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Old 01-13-2016, 01:02 PM   #1
stick n move
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Proposed General Electric HQ | 244-284 A Street | Fort Point

Seeing that this is now official it is time to start a new thread regarding this development.

http://www.bostonglobe.com/business/...abJ/story.html
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Old 01-13-2016, 01:16 PM   #2
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Re: General Electric HQ | TBD | Innovation District

Further details on location. 253 Summer st is one of the options.

http://www.bizjournals.com/boston/ne...e.html?ana=twt
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Old 01-13-2016, 01:26 PM   #3
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Re: General Electric HQ | TBD | Innovation District

Ny Times article on why GE chose Boston.

http://www.nytimes.com/2016/01/14/te...T.nav=top-news
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Old 01-13-2016, 01:29 PM   #4
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Re: General Electric HQ | TBD | Innovation District

Quote:
Originally Posted by Cobean View Post
Further details on location. 253 Summer st is one of the options.

http://www.bizjournals.com/boston/ne...e.html?ana=twt
Just doing some rough calculations, 253 Summer isn't big enough on its own - 210K square feet. They'd need to either build out the top a la Converse or take the two buildings behind it as well.
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Old 01-13-2016, 01:30 PM   #5
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Re: General Electric HQ | TBD | Innovation District

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Originally Posted by Cobean View Post
Further details on location. 253 Summer st is one of the options.

http://www.bizjournals.com/boston/ne...e.html?ana=twt
So according to this article they will build a new location if needed but they are trying to move into an existing building in fort point first.
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Old 01-13-2016, 01:33 PM   #6
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Re: General Electric HQ | TBD | Innovation District

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Originally Posted by Equilibria View Post
Just doing some rough calculations, 253 Summer isn't big enough on its own - 210K square feet. They'd need to either build out the top a la Converse or take the two buildings behind it as well.
This may be the reason:

"G.E. employs about 800 workers at its Connecticut headquarters. But the head count at its new headquarters will be lower, G.E. has said, because it will not be a base for the administrative jobs currently handled in Fairfield."
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Old 01-13-2016, 01:34 PM   #7
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Re: General Electric HQ | TBD | Innovation District

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So according to this article they will build a new location if needed but they are trying to move into an existing building in fort point first.
So 253 Summer Street would only be for while they build a new HQ elsewhere in the Seaport? It sounds like they're very eager to get out of Connecticut then.

To add my personal thoughts on the matter I think it's great that Boston managed to attract a company as significant as GE to the city, especially when we offered less of a financial incentive than other potential relocation options. It just shows how attractive Boston is to employers just standing on its own merits.
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Old 01-13-2016, 01:36 PM   #8
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Re: General Electric HQ | TBD | Innovation District

Quote:
The content of GEís headquarters will also change, with more emphasis on innovation. In Boston, GE will have roughly 800 people; 200 from corporate staff and 600 digital industrial product managers, designers and developers split between GE Digital, Current, robotics and Life Sciences. A GE Digital Foundry will be created for co-creation, incubation and product development with customers, startups and partners. The remainder of administration will be placed in shared service operations throughout the Company.
From GE.

The Digital Foundry and the other jobs suggest it might be more interested in space near the Reserve Channel. And maybe split space for the corporate staff.

GE is selling its Fairfield and 30 Rockefeller properties.
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Old 01-13-2016, 01:36 PM   #9
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Re: General Electric HQ | TBD | Innovation District

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Originally Posted by stick n move View Post
This may be the reason:

"G.E. employs about 800 workers at its Connecticut headquarters. But the head count at its new headquarters will be lower, G.E. has said, because it will not be a base for the administrative jobs currently handled in Fairfield."
Also from the article:

"Eventually, GE could require between 250,000 square feet and 400,000 square feet for its offices, one source said."
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Old 01-13-2016, 01:38 PM   #10
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Re: General Electric HQ | TBD | Innovation District

So buy now build later I guess. Sounds good to me.
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Old 01-13-2016, 01:39 PM   #11
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Re: General Electric HQ | TBD | Innovation District

The Digital Foundry sounds like an Innovation Lab on steroids, and likely much more space per employee than one would have in corporate administration.

First moves this summer, move complete by end of 2018.
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Old 01-13-2016, 01:59 PM   #12
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Re: General Electric HQ | TBD | Innovation District

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Originally Posted by deh74 View Post
So 253 Summer Street would only be for while they build a new HQ elsewhere in the Seaport? It sounds like they're very eager to get out of Connecticut then.

