After years of teasing, Quicken Loans finally made the announcement that Detroit boosters have been waiting for: the company's headquarters will indeed relocate downtown, bringing along its 4,000 employees.
Now speculation will have to revolve around
where the company will locate: the former Hudson's site on Woodward or the Statler/Tuller/United Artists site on Grand Circus Park.
Or both?
Of all the reasons to celebrate CEO Dan Gilbert's decision, one pops out: he is planning to try to fill both sites within the next twelve months -- the amount of time that he has been alloted per his development agreement. One will certainly be for Quicken and, as for the other, he aims to lure other "knowledge economy" firms or create a business incubator.
After the year is up, the city and state have given Quicken another 18 to 24 months to finalize construction plans. Which begs the question, "Why so much time?"
Well, pre-development is certainly a time-consuming process.
But Angelo Vitale, who serves as Quicken's vice president and corporate counsel, has another perspective on why that time might be in everyone's best interest. He is personally thrilled with the move, and describes it in terms like "motivational," "morale booster," "exciting," and "incredible."
But he acknowledges that not all Quicken employees are fully on the moving- from-Livonia-to-Detroit boat. "Other people are just going to come along," he says. He believes the time between announcement and move will be well-spent acclimating employees to their new place of work.
At the press conference announcing the move, Gilbert urged Southeast Michigan to look at the move as a win for the region rather than a loss for Livonia. Detroit Mayor Kwame Kilpatrick agreed. "We are all in this together," he said. "It's the only way for this city and this area to reach its potential."
Source: Quicken Loans press conference, Angelo Vitale, Quicken LoansWriter: Kelli B. Kavanaugh