In a significant move, General Motors (GM) is planning to relocate its iconic Detroit headquarters to a new downtown office tower, as well as redevelop its existing home office site along the Detroit River, according to an anonymous source briefed on the plans. The announcement is scheduled to be made in a news conference on Monday afternoon in collaboration with the Bedrock real estate firm.

GM's CEO Mary Barra and Bedrock Chairman Dan Gilbert are expected to attend the news conference at the site of the new tower, which is being constructed on the premises of the former Hudson's department store, situated in the heart of downtown Detroit. The source reveals that GM's main office will be relocated to the Hudson's tower.

Furthermore, Bedrock, known for its ownership of several office buildings in downtown Detroit, will join GM in exploring redevelopment opportunities for the seven-building Renaissance Center, a landmark complex currently owned by GM. The Renaissance Center is renowned for its prominent position in Detroit's skyline and is often featured on sports television broadcasts.

It is worth noting that GM purchased the tower complex in 1996 and subsequently transferred its headquarters there from a previous site located north of downtown Detroit. The potential move signifies the end of an era at the iconic location, where the company has been based ever since.

Bedrock, led by Dan Gilbert, has been instrumental in the revitalization and acquisition of various properties in downtown Detroit, playing a key role in the city's ongoing transformation. In addition to his involvement with Bedrock, Gilbert also oversees the operations of the loan company Rocket Mortgage.

In a 2022 interview, GM's CEO Mary Barra had mentioned that the company intended to keep its main office in the Renaissance Center. However, she emphasized that future plans could not be predicted long-term. Subsequently, several white-collar workers at GM accepted early retirement buyouts, and many others transitioned to a hybrid office-home work schedule, resulting in a reduced demand for office space.

While the move to a new downtown office tower reflects GM's evolving work structure, Barra had also hinted at potential riverfront development collaborations with the city in the aforementioned interview.

The Renaissance Center, initially built by Henry Ford II as part of an effort to revitalize downtown Detroit in the 1970s, has experienced limited pedestrian activity over the years. With the final structural steel beam recently placed on the Hudson's tower, the future development is projected to encompass 1.5 million square feet of retail, office, dining, hospitality, and residential space. The new tower will be situated approximately one mile north of GM's current headquarters.

As of now, GM has not announced any plans to sell the Renaissance Center. However, with the company's headquarters poised to relocate, the future of the landmark complex remains uncertain.