Industry News
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.
Big Banks Issue Mixed Profit Reports as JPMorgan Flags ‘Uncertain’ 2024
JPMorgan Chase continued to warn investors Friday that it expects a “uncertain” year for markets and the global economy, citing stubbornly high inflation and ongoing geopolitical tensions.
New Leadership Delays South Coast Rail Start Again
After previously delaying the start of South Coast Rail passenger service by about six months, MBTA officials now say they are reassessing the schedule and do not have an updated timeline to share.
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.
Mass. Employer Confidence Takes a Hit
Confidence among Massachusetts employers stumbled in March for the first time in four months, but remained in optimistic territory, according to the latest survey from the Associated Industries of Massachusetts.
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.
March Inflation Reading Means ‘Bad News’ for Mortgage Rates
Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year
Lamacchia Realty Buys NAR President’s Brokerage
The state’s largest independent residential real estate brokerage now owns the home base of National Association of Realtors President Kevin Sears.
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.
House’s Big Plans For T Include Permanent Workforce Pipeline
House Democrats want to inject hundreds of millions of new dollars into the MBTA, calling for a sharp increase in operating budget support and funding for new initiatives such as a hiring and training program.
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.
When Will Fed Cut Rates? As Economy Flexes Muscles, Maybe Never
The Fed typically cuts only when the economy appears to be weakening and needs help. But with economic data looking strong – the commercial real estate sector aside – will its policymakers see a need to even cut at all?
Jamie Dimon Warns of Potential Interest Rate Spike
With some investors and economists questioning whether the Federal Reserve can make good on interest rate cuts this year, the JPMorgan Chase CEO warned of the possibility of rates rising to 8 percent or higher.