Quicken Loans founder Dan Gilbert buys historic Detroit site

Published On: Jan 30 2012 01:01:39 PM EST

DETROIT -

Quicken Loans founder and chairman Dan Gilbert says his venture capital firm is buying downtown Detroit's historic Federal Reserve Building.

Gilbert said Monday that he hasn't landed a tenant for the 176,000 square-foot building but believes it's ideal for one occupant. The original building was constructed in 1927 and an eight-story annex was added in 1951.

The purchase price wasn't disclosed for the building, which has been vacant since 2004.

In the past year, Gilbert's Rock Ventures LLC has bought nine buildings, three parking structures and one lot with an aim to create an entrepreneurially focused, technology district.

The Cleveland Cavaliers owner made the announcement from the M@dison Building, a five-story structure Rock Ventures bought and spent $12 million renovating. Other holdings include the Chase Tower and First National Building.

Comments

The views expressed below are not those of Click On Detroit, WDIV, or its affiliated companies. By clicking on "Post," you acknowledge that you have read the Terms of Service and your comment is in compliance with such terms. Readers, please help keep this discussion respectful and on topic by flagging comments that are offensive or inappropriate (hover over the commenter's name and you'll see the flag option appear on right side of that line). And remember, respect goes both ways: Tolerance of others' opinions is important in a free discourse. If you're easily offended by strong opinions, you might skip reading comments entirely.

blog comments powered by Disqus