Growth in key areas of Detroit – including the District Detroit, Gordie Howe International Bridge and the Henry Ford Health System’s new cancer center – is spurring Comerica Bank to open new locations, relocate offices and sell space to make way for a growing city, officials said.

Comerica Bank officials also noted that they see hope within Detroit’s neighborhoods, which are the core of the city and its revitalization.

With its Monday announcement that it is investing $3 million in its Detroit operations, Comerica Bank officials also noted that they see hope within Detroit’s neighborhoods, which are the core of the city and its revitalization.

“There are so many exciting projects going in the city. We’re fortunate we could support that growth and hope these new developments spread further into the neighborhoods that surround them and beyond,” said Mike Ritchie, Comerica’s Michigan Market president.

Ritchie said he expects Comerica’s investment along with others will spark new and additional interest in other businesses coming to Detroit. Comerica plans to support that growth with all of its financial services and offerings, he noted.

“(Monday’s) announcement is about growth and, as a bank that has been a part of the city since 1849, we couldn’t be more pleased to see development in the city increasing and interest in the city by people inside and outside the state expanding,” Ritchie said.

Some of the changes include:

• Comerica is working with Henry Ford on their development of a new cancer center and a new development nearby that will open in 2018. Comerica’s W. Grand Boulevard-Sterling location is being sold to Henry Ford to make way for the new cancer center.
• To continue to serve West Grand-Sterling customers, a temporary drive-thru office will open in early April at 2838 West Grand Blvd. This new location, at the corner of Lincoln and W. Grand Boulevard, will include a 24-hour ATM and two “Banker Connect,” or interactive teller-like, machines in which customers can talk to a virtual customer service representative, make deposits or withdrawals, cash checks and much more. Customer accounts will be moved to Comerica’s nearby Fisher Building office, located 3011 W. Grand Blvd., between Second and Third streets, effective April 28, 2017. Comerica plans to open a new office in the Third & Grand development that will provide its West Grand Blvd.-Sterling and Fisher Building customers with enhanced services, including extended banking hours.
• The relocation of Comerica’s Fort-Washington office to a location nearby. Fort-Washington is in the 201 W. Fort Street building, which is currently for sale. The sale is contingent on the purchase or lease of a nearby site to provide continuing service to Fort-Washington customers.

• The installment of ATMs and the opening of a new banking center in the District Detroit Development.
• The acquisition of Comerica’s Fort-Military location by MDOT to make way for the new Gordie Howe International Bridge and the resulting consolidation of that office with Comerica’s Vernor-Inglis banking center in May. Comerica will continue to evaluate options for potential sites in this area as construction of the new bridge progresses and plans for related developments evolve.

“We’re the largest bank employer in Detroit, have the most banking centers in Detroit and have been supporting the city, its businesses and its residents for more than a century and half. The Detroit market continues to an important market for Comerica,” Ritchie said.

Comerica Bank is a subsidiary of Comerica Incorporated. Ranked No. 2 in deposit market share in Michigan, Comerica’s naming rights agreement for Comerica Park helped support this jewel in Detroit’s downtown revitalization plan. Comerica Inc. is a financial services company strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management.

Detroit home photo by Paul Engstrom

All other photos courtesy of Comerica Bank

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