Boston, MA – Groundbreaking ceremonies were held recently for Liberty Mutual’s new 22-story, 590,000sf office building at 157 Berkeley Street in Boston.
CBT/Childs Bertman Tseckares of Boston designed the new building. Colliers Meredith & Grew is the project’s development manager. Turner Construction Company is the project’s construction manager.
Liberty Mutual’s 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 the City of 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.
