Kemba Credit Union will build a 147,000 square-foot, eight-story corporate headquarters building in West Chester Township, Ohio.
The project will cost more than $28 million.
Groundbreaking is scheduled for May this year.
The $1 billion credit union had initially planned to build a 90,000 square-foot building.
Butler County in 2019 approved a seven-year, 75 percent property tax abatement for the project through the enterprise zone program.
Read more.
Showing posts with label HQ. Show all posts
Showing posts with label HQ. Show all posts
Sunday, March 22, 2020
Thursday, March 5, 2020
Atlantic FCU Pays $18.1 Million for New HQ
Atlantic Regional Federal Credit Union (Brunswick, ME) paid $18.1 million for an office building in South Portland that will become its new headquarters, according to MaineBiz.
The three-story 97,376-square-foot building was built in 1992.
About 81,000 square feet of the building is currently leased to four insurance companies. The credit union will initially occupy 16,000 square feet; but as tenants' leases expire, the credit union will occupy that space.
The rental income from tenants will not be subject to federal income tax, as federal credit unions are exempt from unrelated business income taxes.
Read more.
The three-story 97,376-square-foot building was built in 1992.
About 81,000 square feet of the building is currently leased to four insurance companies. The credit union will initially occupy 16,000 square feet; but as tenants' leases expire, the credit union will occupy that space.
The rental income from tenants will not be subject to federal income tax, as federal credit unions are exempt from unrelated business income taxes.
Read more.
Sunday, March 1, 2020
Collins Community New HQ Building to Open in June
Collins Community Credit Union (Cedar Rapids, IA) will open its new 101,000 square-foot headquarters building this June, according to The Gazette.
The estimated cost for the headquarters project is $25 million.
The new headquarters building will include a first floor branch with second and third floor office spaces. Other features include a gym and rooftop studio.
The credit union also plans to lease 9,500 square feet of space.
Read more.
The estimated cost for the headquarters project is $25 million.
The new headquarters building will include a first floor branch with second and third floor office spaces. Other features include a gym and rooftop studio.
The credit union also plans to lease 9,500 square feet of space.
Read more.
Tuesday, October 22, 2019
Ent CU to Start Construction on 7-Story HQ Building
Ent Credit Union (Colorado Springs, CO) will break ground on its seven-story, 330,000 square-foot headquarters building on October 23.
The new headquarters building will house the credit union' call center, consumer and mortgage lending, information technology, finance and accounting, human resources, member services, and administrative and executive teams.
The cost of the project was not disclosed.
Read more.
The new headquarters building will house the credit union' call center, consumer and mortgage lending, information technology, finance and accounting, human resources, member services, and administrative and executive teams.
The cost of the project was not disclosed.
Read more.
Saturday, October 5, 2019
Landmark CU Pays $8 Million for Property for Future HQ
Landmark Credit Union (New Berlin, WI) paid $8 million for a property in Brookfield that will be the future home of its corporate headquarters, according to BizTimes.
The $4.3 billion credit union plans to build a a five-story, 158,000-square-foot headquarters building on the property.
The credit union may opt to build an additional 148,000-square-foot office building in the future.
Read more.
The $4.3 billion credit union plans to build a a five-story, 158,000-square-foot headquarters building on the property.
The credit union may opt to build an additional 148,000-square-foot office building in the future.
Read more.
Sunday, May 19, 2019
Two CUs Move Forward with New HQ Buildings
Two credit unions are moving forward with new headquarters buildings.
Advia Credit Union (Parchment, MI) broke ground on a new 150,000-square-foot headquarters building in Oshtemo Township.
The new headquarters building will include a branch, ATM and night deposit box.
It will include seminar rooms, as well as retail spaces for lease by local businesses on the first floor.
The design also calls for outdoor terraces that will overlook a landscaped water feature.
Hampden Township Planning Commission (PA) recommended a plan for a three-story 172,000-square-foot corporate headquarters building for Members 1st Federal Credit Union (Mechanicsburg, PA).
The plan can come up for approval before the Hampden Township Board of Commissioners as early as May 30.
The price tag for each project was not disclosed.
Advia Credit Union (Parchment, MI) broke ground on a new 150,000-square-foot headquarters building in Oshtemo Township.
The new headquarters building will include a branch, ATM and night deposit box.
