The Building Owners and Managers Association (BOMA) has awarded 1550 Main its Outstanding Building of the Year (TOBY) award in the government building category of the Middle Atlantic Conference. This is the second consecutive year the redevelopment of the former federal building has won this award.
MassDevelopment purchased and undertook the renovation of the former federal office building in 2009 as part of a strategy to revitalize downtown Springfield. The redevelopment of 1550 Main, completed in 2010, included the creation of 130,000 s/f of office space; renovation of the central plaza with new plantings and seating; new entrances, lighting, and signs; lobby and atrium renovations; elevator modernization and replacement; restroom upgrades; and exterior envelope repairs. The building is more than 90% leased.
"We are grateful and honored that BOMA has recognized our efforts to transform 1550 Main into a vibrant part of downtown Springfield," said MassDevelopment president and CEO Marty Jones. "The building has played a role in the City's business and arts communities and will continue to increase economic activities in Springfield."
BOMA represents owners and managers of commercial properties, including nearly 10 billion s/f of U.S. office space that supports 3.7 million jobs and contributes $205 billion to the U.S. economy. Its mission is to advance the interests of the commercial real estate industry through advocacy, education, research, standards and information. BOMA's TOBY awards recognize excellence in building management, operational efficiency, tenant retention, emergency planning and community impact.
MassDevelopment, the state's finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2013, MassDevelopment financed or managed 350 projects generating investment of more than $2.4 billion in the Massachusetts economy. These projects are projected to create more than 7,000 jobs and build or rehabilitate 800 residential units.