Liberty Mutual Tower | 157 Berkeley Street | Back Bay

Re: Liberty Mutual plans major Boston expansion

kennedy said:
Yeah, but think about the ego boost those Liberty Mutual Board of Directors would get.
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True, but they're a mature company -- they're not trying to make waves, nor do they have a hometown industry rival one-upping them the way Prudential did to John Hancock in the '60s.
 
Re: Liberty Mutual plans major Boston expansion

kennedy said:
Yeah, but think about the ego boost those Liberty Mutual Board of Directors would get.
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That's got to be worth something, call it "prestige that a landmark building would bring to the company". Could build corporate identity / branding, basically ego packaged as smart business.

The city could used incentives to get a better designed building, not just give them away blindly - maybe even dig deeper to encourage quality. As itchy pointed out though, the BRA's conflicting goals limit their willingness to push for good urban planning.

The cheapest building isn't always the best solution. Those who think it is are responsible for the mediocrity.
 
Re: Liberty Mutual plans major Boston expansion

My guess is the new building will be exactly on par with the yellow thing:

4385323151_cda85d84ea_b.jpg
 
Re: Liberty Mutual plans major Boston expansion

PlanBoston said:
The cheapest building isn't always the best solution. Those who think it is are responsible for the mediocrity.
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Depends on your point of view.

For you and me, no.

But for the CEO, CFO and assorted V.P.'s whose compensation is proportional to the amount of black ink, it is a brilliant solution, and that sort of architecture is pure gold.

And they will have most of the say. Especially these days.
 
Re: Liberty Mutual plans major Boston expansion

tobyjug said:
Depends on your point of view.

For you and me, no.

But for the CEO, CFO and assorted V.P.'s whose compensation is proportional to the amount of black ink, it is a brilliant solution, and that sort of architecture is pure gold.

And they will have most of the say. Especially these days.
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Some of the stories I have heard about the bigwigs at Liberty Mutual have led me to believe that all the pompousity of 80's businessmen is not yet dead. These guys are the type that expect not only for their pay to increase indefinitely, but also want to be surrounded with much opulence. I have been all throughout their office space, and have heard some ridiculousness about a 6 million doller carpet being too plush (and subsequently replaced). I would not put it past them to "want" that big dick tower. But, like every owenr I've dealt with that wants the best of everything.... that only lasts until they get the estimates.

I have just done some quick searching of the biggest insurance companies in the USA, and can only hope we can do better. I believe Liberty Mutual something number 5, and they are already ahead of most in their headquarters.
 
Re: Liberty Mutual plans major Boston expansion

Liberty Mutual Unveils Back Bay Expansion Plans
04/09/10

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Liberty Mutual kicked off the permitting process for its $300 million Back Bay expansion on Friday, filing a letter with the Boston Redevelopment Authority that outlines plans for a 22-story tower.

The letter kicks off a months-long development review process. Liberty Mutual announced the expansion in February. City officials recently approved a $16 million property tax break for the project.

Friday's letter of intent details plans for a 22-story, 590,000-square-foot tower at the corner of Columbus Avenue and Berkeley Street. The project will also include the construction of 205 below-grade parking spots, and the preservation of 330 Stuart St., which houses the restaurant Grill 23 & Bar.

"Currently, Liberty Mutual is the only Fortune 100 company whose corporate headquarters is located in the city of Boston," the letter reads. "The proposed project represents a significant additional investment by Liberty Mutual to expand its existing headquarters in Boston."

The insurance giant bought the former Salvation Army headquarters at 147 Berkeley St. last July for $23.5 million. The company bought the building at 330 Stuart St. for $28 million in 2004.

Liberty Mutual also plans to construct a two-story, 25,000-square-foot addition to its current headquarters next door to the project site at 30 St. James Ave. That addition will be used for offices and meeting space.

Colliers Meredith & Grew will steer the permitting process for Liberty Mutual.
 
Re: Liberty Mutual plans major Boston expansion

Wonder why they didn't want to commit to any space on the South Boston Waterfront...

(That would've been a pretty good solution -- Liberty invests in the city without plopping down an overweight 20-story quasi-groundscraper in place of the fairly nice Salvation Army building in the Back Bay, plus a significant vote of confidence in the Seaport area as a major business district. Of course, it could never happen under the circumstances Menino and the BRA have created in the Seaport, but one can dream...)
 
Re: Liberty Mutual plans major Boston expansion

They didn't want to because of sunk costs in their preexisting Back Bay HQ. The purpose of the new tower is to centralize their operations near it.

"Currently, Liberty Mutual is the only Fortune 100 company whose corporate headquarters is located in the city of Boston,"
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Should that be read as a threat?
 
Re: Liberty Mutual plans major Boston expansion

You know things are slow when a 22 story "tower" sounds exciting.

Bring on the renderings!
 
Re: Liberty Mutual plans major Boston expansion

Thank God Menino gave them the tax breaks. You know insurance companies need them.
 
Re: Liberty Mutual plans major Boston expansion

This might have been addressed, but are they planning on occupying all 22 floors? If yes why wouldn't they tack on another 10-15 to lease out and make a dime off it? Even if it sat empty for a while it'd still make them money in the long run.
 
Re: Liberty Mutual plans major Boston expansion

Not worth the time/energy it would take to battle for those (for Boston) dizzying heights.
 
Re: Liberty Mutual plans major Boston expansion

The plan right now is not for LM to occupy all the new building. They will lease out portions, and fill them slowly afterwards with their people.
 
Re: Liberty Mutual plans major Boston expansion

Almost 30,000 SF floor plates and only 22 stories tall. Ladies and gentlemen, I give you another "tower" longer than it is tall.
 
Re: Liberty Mutual plans major Boston expansion

There's a small rendering of this project in the Herald today.
 
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