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Phoenix Offers 1,100 Parking Spaces To Move Quicken Loans Downtown

Quicken Loans has a web center in Scottsdale located off the Loop 101 at Pima Road.
(Photo by Quicken Loans)
Quicken Loans has a web center in Scottsdale located off the Loop 101 at Pima Road.

In order to attract more than 1,100 new jobs to downtown Phoenix, the city is crafting a big parking deal.

To convince Quicken Loans to move downtown, Phoenix has to offer an equal number of city-owned parking spaces. The deal calls for the Detroit-based mortgage lending company to pay $50 per month for each space at the convention center’s garage located at Fifth and Washington streets across from Chase Field. 

Although city officials promote light rail and bus service, parking remains a top requirement for businesses considering downtown. The City Council should vote on the Quicken Loans deal Wednesday. If it’s approved, the company is expected to finalize negotiations before announcing where and when its operations center will be up and running.

According to a city spokesman, Quicken Loans is looking to consolidate its workforce from other locations in the Valley. In 2015, the company announced its Scottsdale Web Center underwent a 30,000-square-foot expansion.

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As a senior field correspondent, Christina Estes focuses on stories that impact our economy, your wallet and public policy.