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Old 02-08-2018, 10:50 AM   #1
12345
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MassMutual Fan Pier

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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.
http://markets.businessinsider.com/n...tts-1015132307
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Old 02-08-2018, 10:57 AM   #2
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Re: MassMutual Fan Pier

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Originally Posted by 12345 View Post
This probably does deserve its own thread - I imagine we're talking about Parcel D.

https://www.bostonglobe.com/business...y9I/story.html

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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.

Last edited by Equilibria; 02-08-2018 at 11:51 AM.
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Old 02-08-2018, 12:12 PM   #3
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Re: MassMutual Fan Pier

"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.
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Old 02-08-2018, 12:31 PM   #4
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Re: MassMutual Fan Pier

This sounds to me like 10 Fan Pier Boulevard, not Parcel D.
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Old 02-08-2018, 12:59 PM   #5
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Re: MassMutual Fan Pier

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Originally Posted by Equilibria View Post
This probably does deserve its own thread - I imagine we're talking about Parcel D.
Parcel D is a Seaport Square Parcel. I'm inclined to believe they're targeting Fan Pier Parcel E.
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Old 02-08-2018, 01:06 PM   #6
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Re: MassMutual Fan Pier

Maybe it's hard to hire people out in Springfield so they're expanding here.
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Old 02-08-2018, 01:24 PM   #7
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Re: MassMutual Fan Pier

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Originally Posted by SeamusMcFly View Post
"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.
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.
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Old 02-08-2018, 01:56 PM   #8
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Re: MassMutual Fan Pier

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Originally Posted by goldenretrievers View Post
Parcel D is a Seaport Square Parcel. I'm inclined to believe they're targeting Fan Pier Parcel E.
Yeah, I meant Fan Pier E. I forgot what the lettering was.
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Old 02-08-2018, 01:58 PM   #9
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Re: MassMutual Fan Pier

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Originally Posted by jl326 View Post
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.
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.
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Old 02-08-2018, 02:13 PM   #10
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Re: MassMutual Fan Pier

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.
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Old 02-08-2018, 02:15 PM   #11
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Re: MassMutual Fan Pier

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Yeah, I meant Fan Pier E. I forgot what the lettering was.
Is that the undeveloped site between One Marina Park Drive and 50 Liberty?
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Old 02-08-2018, 02:30 PM   #12
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Re: MassMutual Fan Pier

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Is that the undeveloped site between One Marina Park Drive and 50 Liberty?
Yes, it's called 10 Fan Pier Blvd.
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Old 02-08-2018, 05:12 PM   #13
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Re: MassMutual Fan Pier





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Old 02-08-2018, 06:08 PM   #14
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Re: MassMutual Fan Pier

Now we just need some nice hotel with rooftop bar to finish up Fan Pier.
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Old 02-08-2018, 06:42 PM   #15
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Re: MassMutual Fan Pier

APPROVED
That was quick (all resi on the final parcel also approved)
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