From parking lot to R&D building: The Waterfront story. Rendering courtesy of P&G/Gillette.
P&G's Gillette is set to buy a parking lot in South Boston to build its new global headquarters as it shifts properties to make way for the massive redevelopment of its Fort Point Channel campus.
Why it matters: The nearly $1 billion buy is the single largest investment Gillette has ever made in Boston.
The 232 A Street site will host the company's 324,315-square-foot R&D facility.
They're also building a new 200,000-square-foot manufacturing expansion in Andover.
The big picture: The deal is part of a broader shift to move blade and razor manufacturing from South Boston to Andover, starting this year.
What's next: Plans call for the A Street site to open another 1.5 acres of public open space along Fort Point Channel and the Harborwalk to the public.