It will include seminar rooms, as well as retail spaces for lease by local businesses on the first floor.
The design also calls for outdoor terraces that will overlook a landscaped water feature.
Hampden Township Planning Commission (PA) recommended a plan for a three-story 172,000-square-foot corporate headquarters building for Members 1st Federal Credit Union (Mechanicsburg, PA).
The plan can come up for approval before the Hampden Township Board of Commissioners as early as May 30.
The price tag for each project was not disclosed.
Sunday, April 7, 2019
Blackhawk Community CU Proposes New Deal to City for HQ Building
Blackhawk Community Credit Union is asking the city of Janesville to cover site preparation costs for its proposed downtown headquarters instead of a more traditional tax increment financing deal.
Under the proposed arrangement, the city would pay an estimated $7.1 million upfront to acquire and demolish properties, relocate utilities, and perform an environmental cleanup, according to a city memorandum.
That contrasts with the city’s original offer—a 15-year, $6.1 million, pay-as-you-go TIF deal plus $1.9 million in upfront costs for an $8 million city investment.
Read the memorandum.
Read the story.
Under the proposed arrangement, the city would pay an estimated $7.1 million upfront to acquire and demolish properties, relocate utilities, and perform an environmental cleanup, according to a city memorandum.
That contrasts with the city’s original offer—a 15-year, $6.1 million, pay-as-you-go TIF deal plus $1.9 million in upfront costs for an $8 million city investment.
Read the memorandum.
Read the story.
Monday, April 1, 2019
Summit CU's New HQ Open for Business
Summit Credit Union (Madison, WI) officially opens its new 152,000-square-foot, six-story headquarters facility and campus.
The new headquarters building is in Cottage Grove.
The new building features improved workspaces for employees, highlighted by eco-friendly flooring and lighting. There is also a 17,500-gallon rainwater harvest cistern to capture and reuse rainwater, as well as electric car chargers for Summit employees and members.
The campus has outdoor recreational spaces, including sand volleyball courts and a bike path.
The new headquarters building is in Cottage Grove.
The new building features improved workspaces for employees, highlighted by eco-friendly flooring and lighting. There is also a 17,500-gallon rainwater harvest cistern to capture and reuse rainwater, as well as electric car chargers for Summit employees and members.
The campus has outdoor recreational spaces, including sand volleyball courts and a bike path.
Saturday, March 16, 2019
Centris FCU to Start Construction on $30 Million HQ Building
Centris Federal Credit Union (Omaha, NE) will start this spring construction on $30 million corporate headquarters building in the Sterling Park office park.
The facility will be a four-story, 115,000-square-foot building.
The new building will include an outdoor patio and community meeting room.
Centris expects to lease a portion of the building to other tenants. Since federal credit unions are exempt from unrelated business income taxation, income from leasing this excess space will not be taxed.
Read more.
The facility will be a four-story, 115,000-square-foot building.
The new building will include an outdoor patio and community meeting room.
Centris expects to lease a portion of the building to other tenants. Since federal credit unions are exempt from unrelated business income taxation, income from leasing this excess space will not be taxed.
Read more.
Tuesday, February 26, 2019
State Economic Development Board Approves $750,000 in Tax Incentives for Dupaco's HQ
The Iowa Economic Development Authority board members voted unanimously on February 22 to award up to $750,000 in tax incentives to Dupaco Community Credit Union (Dubuque, IA).
The tax benefits are associated with Dupaco Community Credit Union's headquarters project.
In January 2019, the Dubuque City Council members approved a development agreement that included 15 years of tax-increment financing rebates totaling $5.2 million. Initial estimates of the tax-increment financing rebates were $2 million.
Read the story.
The tax benefits are associated with Dupaco Community Credit Union's headquarters project.
In January 2019, the Dubuque City Council members approved a development agreement that included 15 years of tax-increment financing rebates totaling $5.2 million. Initial estimates of the tax-increment financing rebates were $2 million.
Read the story.
Thursday, February 7, 2019
Advia CU to Construct 150,000-Square-Foot HQ Building
Advia Credit Union (Parchment, MI) is planning a new corporate headquarters on a 38-acre site in Oshtemo Township, Michigan.
The $1.7 billion credit union will break ground on a three-story, 150,000-square-foot building this spring.
