In what seems like a regular thing now, another business has picked up and moved into the city of Detroit.
This time, International Bancard, a 15 year old credit card processing company, is moving from Clawson to a historic building on Woodward Avenue, with the move to be complete in October of this year.
Detroit-based ROSSETTI is the architect on the project and Detroit-based Sachse Construction is the general contractor. They will be taking the top two floors as well as acquiring the naming rights to the building.
They’re moving into 1505 Woodward Avenue in downtown Detroit, and will be in the same building as the new high-speed internet service, Rocket Fiber.
1505 Woodward Avenue, an 8-story Albert Kahn-designed building located on the northwest corner of Woodward Avenue and Clifford Street, has undergone extensive interior and exterior renovations.
The real estate company Bedrock, who own a good deal of the property in the area, are calling this technology district the “Madison Block” which goes along with their “M@dison Building” on the edge of Grand Circus Park.
“Moving to the center of the action in downtown Detroit is an important strategic decision for our growing company,” said David Iafrate, Chairman and CEO of International Bancard in a statement. “Our company is committed to providing customized payment acceptance solutions that drive business growth for all of our clients. Locating in the heart of Detroit’s thriving technology corridor will allow us to showcase our capabilities to local and national businesses and rapidly excel the growth of our business.”
Quicken Loans and its family of companies across the nation are a “significant customer” of International Bancard, according to press materials.
“International Bancard is making a meaningful, long-term commitment to Detroit which will be impactful for the city’s technology-centric growth trajectory,” said Quicken Loans founder Dan Gilbert. “This is another great example of an innovative, tech-focused company moving its headquarters downtown and further evidence Detroit is quickly moving towards becoming one of the fintech centers of the country.”
Fintech is a shortened word for “Financial Technology.”