A rendering of the proposed $45 million headquarters in Hyannis for Cape Cod Five Cents Savings Bank.
HYANNIS – The Cape Cod Commission is reviewing plans for a new headquarters for the Cape Cod Five Cents Savings Bank in Hyannis.
The $45 million, 78,000-square-foot facility with additional parking structure would be built at Route 132 and Attucks Lane.
“We are extremely excited to be making this investment here in our community to build a first-class, modern banking center and workplace for a whole bunch of employees,” said Bert Talerman, Cape Cod Five’s first executive vice president and executive lending officer.”
Talerman said the facility will take the organization into the future.
“It creates wonderful efficiencies in terms of our ability to serve our customers and plan for the future,” he said. “And also being able to recruit talent to make it exciting and desirable to work for us.”
The new facility will consolidate all the bank’s administrative empolyees under one roof and also provide banking services for customers.
Plans call for the former Ethan Allen building facing Route 132 and a smaller building behind it on Attucks Lane to be taken down to make way for the new facility and parking structure, according to Chris Raber, the chief real estate officer for Cape Cod Five.
Talerman said the plans have been in the works for many years.
“This was a location that we have eyed for a long, long time,” he said. “Planning takes a long time. Permitting takes time.”
Raber hopes the proposal will be approved by the Commission in the not-to-distant future.
“Then we go to the town and with all good luck we’ll be ready to start at the end of this year,” Raber said.
Raber said the bank hopes to have the new facility built and occupied by early 2019.
The new facility will also take into account environmental considerations and will be hooked into the sewer system and include onsite solar.
There has also not been a final determination on what will happen with current buildings housing administration.
“We continue to grow and in all likelihood need some of those facilities for other things,” Talerman said. No decisions have been made about how we repurpose some of that other real estate.”
There are no planned closures of customer service branches.
“This is an expansion in terms of providing access to our customers,” Raber said.
By BRIAN MERCHANT, CapeCod.com NewsCenter
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