Commercial & Industrial
Municipalities Will Not Lead on Housing
As passions around the MBTA Communities law rise, it’s time to take a fact-based look at the law, put it in context with what other states are doing and plan accordingly.
Will Boston Multifamily Hit Its Own ‘Wall of Maturities’?
The nation’s multifamily owners are facing a financial crunch as they try to refinance construction and other loans. But Boston is likely to see a lot less distress than Sunbelt cities, experts say.
Downtown Boston Needs More than New Zoning to Bounce Back
Can downtown Boston escape the so-called urban doom loop? Probably. But it’s going to take a lot more than new “skyline” zoning for taller towers to bring it back.
Hot Property: Boston Scientific Innovation Center
A renovation designed by architects Margulies Perruzzi created a 20,000-square-foot training center including interactive learning spaces for doctors and Boston Scientific Corp. employees in Marlborough.
In Speech, Wu Defends Downtown Strategies, Tax Rate Plan
Speaking to the Boston Municipal Research Bureau’s annual meeting Thursday, Boston Mayor Michelle Wu said her plans to increase troubled office towers’ share of the city’s tax burden were vital to “avoid making our housing crisis worse.”
What Does Berklee Have in Store for Fenway Property?
A Fenway commercial property added a major new tenant in Berklee School of Music, a neighborhood institution that’s had a rocky town-versus-gown relationship with residents and Boston officials.
Related Beal Picked to Develop Roxbury, Marine Park Projects
Developer Related Beal received approval to move forward with projects on city-owned properties in South Boston and Roxbury that could include more than 400 housing units and nearly 320,000 square feet of lab space.
Boston Office Rents Drop 10 Percent from Peak
Office vacancies in Boston rose slightly in the first quarter, and a wave of expiring leases in coming months will provide hints at the future direction of the market.
Back Bay Hilton Sold for $171M
An investment partnership that completed a $171 million acquisition of the Hilton Boston Back Bay hotel plans a capital improvement program to modernize the 41-year-old property.
Amid CRE Tax Rate Hike, Should Boston Be Tightening Its Belt?
Only days after announcing a plan to seek state approval to raise property tax rates on commercial property owners, Boston Mayor Michelle Wu filed a $4.6 billion budget plan for 2025 that would hike city spending by 8 percent, or $344 million.
‘Skyline’ Districts Set for BPDA Review
The final downtown Boston rezoning plan encourages multifamily housing and active retail and entertainment uses, while placing limits on research labs.
Eastern Bank, MassDevelopment Fund Chelsea Housing
A Chelsea affordable housing development is securing site control thanks to Eastern Bank and MassDevelopment.
Wu Begins Talks With Lawmakers on Tax Bill
The mayor’s proposal would allow the city to lessen increases in residential property tax bills by temporarily levying that increased tax on commercial real estate for up to five years.
Developer Seeks Two-Year Delay for Somerville Lab Tower
The developer of a 19-story lab tower in Somerville’s Assembly Square is seeking an extension to redesign the project following a change of ownership and continuing sluggishness in life science leasing.
Crews Battle Blaze at Downtown Tower Building Site
A blazing pile of materials outside Hines’ under-construction South Station Tower set off a large response from the Boston Fire Department Tuesday morning.
Capital Group Properties Plans Leominster Development
Southborough-based Capital Group Properties plans to develop a 67,500-square-foot industrial building for completion in early 2025 after acquiring a Leominster parcel.
BXP and MassDOT Sign Deal for Back Bay Tower Development
A deal with the Massachusetts Department of Transportation moved the 1.3 million-square-foot redevelopment of the MBTA’s Back Bay station property closer to groundbreaking.
Dana-Farber Eyes Lab Expansion in Fenway and LMA
Dana-Farber Cancer Institute will expand its lab and research space in Boston’s Longwood Medical Area and the Fenway while its office space shrinks under a permanent remote and hybrid workforce model.
Another Option for Vacant Office Buildings
New hotel construction has slowed to a crawl in Boston since COVID but a new source of room supply is emerging in conversions spurred by the city’s struggling office market.
What Has Zoning Reform Accomplished in Cambridge?
The city sought to remove barriers to affordable housing construction by cutting permitting times and costs. And while funding shortfalls will hurt its full potential, it already appears to be working.
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