General Electric HQ (Necco Buildings Reno) | 5 Necco Street | Fort Point

[bigpicture7]

Re: General Electric HQ | 244-284 A Street | Fort Point

^ Yes, the Globe article mentions that these brick-and-beam Necco buildings will become the GE headquarters when staff move from interim accommodations on Farnsworth. Therefore, these do compose the headquarters. The glass building was/is additional square footage of the headquarters campus.

My suggestion is that we break this into two threads akin to a Phase I / Phase II. The first phase is the Necco Buildings renovation, and the second, if it happens, will be the new building.

EDIT:
clarification: I was referring to this article:
https://www.bostonglobe.com/busines...ise-may-lag/skuV12gWzfpUHywkSCoW5O/story.html

GE is halfway through work on a nearly 100,000-square-foot complex in Fort Point, combining two century-old, brick-and-beam buildings that had fallen into disrepair, with help from $125 million in state funds. It will provide more than enough room for the existing corporate team.

But there’s still some uncertainty around the second, pricier half of the project: a striking 12-story tower that Flannery delayed by two years. The city’s offer of $25 million in property tax relief is tied to this construction, and to GE’s commitment to employ 800 people here by 2025. A spokesman said the plan is still to start part two sometime next year and finish it in 2021 — though it is not a stretch to wonder about its fate as the company continues to shrink.

 

[bigpicture7]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

^ Also of note is that this Sept 1st Globe article refers to a two-year delay for Phase II, with a targeted 2021 completion, rather than an indefinite delay implied by earlier articles in August. (Not that I am holding my breath - but its still better news than "indefinite." Also, it is good to know that some of the tax relief is tied to the new building, so, if GE doesn't build it, they won't get that tax break).

 

[bigpicture7]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

^ Also, if we're interested in seeding the second "Phase 2" thread, then posts 365-389 of this thread nicely document the new building proposal...

 

[BeeLine]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

https://flic.kr/p/29ZscjL

 

[BeeLine]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

https://flic.kr/p/MBhG1X

https://flic.kr/p/28B6guN

https://flic.kr/p/2bhKzUQ

https://flic.kr/p/28B7Mdd

https://flic.kr/p/PejhfU

 

[BeeLine]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

https://flic.kr/p/2agye7A

https://flic.kr/p/MBhH4i

https://flic.kr/p/Pejiho

https://flic.kr/p/Pejysd

https://flic.kr/p/2agy6TN

https://flic.kr/p/2bndn3i

 

[BeeLine]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

They look to be stabilizing the seawall or raising the sidewalk maybe both.

https://flic.kr/p/PejwYG

https://flic.kr/p/2bneMsi

 

[stellarfun]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

GE fired its CEO, Flannery, today.

 

[TheRifleman]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

GE fired its CEO, Flannery, today.

GE Massive Goodwill Write-Off--- $23 Billion?
So much for stock buybacks being the answer to absolutely everything

Jeffrey Immelt is the donkey that had no vision for one of the oldest corporation in America's. Also this is one of these companies saddled with Pension liabilities.

The best deal GE pulled off in the last few years was getting that priceless property in Boston with taxpayers incentives. Besides that its a slow death for GE.

The old boys entitled network really brought this one down to its knees.

 

[tangent]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

GE fired its CEO, Flannery, today.

The board should fire itself next. The past year or so has been a fiasco for the company and Flannery is every bit of a scapegoat just like they tried to make a scapegoat out of Immelt.

GE's liabilities were large, but manageable with a steadily growing business even if it was low growth. Instead of growing the business steadily they broke it up without sufficiently breaking up the liabilities. Now they are left with what would be otherwise be profitable business units that are saddled with accumulated debts that may be too large to grow out of when the market has lost confidence in the business and the business is downsizing.

It is the age old problem with large established conglomerate companies with new management that want to leverage all that value to grow grow grow and prove themselves and make a lot of money, only to realize that smaller companies have the most growth potential and conglomerates inevitably accumulate a lot of low margin lines of business... eager beavers shouldn't run huge conglomerates and eager beavers are the types that often rise through the management ranks.

 

[odurandina]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

GE Tower's fate; letting Boston down gently.....

https://www.bostonglobe.com/busines...-tower-fate/3ipXGRj8GHuatMpLmfZXzJ/story.html


build the tower for Amazon or Whomever.

 

[stevebikes]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

Let me know if these photos aren't visible. I'm trying to post them directly from Google Photos instead of Flickr.

 

[cjbski]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

Awesome photos!

 

[dshoost88]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

Photos look awesome, Stevebikes! Thanks for the update.

 

[jass]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

Google photos allows hotlinking now?

 

[odurandina]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

The insanity that sealed GE's fate...

Just declare bankruptcy already.......

https://www.bostonglobe.com/busines...ectric-down/mXSUIIeLEZd8TsgCYstTTO/story.html

 

[Gameguy326]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

The insanity that sealed GE's fate...

Just declare bankruptcy already.......

https://www.bostonglobe.com/busines...ectric-down/mXSUIIeLEZd8TsgCYstTTO/story.html

Can you please not bump a thread with news stories that are only tangentially related to a development?

Yes, we already know GE is in a financially bad spot. Unless there's something to report tying that back to thi sdevelopment, this is off-topic and inconsiderate.

 

[shmessy]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

Can you please not bump a thread with news stories that are only tangentially related to a development?

Yes, we already know GE is in a financially bad spot. Unless there's something to report tying that back to thi sdevelopment, this is off-topic and inconsiderate.

ummmm......how is that NOT relevant?

 

[JeffDowntown]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

Globe reporting: GE to sell Fort Point HQ, give back $87m to state

https://www.bostonglobe.com/busines...-incentives/C3s2KqiwTtg6Xm5Ry7poSK/story.html

Big day today for corporate un-deals.

 

[Equilibria]

Re: General Electric HQ (Phase 1 - Necco Buildings Reno) | 244-284 A Street | Fort Po

Globe reporting: GE to sell Fort Point HQ, give back $87m to state

https://www.bostonglobe.com/busines...-incentives/C3s2KqiwTtg6Xm5Ry7poSK/story.html

Big day today for corporate un-deals.

Better than Wisconsin has done with Foxconn. The big building will get built eventually by someone (whoever bought the site next door).