Cape Cod 5 executives cut the ribbon to open the bank’s new Hyannis Headquarters Tuesday.
HYANNIS – Cape Cod 5 unveiled its new Hyannis campus Tuesday with a ribbon cutting ceremony and building dedication.
The 11.25-acre parcel between Route 132 and Attucks Lane includes the company headquarters, also known as HQ5, a banking center and parking garage.
The campus includes 92,000 square feet of building space and a 10,000-square-foot courtyard.
The 80,000-square-foot headquarters includes a variety of employee work spaces, natural light throughout, state-of-the-art technology, a café and fitness center.
Cape Cod 5 Chair and CEO Dorothy Savarese said they are excited to be officially opening the campus.
“This has actually been years in the making for us to get to this point,” she said. “To see it finally open officially is just a real milestone for the bank.”
Cape Cod 5 purchased the Route 132 and Attucks Lane property on March 2014 and broke ground on the headquarters in October 2017.
The banking center property at 1550 Iyannough Road (Route 132) was purchased a month after the ground breaking.
The final beam for the headquarters was placed in July 2018 and construction was completed last month.
“So many people contributed to this and this is really a wonderful collective effort,” Savarese said.
About 100 employees have already moved into the new facility.
“The groups that were moved in were the folks who were helping actually get the building ready,” Savarese said.
The executive team moved into the building first about three weeks ago to help work out the bugs and help other staff with the transition.
Cape Cod 5 Co-President Matthew Burke said excitement is high among the staff still waiting to make the move.
“Ever since we had an employee tour about a month ago and brought all our employees throughout the building it created a tremendous amount of buzz,” he said.
The transition of employees to the new headquarters is expected to be completed within the next month.
Savarese says the new facility should make administrative offices more efficient and provide better service for customers and communities.
“Being able to be here in one place that’s imbued with technology, that has collaborative spaces and open spaces, and allows people to move around and interact with each other – we think is going to be transformative,” Savarese said.
When the move is complete, about 300 employees will be housed in HQ5.
Administrative offices had been spread out over four and a half locations.
“Once everybody is in here, all of the banks operational staff with be on this campus,” said Bert Talerman, Cape Cod 5 co-president. “All our other facilities will be customer facing facilities.”
Savarese said the new headquarters fits with the institution’s “one bank” philosophy.
“We work collaboratively in an innovative way to find solutions and to help people navigate through,” she said.
“It also means from the customers perspective, they don’t have to navigate their way through. They just have to deal with one person and we’ll find everything out.”
The Hyannis Route 132 Banking Center, at 1550 Iyannough Road, also officially opened Tuesday.
The headquarters and banking center and unified by the parking garage and there is pedestrian access between the facilities.
Wealth management professionals will be at the location with banking center and business line representatives.
“There will be a learning and development center on the first floor, but the front will be a place where we can actually innovate with new opportunities for serving customers and trying things out,” Savarese said.
“Then we’ll be able to see how they are going and observe the customers and ask them how they are doing.”
Savarese said having the banking center on the campus will be the most convenient option for customers on the north side of town.
Burke said Cape Cod 5 believes HQ5 was constructed to be as future-proof as possible.
“We know with how fast technology changes that was a tall task,” he said.
That starts with employees operating on laptop and tablet devices which allows them to utilize several different workspaces, including the café, and be productive throughout the entirety of the building.
Burke said all rooms were also fitted with the appropriate audio/visual technology.
“There were a lot of different configurations of size of rooms, furniture, A/V, and thinking about it all together to create a job collaborative experience for our employees,” Burke said.
They also made sure that Wi-Fi access was accessible throughout the building and courtyard.
The building also features smart windows which are predictive and self-tint based on the position of the sun and the amount of light coming into rooms.
“It maintains the visibility to the outside without the need for blinds or those sorts of things,” Burke said.
The building systems are advanced and provides for high performance and environmental efficiency.
Cape Cod 5 administrators traveled to visit several technology and biopharmaceutical companies, and consulting firms around Boston to get inspiration for its new headquarters.
“We wanted to find out how people want to work and learn about what leads to employee engagement,” Savarese said.
The headquarters, in terms of size and scale, is a first of its kind on Cape Cod, along with the structured parking garage.
The campus includes a total of 386 parking spaces, including 217 in the garage.
The total land and construction costs for the project came in around the $45 million estimated price tag.
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