{"id":1004245418,"date":"2018-07-26T10:30:27","date_gmt":"2018-07-26T18:30:27","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004245418"},"modified":"2022-12-08T18:36:13","modified_gmt":"2022-12-09T02:36:13","slug":"detroit-becomes-chemical-banks-new-home","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/detroit-becomes-chemical-banks-new-home\/","title":{"rendered":"Detroit Becomes Chemical Bank\u2019s New Home"},"content":{"rendered":"
\"\"<\/a>

Rendering of Chemical Bank HQ, Detroit<\/p><\/div>\n

Chemical Bank, Michigan\u2019s largest headquartered bank, has relocated to downtown Detroit. The Midland-based financial company plans to increase its employee count by 500 people following its appointment as the City of Detroit\u2019s primary banking partner for managing operating deposit accounts. While the move is expected to consolidate several offices, Chemical Bank will maintain staff in Midland and several other markets, where it currently operates.<\/p>\n

\u201cDetroit is the financial hub<\/a> for advanced manufacturing and mobility as well as a growing nexus for young entrepreneurs looking to leverage the city’s rich history of innovation and hard work,<\/em>\u201d said Thomas Shafer, president & CEO of Chemical Bank, in prepared remarks.<\/p>\n

With an employee count of more than 500 people, Midland will continue to be Chemical Bank\u2019s corporate operations center.<\/p>\n

An Upcoming, Brand-New HQ<\/h2>\n

The downtown office, located at 333 Fort St., is set for renovations as it will expand to accommodate personnel growth. This will be a temporary location for the bank, as Chemical Financial Corp.\u2014the holding company for Chemical Bank\u2014plans to develop a 20-story building at the corner of Woodward Avenue and Elizabeth Street. According to The Detroit News<\/em>, construction costs for the mixed-use development will amount to roughly $60 million. The new building will include approximately 400,000 square feet of office, retail, parking and luxury residential space.<\/p>\n

This will be the bank’s second major investment in Detroit over the past four years. Following the merger with Talmer Bancorp Inc. in 2014, Chemical Bank became a partner in the City\u2019s plan to revitalize the Marygrove neighborhood, which Talmer was sponsoring. The $1 million commitment translated into $25,000 in forgivable grants over five years.<\/p>\n

Image courtesy of Chemical Bank<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company relocated its regional headquarters to its current downtown location and is set to develop a 20-story building at the corner of Woodward Avenue and Elizabeth Street.<\/p>\n","protected":false},"author":242,"featured_media":1004245421,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,1495,21782,21783,13,21742,21747],"tags":[41351,38377],"class_list":["post-1004245418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-detroit","category-development","category-investment","category-midwest","category-latest","category-office","tag-chemical-financial-corporation","tag-city-of-detroit"],"acf":[],"yoast_head":"\nDetroit Becomes Chemical Bank\u2019s New Home - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/detroit-becomes-chemical-banks-new-home\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Detroit Becomes Chemical Bank\u2019s New Home\" \/>\n<meta property=\"og:description\" content=\"The company relocated its regional headquarters to its current downtown location and is set to develop a 20-story building at the corner of Woodward Avenue and Elizabeth Street.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/detroit-becomes-chemical-banks-new-home\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-07-26T18:30:27+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:36:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/07\/Rendering-of-Chemical-Bank-HQ-Detroit.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Roxana Baiceanu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/detroit-becomes-chemical-banks-new-home\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/detroit-becomes-chemical-banks-new-home\\\/\"},\"author\":{\"name\":\"Roxana Baiceanu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/94dbd38faeeb26b4b597d7fbd793c52a\"},\"headline\":\"Detroit Becomes Chemical Bank\u2019s New Home\",\"datePublished\":\"2018-07-26T18:30:27+00:00\",\"dateModified\":\"2022-12-09T02:36:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/detroit-becomes-chemical-banks-new-home\\\/\"},\"wordCount\":296,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/detroit-becomes-chemical-banks-new-home\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2018\\\/07\\\/Rendering-of-Chemical-Bank-HQ-Detroit.jpg\",\"keywords\":[\"Chemical Financial Corporation\",\"City of Detroit\"],\"articleSection\":[\"Corporate Real Estate\",\"Detroit\",\"Development\",\"Investment\",\"Midwest\",\"News\",\"Office\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/detroit-becomes-chemical-banks-new-home\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/detroit-becomes-chemical-banks-new-home\\\/\",\"name\":\"Detroit Becomes Chemical Bank\u2019s New Home - 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