MassDevelopment has secured a $90 million financing package for the purchase and upgrade of land and two buildings for the future global headquarters of GE. Supplied by Citizens Bank, the funding will be for the 391,000 square-foot headquarters complex and the 2.5-acre campus facing Fort Point Channel. The headquarters will include two former Necco candy manufacturing warehouses, which GE plans to renovate. MassDevelopment will use the Citizens loan to acquire the site, which the Agency will lease to GE, and to help improve the buildings at 5 and 6 Necco Court and create public open space. Separate from this transaction, GE is acquiring an adjoining parcel on which it will build a 12-story glass office building as part of the campus.
