Please do not leave this page until complete. This can take a few moments.
Worcester-based UMass Memorial Health Care will bring 500 information-technology employees downtown following the $36 million redevelopment of 100 and 120 Front St. in downtown Worcester.
The downtown location, with a lease signed for 74,000 square feet, for UMass will include hundreds of new jobs, UMass Memorial President and CEO Dr. Eric Dickson said at a Monday morning announcement, as part of the company’s $700 million switch to a new electronic health record system.
The employees would be in place by the end of 2017, with UMass Memorial to begin using 20,000 square feet of space as a training center before the end of 2015. Dickson did not specify how many of the 500 employees at the downtown site would be new, but said the decision to have the office sited in downtown Worcester was made with the continuing redevelopment of the city in mind.
“Five hundred new jobs in downtown is going to make a huge difference,” Worcester Mayor Joe Petty said at the announcement.
The 500 UMass employees will join 1,250 currently working within the two downtown office buildings that were recently purchased for $32.5 million by Franklin Realty Partners.
Franklin announced Monday the two properties will undergo $36 million in upgrades, bringing the total cost of the project to $70.1 million between the property acquisition and redevelopment. The redevelopment will cover a new ground-floor façade, upgrades that will allow UMass Memorial to move in and major updates to the communal areas of the properties, said Gary Schwandt, a principal with Great Point Investors LLC that handled the financing of the project.
Part of the redevelopment will be funded through $1 million in a MassWorks infrastructure grant. The grant was part of a $3 million announcement made Monday by Secretary of Housing and Economic Development Jay Ash. The grant will also cover $2 million in reconstruction of Quinsigamond Avenue leading from the Route 146 interchange to downtown Worcester.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments