EASTHAMPTON — Greenfield Savings Bank held a groundbreaking event this week to mark the development of a new bank branch on Route 10, envisioned as a southern headquarters in western Massachusetts.

Roughly 40 people were in attendance at 93-97 Northampton St. on Tuesday to see the design of the new Greenfield Savings Bank branch, which will be the first building in a large mixed-use development called Sierra Vista Commons.

“It’s not really just a branch; this is really going to be our southern headquarters so we can continue to do business into Hampden County as well as Hampshire County,” explained Greenfield Savings Bank President and CEO Thomas J. Meshako.

Other Greenfield Savings Bank locations in Hampshire County include branches in Northampton, Hadley and Amherst, making the new Easthampton branch the southernmost location. There are a total of nine branches across Hampshire and Franklin counties.

“The bank has seen, over the last few years, a lot of growth with commercial lending, specifically in Easthampton, and that was really the catalyst for us making the decision to come down here,” explained Greenfield Savings Bank First Vice President Kevin De Rosa, who is overseeing the project. “We’re excited to come into Easthampton. We don’t just have branches; we engrain ourselves in the community.”

Greenfield Savings Bank serves more than 400 customers in Easthampton and holds nearly 1,000 loan and deposit accounts locally. The full-service branch will offer access to experts in wealth management and trust services, as well as commercial lending and mortgage services.

The building is expected to be constructed by Dec. 15, with construction beginning within the next month after the extraction of several underground clusters of clay that must be removed. A grand opening is slated for January 2026. The branch will have a modern, two-story design, according to Meshako.

Mayor Nicole LaChapelle was also in attendance to welcome Greenfield Savings Bank to the community, noting that the new branch is part of a much larger development for the city.

“This is a part of the biggest mixed-use development Easthampton has ever seen since a mill has been built,” LaChapelle said.

Greenfield Savings Bank had reached out to Frank DeMarinis, who bought the 33-acre Sierra Vista Commons property for $2.2 million in 2022, about the location being ideal for a new branch.

“This is where we think the growth in Easthampton really is,” Meshako explained.

Construction of future projects will occur in phases. In approximately six months, DeMarinis plans to begin construction on the next building, a roughly 9,000-square-foot Roots Learning Center and a 7,000-square-foot Roots Gymnastic Center. After construction of the learning center and gymnastic center, other projects will begin with no projected construction date, including 188 apartments — 54 of which would be affordable housing units — spread across 10 mid-rise apartment buildings. Additionally, one sit-down restaurant, one stand-alone retail building, two 7,400-square-foot mixed-use warehouse buildings and one mixed-use building with ground floor retail or commercial use and 14 apartments above are planned to be built.

“Greenfield Savings is not a stranger to Easthampton,” LaChapelle said of the bank’s involvement in the community. “The branch has grown bigger and we’re delighted to be your southern hometown location.”

Sam Ferland can be reached at sferland@gazettenet.com.