The new office building would be developed by Southfield-basedRedico and take two years to complete, says Dale Watchowski,Redico's chief executive officer. A preliminary presentation hasbeen made to city officials, but no leases have been signed for theproject.

Visteon officials say they are weighing several options, butwould consider the space for 500 information technology staff. "Weare looking at a multi-tenant building opportunity in DowntownDetroit, but we are also looking at the suburbs," says Jim Fisher,Visteon's director of corporate communications.

The Kennedy Square block at Woodward and Michigan, and anunderground parking deck, are owned by the City of Detroit. Theproposed 240,000-sf, glass structure would be the first majoroffice tower built Downtown since Compuware opened a $325-million,4,000-employee headquarters in February 2003 on Monroe betweenWoodward and Randolph. "What we see in the Kennedy Square block isan excellent location overlooking a world-class park in a city thatis making great improvements," Watchowski says.