Cape Cod 5's proposed new campus in Hyannis.

Community leaders, including state and local officials, joined Cape Cod Five’s trustees, corporators, senior officers and building partners on Tuesday to officially break ground on the bank’s new campus in Hyannis. The ceremony, which took place at the site on Route 132, marked the start of construction on the new campus, which is planned to be completed by mid-2019.

“The commencement of this $45 million construction project marks the beginning of an exciting new chapter for the Bank,” Dorothy A. Savarese, president and CEO of Cape Cod Five, said in a statement. “This campus will help the bank support all five parts of its community commitment through the provision of a new banking center, office space that will consolidate approximately 300 employees who are currently working in multiple administrative offices, a new environmentally-sensitive 78,000-square-foot building, the first parking structure on Cape Cod … and space for financial education and community activities.”

The project includes redeveloping the 8.64-acre bank-owned property on Route 132 and Attucks Lane in Hyannis, which currently encompasses the former Ethan Allen furniture store and one of the bank’s administrative offices, both of which will be demolished for the new building.

The new building on the site was designed by Yarmouth Port-based firm Brown Lindquist Fenuccio & Raber Architects Inc. Other project team partners include the construction company Dellbrook/JKS; the site engineer VHB; and the Law Office of Singer & Singer LLC.