GM to Plan Move to Dan Gilbert's Hudson's Tower in Detroit [BNN Bloomberg (Canada)]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: BNN Bloomberg
million-square-foot project being developed by billionaire Dan Gilbert, said people familiar with the matter. For GM, the deal makes the automaker a long-term fixture in the revival of Detroit's downtown, which Gilbert has been spearheading by acquiring and developing 45 major office, retail and hospitality properties. It would give Gilbert, chairman of mortgage lender Rocket Cos. Inc., an anchor tenant for the office portion of the $1.4 billion building. By committing to Detroit, GM will continue to be the only major automaker still based in the city. The carmaker has about 5,000 employees downtown and thousands more in its Tech Center about 12 miles north of its current headquarters. GM has one factory in the city, its Factory Zero electric vehicle plant. GM Chief Executive Officer Mary Barra and Gilbert are hosting a press conference at the building, officially named Hudson's Detroit, at 4:30 p.m. Eastern time today, when they are expected to announce the move. Relocating t
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