Ally Financial has agreed to be the largest tenant in a new 26-floor tower in Charlotte, N.C., where it will house all of its local employees.

The $164 billion-asset Ally will move its 1,700 Charlotte-based employees to the new building after it’s completed in 2021. Ally will lease about 400,000 square feet in the tower, an amount that could allow for potential growth.

Ally will not move its headquarters from Detroit to Charlotte, a company spokeswoman said. Several Ally executives are based in Charlotte, including CEO Jeffrey Brown, Chief Financial Officer Chris Halmy and its general counsel, chief risk officer and president of consumer and commercial banking products. Ally’s compliance, information technology, human resources and marketing departments also have employees based in Charlotte.

Ally consolidated 1,500 Detroit employees into a new office building there in April 2016.

Crescent Communities, also based in Charlotte, will develop and own the office tower. Construction is scheduled to begin in the first quarter. The building will be located about a half-mile from Bank of America’s headquarters on Tryon Street.

Ally will lease most of this new 26-floor office tower in downtown Charlotte when it opens in 2021.

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