business
3:21 pm
Thu April 7, 2011

Quicken Loans closes deal on downtown Detroit building

Quicken Loans has completed the purchase of the 14-story Chase Tower in downtown Detroit. The deal will allow the company to move the remainder of its workforce from the suburbs to downtown Detroit.

When the move is complete, about 4,000 employees of Quicken and its related companies will work downtown.

The Chase Tower sits just south of the Compuware Building on the other side of Campus Martius Park, where Quicken moved about 1,700 of its employees last year.

The move downtown is part of Quicken founder Dan Gilbert’s plan to help turn lower Woodward Avenue into a mecca for high-tech, Internet-based businesses.

Quicken is the nation’s largest online mortgage lender.

Plans for the Chase Tower include retail space on the first floor, and room for tenants who fit into Gilbert’s plan for a downtown Detroit technology hub.