To add my personal thoughts on the matter I think it's great that Boston managed to attract a company as significant as GE to the city, especially when we offered less of a financial incentive than other potential relocation options. It just shows how attractive Boston is to employers just standing on its own merits.
Deh -- not necessarily -- they said "unofficially of course" that they would rather take something already to go -- but if they have to they would build

Since they are selling both their Fairfield and Rockefeller Plaza buildings -- money doesn't seem to be an issue
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Old 01-13-2016, 02:04 PM   #13
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Re: General Electric HQ | TBD | Innovation District

I won't consider this a done deal until we get through the weeks and weeks of Pittsfield/PCB controversy nexus that is due to erupt in 5....4.....3....2.....

EDIT: For reference...

http://theberkshireedge.com/lenox-wo...p-impact-town/

http://www.nytimes.com/2007/05/01/nyregion/01river.html

...just a guess about what's coming next. Personally I think this is great news for the city and I hope (and expect) that it will happen.

Last edited by CSTH; 01-13-2016 at 02:15 PM.
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Old 01-13-2016, 02:09 PM   #14
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Re: General Electric HQ | TBD | Innovation District

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Since they are selling both their Fairfield and Rockefeller Plaza buildings -- money doesn't seem to be an issue
Have they said where those non-BOS-bound HQ/NYC workers will go? Seems like a tower in New Rochelle NY or Stamford CT would be an ideal consolidation site.
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Old 01-13-2016, 02:11 PM   #15
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Re: General Electric HQ | TBD | Innovation District

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I won't consider this a done deal until we get through the weeks and weeks of Pittsfield/PCB controversy nexus that is due to erupt in 5....4.....3....2.....
CSTH--- HHHHHHUHH???

You might as well bring up all the North Vietnamese and Viet Cong, Iraqi's and Afghan's killed by GE manufactured weapons, and all the military and naval equipment powered by GE gas turbine engines, etc.
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Old 01-13-2016, 02:37 PM   #16
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Re: General Electric HQ | TBD | Innovation District

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Have they said where those non-BOS-bound HQ/NYC workers will go? Seems like a tower in New Rochelle NY or Stamford CT would be an ideal consolidation site.
Will supposedly become 'shared' resources elsewhere in GE. Sounds as if the administrative-function workload will be distributed among GE's various divisions. The HQ organization looks to be quite flat.
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Old 01-13-2016, 02:56 PM   #17
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Re: General Electric HQ | TBD | Innovation District

Quote:
Massachusetts, Boston offered GE $145 mln in perks to moveógovernor

Reuters

35 minutes ago
FILE - This Jan. 16, 2014 file photo shows the General Electric (GE) logo at a store in Cranberry Township, Pa. General Electric on Tuesday, Oct. 13, 2015 announced it is selling three of its corporate lending and leasing units to Wells Fargo as the industrial conglomerate continues to shed its financial units to focus on its core. (AP Photo/Gene J. Puskar, File)

.Report: GE relocating headquarters to Boston

BOSTON, Jan 13 (Reuters) - The state of Massachusetts offered diversified manufacturer General Electric Co $120 million in grants and other financial incentives to persuade it to move to Boston, with the city kicking in another $25 million in tax relief, officials said on Wednesday.

City and state officials regard the move as the linchpin of an effort to redevelop the city's southern waterfront, which has transformed from acres of parking lots to a massive construction site with about a dozen office and apartment towers under construction.

"In addition to adding hundreds of high-paying jobs to our state, we look forward to partnering with GE to achieve further growth across a spectrum of industries and are confident GE will flourish in the Commonwealth's inventive economy," said Massachusetts Governor Charlie Baker.
At this point why not give everybody tax breaks. That will move the economy.
Why take any risks when everything is funded by the Middle Class Taxpayers?
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Old 01-13-2016, 03:17 PM   #18
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Re: General Electric HQ | TBD | Innovation District

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Originally Posted by Equilibria View Post
Just doing some rough calculations, 253 Summer isn't big enough on its own - 210K square feet. They'd need to either build out the top a la Converse or take the two buildings behind it as well.
There are a lot of parking lots back there that could be redeveloped.
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Old 01-13-2016, 03:21 PM   #19
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Re: General Electric HQ | TBD | Innovation District

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There are a lot of parking lots back there that could be redeveloped.
They're not on the same parcel - they'd have to buy them from Gillette first. I'm not sure they're looking to buy 253 Summer in the first place.
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Old 01-13-2016, 03:24 PM   #20
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Re: General Electric HQ | TBD | Innovation District

GE has likely toured a bunch of potential locations, and 253 Summer is just the only one that was leaked to the press.

If they do end up moving to 253 Summer, it will likely just be a temporary home until they can get their final location sorted out by 2018.
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