New banking deals

2014-06-24

How about setting up office in an old bank vault? The company dPop in Detroit specialises in finding innovative office solutions.

When the American automotive industry began to grind to a halt, it came as a shock to the whole United States, not least Detroit which was badly affected.  Now the city is slowly recovering and old abandoned buildings are coming back to life, sometimes in the most unexpected ways. The interior design company dPop moved into the cellar of the 23-storey high Chrysler House. The premises were previously used as a bank vault by the Dime Savings Bank, which at one time got its name because you only needed to have a dime (a 10 cent coin) to open a bank account, but when the bank moved out the premises were abandoned and only used for waste. It was the perfect headquarters for dPop whose business idea is to renovate old buildings. dPop grew quickly during the recession and today has over 60 employees and new projects are always underway across the city. As an anecdote, dPop's main shareholder is a company that offers quick loans, and the idea to focus on interior design came about when they took over a number of derelict industrial properties.