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.
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.