Liberty Mutual Breaks Ground on $300M Building in Boston

October 19, 2010

Liberty Mutual Group Chairman and CEO Edmund F. Kelly was joined yesterday by Massachusetts Governor Deval Patrick, Boston Mayor Thomas M. Menino, other state and city elected officials, neighborhood representatives and members of the construction trades at a groundbreaking ceremony for the company’s new 22-story, 590,000 square-foot office building at 157 Berkeley Street in Boston.

Liberty Mutual said its more than $300 million expansion project will create 600 new full-time positions at the company and an additional 500 construction jobs. Since January 2008, Liberty Mutual has added 600 employees in Massachusetts, with 300 of those jobs coming to Boston.

Once completed, Liberty Mutual’s new building will generate approximately $82 million in new real estate tax revenue for Boston over 20 years. On an annual basis, Liberty Mutual will pay an estimated total of nearly $13 million per year in real estate taxes on all of its Boston properties, making the insurer one of the largest private taxpayers in the city.

The building is designed to achieve LEED Silver certification and will be nearly 20 percent more energy efficient than a typical large modern office building

Was this article valuable?

Here are more articles you may enjoy.