Athletic shoe giant New Balance opens new Boston headquarters as part of ambitious development

MarketsAssociated Press

New Balance is opening its new global headquarters.

The athletic shoe and sports apparel giant planned a tour of the new, 250,000 square foot space in Boston's Brighton neighborhood on Thursday. Company president and CEO Rob DeMartini is among the scheduled speakers.

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The new headquarters, located near New Balance's current home, is part of an ambitious, 15-acre development along the Massachusetts Turnpike by the company's real estate development arm.

The estimated $500 million project includes a new practice and training facility for NHL's Boston Bruins, a track and field complex, a 175-room boutique hotel, 650,000 square feet of office space, 80,000 square feet of retail and restaurant space, 1.4 acres of open space and a new commuter rail station.

Harvard Business School's publishing house, currently located in Watertown, inked a deal earlier this year to be among the complex's new tenants.

The Bruins facility is expected to open next year, as is the commuter rail station, which will cost roughly $15 million. It's to be financed by New Balance and be a stop along the line serving the state's two biggest cities — Boston and Worcester.

New Balance owns five factories in New England and one in the United Kingdom. The company employs over 5,000 workers and reported sales of $3.3 billion in 2014.