Phoenix city leaders hope a thousand-plus parking spaces will help seal the deal for a new employer downtown. 

The council approved a deal to provide up to 1,100 parking spaces to Quicken Loans. The Detroit-based mortgage lending company wants to open an operations center downtown and required parking spaces to match the expected jobs. 

The contract calls for Quicken Loans to pay $50 per month for each space at the city-owned garage at 5th and Washington Streets, across from Chase Field. The company is expected to announce its location once negotiations are finalized.

According to a city spokesman, Quicken Loans is looking to consolidate its workforce from other locations in the Valley. In 2015, the company announced its Scottsdale Web Center underwent a 30,000-square-foot expansion.