MassMutual Fan Pier | Seaport

1

12345

Active Member
Joined
Feb 18, 2007
Messages
570
Reaction score
365
MassMutual also plans to expand upon its Boston presence, constructing a new campus in the Seaport district on Fan Pier by 2021. This campus will ultimately house approximately 1,000 employees. The multi-story office structure – which will be in excess of 300,000 square feet – will be situated on an undeveloped parcel owned by MassMutual, with MassMutual as its primary tenant. The company expects to invest approximately $240 million into its new Boston campus over the next several years.
Click to expand...

http://markets.businessinsider.com/...-and-Reinvestment-in-Massachusetts-1015132307
 
12345 said:
http://markets.businessinsider.com/...-and-Reinvestment-in-Massachusetts-1015132307
Click to expand...

This probably does deserve its own thread - I imagine we're talking about Parcel D.

https://www.bostonglobe.com/busines...-four-years/TwG1AtPOSkFMYA2Zmusy9I/story.html

MassMutual also unveiled plans to build a $240 million office building at the Seaport’s Fan Pier, which the company owns along with Fallon Co. The 300,000-square-foot space will give it room for about 1,000 employees in Boston, where it currently only has about 150 in two downtown locations. The project is scheduled for a procedural vote before the Boston Planning & Development Agency Thursday night. MassMutual said it hopes to open the building in 2021.
Click to expand...
 
Last edited:
"If the company creates 2,000 jobs, it will be eligible for about $46 million in state incentives, “the largest commitment ever made to a Springfield-based company,” according to the MassMutual news release. It is not receiving any incentives from the city of Boston, a source familiar with the project said."

Important factoid from the Globe article.
 
This sounds to me like 10 Fan Pier Boulevard, not Parcel D.
 
Maybe it's hard to hire people out in Springfield so they're expanding here.
 
SeamusMcFly said:
"If the company creates 2,000 jobs, it will be eligible for about $46 million in state incentives, “the largest commitment ever made to a Springfield-based company,” according to the MassMutual news release. It is not receiving any incentives from the city of Boston, a source familiar with the project said."

Important factoid from the Globe article.
Click to expand...

I was just about to post something similar in case someone blindly refers to this as yet another Seaport-related "screw job to the tax payers" (or something similar). Tax incentives for employment goals sound like reasonable investments to me.
 
jl326 said:
I was just about to post something similar in case someone blindly refers to this as yet another Seaport-related "screw job to the tax payers" (or something similar). Tax incentives for employment goals sound like reasonable investments to me.
Click to expand...

You're right. They are spreading the cost across all of the Commonwealth, but the math works : $46,000,000 / 2,000 = $23,000 per job / estimated 3.4M tax payers (1/2 of total population) = 7/10 of one cent per taxpayer.
 
Also, consider the 5.1% income tax that each of the new 2000 employees will pay each paycheck, not to mention local property taxes to Boston for office building.
 
new-ffp-access-close-up-parking-1280x720.jpg


new-ffp-master-site-plan.jpg


fan-pier-aerial-2016-march-1280x720.jpg
 
Now we just need some nice hotel with rooftop bar to finish up Fan Pier.
 
APPROVED
That was quick (all resi on the final parcel also approved)
 
You must log in or register to reply here.

Back
Top