The new headquarters will initially house nearly 240 employees, but has the capacity to house 460 employees.
The new headquarters building will include retail space for lease on the first floor.
Outdoor terraces will overlook a landscaped water feature.
The price tag for the project was not disclosed.
Read the press release.
The $1.7 billion credit union will break ground on a three-story, 150,000-square-foot building this spring.
The new headquarters will initially house nearly 240 employees, but has the capacity to house 460 employees.
The new headquarters building will include retail space for lease on the first floor.
Outdoor terraces will overlook a landscaped water feature.
The price tag for the project was not disclosed.
Read the press release.
Friday, January 18, 2019
Ent CU to Build 300,000 Square Foot HQ Building
Ent Credit Union (Colorado Springs, CO) announced that it will start construction on its new corporate headquarters this summer.
Ent Credit Union will build a 300,000 square-foot building.
The credit union plans to build an adjacent parking garage to accommodate its workforce of about 500.
The new headquarters building will house Ent’s call center, consumer and mortgage lending, information technology, finance and accounting, human resources, member services, administration and the executive team.
The $5.6 billion credit union expects to move into its new headquarters building in 2021.
The cost of the project was not disclosed.
Read the story.
Ent Credit Union will build a 300,000 square-foot building.
The credit union plans to build an adjacent parking garage to accommodate its workforce of about 500.
The new headquarters building will house Ent’s call center, consumer and mortgage lending, information technology, finance and accounting, human resources, member services, administration and the executive team.
The $5.6 billion credit union expects to move into its new headquarters building in 2021.
The cost of the project was not disclosed.
Read the story.
Thursday, January 17, 2019
Dubuque Proposes Tax Increment Financing Rebate for Dupaco Community CU's Development Project
The City of Dubuque, Iowa has proposed tax incentives for the development of a property located at 1000 Jackson Street in the Historic Millwork District by Dupaco Community Credit Union.
Under the proposed agreement, the credit union will make a $38 million capital investment in the 82,800 square foot facility, which will serve as the credit union's headquarters.
The credit union will occupy the top three floors of the building and prepare the rest of the building for commercial tenants.
Dupaco Community Credit Union will retain its current 150 employees in Dubuque and add at least 40 full-time employees employees to its Dubuque operations by October 1, 2023.
As part of the agreement, the city will provide an Urban Renewal Tax Increment Revenue Obligation for 15 years of Tax Increment Financing rebates of property tax increases, which is not expected to exceed $2 million.
The credit union is also requesting state incentives for the project.
A hearing on the project is scheduled for January 22, 2019.
Read the documents.
Under the proposed agreement, the credit union will make a $38 million capital investment in the 82,800 square foot facility, which will serve as the credit union's headquarters.
The credit union will occupy the top three floors of the building and prepare the rest of the building for commercial tenants.
Dupaco Community Credit Union will retain its current 150 employees in Dubuque and add at least 40 full-time employees employees to its Dubuque operations by October 1, 2023.
As part of the agreement, the city will provide an Urban Renewal Tax Increment Revenue Obligation for 15 years of Tax Increment Financing rebates of property tax increases, which is not expected to exceed $2 million.
The credit union is also requesting state incentives for the project.
A hearing on the project is scheduled for January 22, 2019.
Read the documents.
Tuesday, December 11, 2018
Landmark Exploring New HQ Building Site
The Milwaukee Journal Sentinel is reporting that Landmark Credit Union (New Berlin, WI) is exploring buying 19.5 acre site in the city of Brookfield for a new headquarters building.
The $3.9 billion credit union would construct a 150,000 to 160,000 square-foot building on the site.
The credit union hopes to close on the property by next spring or summer.
The price tag of the project was not disclosed.
Read the story.
The $3.9 billion credit union would construct a 150,000 to 160,000 square-foot building on the site.
The credit union hopes to close on the property by next spring or summer.
The price tag of the project was not disclosed.
Read the story.
Wednesday, October 17, 2018
Township Proposes Property Tax Exemption for Construction of New CU HQ
West Chester Township (OH) Trustees voted on October 9th to recommend to the Butler County Board of Commissioners an agreement to give Kemba Credit Union (West Chester, OH) a 75 percent property tax exemption on a new corporate headquarters for 7 years.
