The online mortgage company Quicken Loans Inc. plans to move its corporate offices and 4,000 jobs from the suburbs to downtown Detroit.
Owner Dan Gilbert says the move will help revive the downtown by attracting housing, stores and other businesses.
Detroit News columnist Daniel Howes and Detroit Free Press columnist Tom Walsh say Gilbert has one year to consider two possible sites and 18 months to two years more to develop a construction plan.
Quicken's now headquartered in Livonia.
Forbes magazine says Gilbert is worth about $1.2 billion. He turned a $5,000 investment in the mid-1980s into an online mortgage empire.
Gilbert bought the NBA's Cleveland Cavaliers for $375 million in 2005.