Massachusetts Governor Charlie Baker, Boston Mayor Martin J. Walsh
join MassMutual leadership at ceremony to commemorate company’s major
expansion & reinvestment in the Commonwealth
MassMutual unveils plans to donate prime office space at 10 Fan Pier
Boulevard to MassChallenge
SPRINGFIELD, Mass. & BOSTON–(BUSINESS WIRE)–Massachusetts
Mutual Life Insurance Company (MassMutual) was joined by
Massachusetts Governor Charlie Baker, Boston Mayor Martin J. Walsh and The
Fallon Company as it broke ground today on the company’s new
commercial building in Boston’s booming Seaport district at 10 Fan Pier
Boulevard. This is an integral milestone in support of MassMutual’s
multi-year plan to expand in its home state of Massachusetts.
Once completed, the new 17-story, 310,000-square-foot building will
house approximately 1,000 MassMutual employees. MassMutual is also
renewing its commitment to Springfield, the city of its founding, by
adding 1,500 jobs to its headquarters by the end of 2021. The
realignment of its geographical footprint will enable MassMutual to grow
and thrive in Massachusetts, realizing the benefits of metropolitan and
suburban locations on both sides of the state.
“Massachusetts is home to one of the nation’s leading innovation
economies and we are excited to welcome MassMutual’s expansion into
Eastern Massachusetts, while also celebrating their continued investment
in Springfield and Western Massachusetts,” said Governor Baker.
“MassMutual has been an economic driver in the Commonwealth for over 160
years, employing Massachusetts residents and investing in the talent of
the next generation. We look forward to MassMutual’s continued success
locally and across the country.”
The company’s Boston location will serve as a hub for its digital and
technology initiatives and give MassMutual greater access to the city’s
financial markets, deeply talented and diverse workforce, and thriving
startup community.
“I’m pleased to welcome MassMutual to Boston’s Seaport District as they
continue to expand in our city and state,” said Mayor Walsh. “With
hundreds of new jobs, MassMutual will add to the mix of dynamic, growing
businesses in Boston’s Seaport, supporting our talented workforce and
contributing to our local economy in Boston.”
Over the last decade, MassMutual has supported more than 1,700
non-profit causes across the state – providing $80 million in grants to
worthy causes. The company has long supported communities across the
Commonwealth and has already begun getting involved in matters important
to the Greater Boston area, just as the company has done in its home
city of Springfield. Through its FutureSmart
program, MassMutual has provided financial education to more than
17,000 middle-schoolers in the Greater Boston area. The company also
recently contributed
$1 million to Boston’s Way Home Fund to help end chronic
homelessness in the city.
Last year, MassMutual became a founding partner of the MassChallenge
FinTech Accelerator, which is headquartered in Boston and supports
startups in the financial technology industry. As a continuation of its
support for the program and to foster an ecosystem of innovation across
the state, MassMutual announced during today’s celebration that the
company will be giving prime office space in its new building to
MassChallenge.
“Today marks a pivotal milestone for MassMutual as we take tangible
steps to create a better company for future generations of policyowners,
customers and employees,” said Roger Crandall, MassMutual Chairman,
President and CEO. “Expanding on both ends of the state – from
Springfield to Boston – allows us to tap into the incredible talent pool
and network of higher education institutions that Massachusetts offers.
Our new location at Fan Pier gives us the opportunity to immerse
ourselves in one of America’s leading centers for innovation. As we
break ground on our new building, we look forward to playing an
important role in the future of the Commonwealth of Massachusetts, our
home since our founding in 1851.”
Designed by award-winning Boston-based Elkus Manfredi Architects, and
developed by The Fallon Company, 10
Fan Pier Boulevard will add to the aesthetic of the Fan Pier
neighborhood with a distinctive curvaceous façade comprised of faceted
glass. The multi-story commercial tower will feature tiered terrace
levels on the 13th floor and rooftop, with sweeping views of Boston’s
harbor. Additionally, a 5,900-square-foot outdoor public plaza at the
base of the building, designed by landscape architect Richard Burck
Associates, will include an elegant water feature and enhance the
streetscape.
“Breaking ground on MassMutual’s new Boston building brings us full
circle in the development of this neighborhood since The Fallon Company
and MassMutual began our joint venture at Fan Pier in 2005,” said Joe
Fallon, CEO of The Fallon Company. “Fan Pier is a dynamic urban center
in Boston, with a vibrant environment well-suited for progressive,
civic-minded companies like MassMutual to thrive. We look forward to
welcoming MassMutual and its Boston-based employees as fixtures at Fan
Pier.”
Fan Pier is a joint venture of The Fallon Company and Barings, a
MassMutual asset management affiliate. The $4 billion mixed-use
neighborhood encompasses three million square feet of commercial and
residential real estate, public space, civic and cultural space, with
direct access to the Boston Harbor waterfront and a multitude of
transportation options. 10 Fan Pier Boulevard will be the final
commercial tower at Fan Pier and is expected to be completed in late
2021.
About MassMutual
MassMutual is a leading mutual life insurance company that is run for
the benefit of its members and participating
policyowners. MassMutual offers a wide range of financial products and
services, including life insurance, disability income insurance, long
term care insurance, annuities, retirement plans and other employee
benefits. For more information, visit www.massmutual.com.
About The Fallon Company
The Fallon Company is a privately held commercial real estate owner
and developer headquartered in Boston, Massachusetts with regional
offices in Charlotte and Raleigh, North Carolina. Founded in 1993, The
Fallon Company has developed more than six million square feet of
property, representing more than $5 billion in real estate. It is
proudly recognized as a leader in mixed-use urban development and one of
the most active private developers on the East Coast. Fallon brings to
its projects a unique focus on large-scale urban design geared toward
transforming neighborhoods into cohesive, community-driven environments.
For more information, visit www.falloncompany.com.
Contacts
Laura Crisco, [email protected],
(413) 744-2370