Kemba applied for the property tax exemption under the Ohio Enterprise Zone Program.
Kemba is proposing to build a 90,000-square-foot corporate headquarters in the township on 7 acres of undeveloped land it purchased in August near its current headquarter.
Read the story.
Kemba applied for the property tax exemption under the Ohio Enterprise Zone Program.
Kemba is proposing to build a 90,000-square-foot corporate headquarters in the township on 7 acres of undeveloped land it purchased in August near its current headquarter.
Read the story.
Saturday, September 29, 2018
Blackhawk Community CU to Build $30 Million HQ Building
Blackhawk Community Credit Union plans to build a new, $30 million headquarters along the Rock River in Janesville, Wisconsin.
The 130,000-square-foot, four-story building will include a 10,000-square-foot Legacy Center, which will house historical artifacts reflecting the history of the community, particularly related to the Janesville GM plant which operated from 1919 to 2009.
The building also is planned to house a new credit union branch, a restaurant, a wellness center, 12 condominiums, law offices, a day care and retail space. It also will include the 10,000-square-foot Lea McGuire Conference Center.
Read the story.
The 130,000-square-foot, four-story building will include a 10,000-square-foot Legacy Center, which will house historical artifacts reflecting the history of the community, particularly related to the Janesville GM plant which operated from 1919 to 2009.
The building also is planned to house a new credit union branch, a restaurant, a wellness center, 12 condominiums, law offices, a day care and retail space. It also will include the 10,000-square-foot Lea McGuire Conference Center.
Read the story.
Thursday, August 23, 2018
Summit CU Tops Off New HQ Building
Summit Credit Union (Madison, WI) has topped off its new six-story, 152,000 square-foot headquarter's building in Cottage Grove, Wisconsin.
The building will include exercise and meditation rooms, a sand volleyball court, a cafeteria, and walking and biking paths.
The new corporate headquarters is scheduled to open in 2019.
The price tag of this project was not disclosed.
Read the press release.
The building will include exercise and meditation rooms, a sand volleyball court, a cafeteria, and walking and biking paths.
The new corporate headquarters is scheduled to open in 2019.
The price tag of this project was not disclosed.
Read the press release.
Sunday, August 5, 2018
Update on VyStar CU's Purchase of Downtown Office Tower
On June 7th, I reported on the purchase of a downtown Jacksonville office tower by VyStar Credit Union (Jacksonville, FL).
The Jacksonville Daily Record is reporting that VyStar paid $59 million for the 23-story office tower. The purchase also includes a 612-space parking garage.
The credit union will occupy 11 floors of the 358,278-square-foot tower.
Read the story.
The Jacksonville Daily Record is reporting that VyStar paid $59 million for the 23-story office tower. The purchase also includes a 612-space parking garage.
The credit union will occupy 11 floors of the 358,278-square-foot tower.
Read the story.
Friday, July 27, 2018
Sharonview FCU to Relocate to 182,000 Square-Foot Facility
Sharonview Federal Credit Union (Fort Mill, SC) is relocating its corporate headquarters.
The corporate headquarters building will be 182,000 square feet. The project is expected to cost $42 million.
It is anticipated that the new headquarters site will open in late 2018.
Sharonview has almost $1.6 billion in assets, as of March 2018.
Read the story.
The corporate headquarters building will be 182,000 square feet. The project is expected to cost $42 million.
It is anticipated that the new headquarters site will open in late 2018.
Sharonview has almost $1.6 billion in assets, as of March 2018.
Read the story.
Thursday, June 7, 2018
VyStar CU Buying the SunTrust Tower in Jacksonville (FL)
VyStar Credit Union (Jacksonville, FL) is buying the 23-story SunTrust Tower in Downtown Jacksonville and will rename the building VyStar Tower.
VyStar expects to close on the purchase of the almost 400,000 square-foot building in the next 30 to 45 days.
It will take a period of 12 to 18 months for $7.6 billion Vystar to relocate its headquarters.
The price tag of the transaction was not disclosed.
Read the story.
VyStar expects to close on the purchase of the almost 400,000 square-foot building in the next 30 to 45 days.
It will take a period of 12 to 18 months for $7.6 billion Vystar to relocate its headquarters.
The price tag of the transaction was not disclosed.
Read the story.
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