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Quicken Loans eyeing new office space in downtown Phoenix but needs parking

(Public Domain Photo)

PHOENIX — Another big company could soon call downtown Phoenix home, but it is waiting on the city council to decide on a parking issue before deciding.

In a statement, Quicken Loans said it is negotiating for office space in the downtown area. However, it has not signed a lease and is working with the city to find room for about 1,100 employees to park.

“Parking and accessibility for our team members is a top priority and we’re hopeful that we’ll have further updates to announce in the near future,” the company said in the statement.

Quicken Loans did not specify what space it is eyeing for a new office.

The parking issue was on the Phoenix City Council’s agenda for Wednesday.

According to the agenda, the council will consider an agreement that allows Quicken Loans to purchase up to 1,100 monthly parking passes for the East Parking Garage, located on Jefferson and Seventh Streets, across from Chase Field.

In the first year, Quicken would pay $50 per month per pass. After that, the company would pay the market rate.

The deal would be in place for 10 years, but the company can elect to renew it over two five-year terms.

Quicken Loans is based in Detroit and has offices in Phoenix and Scottsdale.

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