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Chrysler Financial Building Stalled By Company Problems

DETROIT-A slowdown in the automotive market halts a $100-million Daimler-Chrysler office complex. The company has plans for a 420,000-sf building for its financial services department on hold.

By Robert Carr | Updated on January 29, 2001

DETROIT-A slowdown in the automotive market, combined with financial problems at Daimler-Chrysler, has halted a $100-million office complex. Daimler-Chrysler admits it has put on hold plans for a 420,000-sf building for its financial services department.

In November 1999, the company announced plans for the project to go up just north of the the North American headquarters of the company in Auburn Hills, MI. However, spokeswoman Melinda Wilson says the last eight weeks of automotive market turmoil, especially with the Chrysler Group, has convinced the company that now is not the right time to proceed with the project. “I can’t give you a timeline about when we will reconsider this project, only to say it is postponed indefinitely,” she tells GlobeSt.com.

The cancellation was an internal business decision, she added. “We thank the state of Michigan and the cities of Southfield and Auburn Hills for all the hard work that went into planning our move. We remain committed to providing a first-class working environment for all of our 800-plus (financial) headquarters employees,” Wilson said.

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