Quicken Loans to name Detroit’s M-1 Rail
The official name of the M-1 Rail project under construction along Woodward Avenue will be decided by Quicken Loans Inc.
Project officials have confirmed the mortgage giant — founded by Detroit businessman Dan Gilbert — secured the naming rights to the 3.3-mile streetcar line “as part of its financial support during fundraising for the project.”
“M-1 Rail is also working on other branding items — including recognition of donors who have sponsored station stops,” said M-1 Rail Chief Operating Officer Paul Childs in a statement. “The process is a dynamic one and will be done in a way that reflects the pride we have in the project and its importance to Detroit.”
No additional information was available. Childs said officials “will provide further details in the future as work progresses.”
The M-1 Rail streetcar line will run from downtown to the New Center area. The $137 million publicly and privately funded line is expected to be operational by fall 2016. Construction on the light rail started in late July.
Quicken receiving the naming rights shouldn’t come as a surprise. The company has given millions to the project and Gilbert is vice chairman of M-1's board of directors.
Quicken obtaining the naming rights was first reported over the weekend by Crain's Detroit Business.