The sound of power tools filled the air Monday as representatives from the A.D. Makepeace Company and Cape Cod Five Cents Savings Bank spoke of their commitment to Wareham and shoveled a ceremonial pile of dirt to mark the beginning of construction of Rosebrook Place.

The mixed-use development at the intersection of Routes 495 and 195 will feature a hotel, retail shops, offices, apartments and – in the building now under construction – Cape Cod Five’s first full-service off-Cape branch operation.

“People say, ‘Why are you investing here today?’ and it’s because we think great things are going to happen in Wareham and we think this is the place to be,” said Dorothy Savarese, Cape Cod Five president and CEO.

The bank’s building, which will also house a coffee shop and office space, is the first structure going up at Rosebrook Place, located on Route 28 near interstates 195 and 495.

A 90-room TownPlace Suites by Marriott hotel is next on the list for construction. Groundbreaking will likely occur in the fall.

“It just is such a remarkable day and it’s also such a remarkable moment for the bank,” Savarese said of breaking ground on the bank’s first off-Cape branch.

A.D. Makepeace President and CEO Michael Hogan said that the company was thrilled to have found a partner that shares its values and sense of responsibility to the community.

"Here we are today, celebrating the beginning of this next chapter of investment in the Town of Wareham. And as an outsider working here for the last nine years, one of the things that I constantly find myself reminding people of here in Wareham is this is a great place to invest," said Hogan. "This is a great place to be able to grow your business and to launch your business and to invest and to expand. Every time we have an opportunity to celebrate somebody who shares that commitment, it's a wonderful day for the region and for the community.”

Savarese echoed that sentiment.

“When we make an investment in a community, it's not a toehold, it's a commitment," she said. "For us to have our very first full-service branch on this side of the [Cape Cod] Canal is opening a brand new chapter for the bank, and such an exciting one.”

Chris Richards, Cape Cod Five vice president, will serve as regional manager for Southeastern Massachusetts. Wareham native Jim Austin will lead its residential lending efforts. Austin currently operates a lending office in Marion. That location will remain open.

Also on hand for Tuesday's ceremony were Selectmen Chair Peter Teitelbaum, State Rep. Susan Williams Gifford (R-Wareham), and Town Administrator Derek Sullivan.

Teitelbaum thanked A.D. Makepeace and Cape Cod Five for the investment in the town, noting that for the bank's first foray over the bridge, "there obviously are a lot of other places they could have gone."

Teitelbaum also thanked Town Meeting voters who OK'd an agreement that will temporarily reduce local taxes for the soon-to-be-built Marriott hotel at the site, which paved the way for the project to receive state aid and accelerated the development as a whole.

Selectman Alan Slavin and his wife, Sandy, were also in attendance. Hogan thanked both for their service on various boards and committees in town — many of which weighed in on the Rosebrook Place project throughout the process.

Rep. Gifford noted that Rosebrook Place was on her radar as far back as the early 2000s when she served as a Selectman.

Rosebrook Place is "going to be such a wonderful addition to our community and will provide much-needed services," she said.

Sullivan said he was excited to welcome Cape Cod Five to Wareham.

"It's wonderful to see an established business and new-to-Wareham business working together," he said. "Cape Cod Five is a good resident wherever they go."

When all construction is completed, Rosebrook Place will have six to eight buildings with a mixture of office and retail space, 36 apartments, a restaurant, a pharmacy, the bank, and the hotel with a 300-seat conference center.

The development is situated next to A.D. Makepeace's Rosebrook Business Park, which currently features a medical office building occupied almost exclusively by Southcoast Hospital Group.