The building sales are subject to certain conditions as part of the DDA deal.
If the project is not completed in 18 months, a fine of $550 per day will be assessed, up to $675,000 per building.
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It joins Gilbert's other recent acquisitions, which have made him the second-largest private owner of office space in Detroit's central business district behind General Motors Co.
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