A historic Albert Kahn-designed, eight-story building located at Woodward and Clifford, will be renamed the International Bancard Building when the credit card processing company relocates its headquarters from Clawson later this year.

“Moving to the center of the action in downtown Detroit is an important strategic decision for our growing company,” says David Iafrate, chairman and CEO of International Bancard. “Locating in the heart of Detroit’s thriving technology corridor will allow us to showcase our capabilities to local and national businesses, and rapidly excel the growth of our business.”

The company’s move to the 53,000-square-foot office building, located at 1505 Woodward Ave., is expected to be completed by year’s end.

Detroit-based Rosetti is the architect on the project, and Detroit-based Sachse Construction is the general contractor. Renovation of the offices will begin immediately.

“International Bancard is making a meaningful, long-term commitment to Detroit which will be impactful for the city’s technology-centric growth trajectory,” says Dan Gilbert, founder and chairman of Detroit-based Quicken Loans Inc. The building is owned by Bedrock Real Estate Services, an affiliate of Quicken Loans.

“This is another great example of an innovative, tech-focused company moving its headquarters downtown and further evidence Detroit is quickly moving towards becoming one of the fintech (financial technology) centers of the country,” Gilbert says.

The building is also home to Rocket Fiber, which offers a gigabit Internet network that provides up to 100-gigabit speeds for residential customers and 10-gig speeds for businesses. Other companies located along the lower Woodward corridor include Google for Entrepreneurs, Microsoft Ventures, Detroit Labs, StockX, and RocketLoans.