Yahoo Autos GM Is Reportedly Leaving the Renaissance Center Behind
General Motors could be on its way out of the Renaissance Center, its longstanding global headquarters located in downtown Detroit. The automaker is reportedly planning to transition up Woodward Avenue into the new Hudson’s building, which is being developed by billionaire Dan Gilbert, who helms the popular mortgage lender in Rocket Companies Inc.
The news comes by way of a report from Automotive News, which states that Gilbert and GM CEO Mary Barra will make the move official this afternoon in a press briefing at the new $1.4 billion Hudson’s building. This marks the first time that GM has moved its headquarters since it purchased the Renaissance Center in 1996. GM’s position at the center of the Detroit skyline has been a mainstay in the decades since, but the new office isn’t that far away. In fact, the Hudson’s building is only a mile up the famed highway.
Gilbert has been a major figure in Detroit real estate development, with more than 100 properties under his other company, Bedrock. The billionaire has also earmarked more than $5.6 billion to put towards Detroit’s revitalization. Interestingly enough, the Renaissance Center originally earned its name as part of a revival project following the significant racial tensions that exploded in the city in the late Sixties. That project was helmed by more than two dozen local leaders, including none other than Henry Ford II. Ford was even responsible for most of the early investment during the first phase of construction back in 1971.
According to the report, GM and Gilbert will study how to redevelop the Renaissance Center following the move. A sale of the property is not in the plans, according to the Associated Press. A number of other businesses also utilize office space in the various towers that make up the most recognizable part of the Detroit skyline. The building remains the tallest in the state of Michigan, with the Hudson’s Building falling just behind it.
More information is sure to come following the joint press briefing this afternoon.
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