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Somerville Board Supports 384K SF McGrath Lab Project

By Steve Adams | Banker & Tradesman Staff | May 13, 2021 | Reprints | Unlock Link

Somerville officials have backed a developer’s plans for a life science development wedged between the MBTA Green Line Extension and McGrath Highway.

RMS to Merge with Guild Mortgage

May 13, 2021 | Reprints

The Massachusetts mortgage industry is set to gain a new face when Residential Mortgage Services merges with Guild Mortgage later this year.

Five Firms Seek to Lead Downtown Haverhill Redevelopment

By Steve Adams | Banker & Tradesman Staff | May 13, 2021 | Reprints | Unlock Link

Five developers have submitted plans for housing and commercial space on a 4.5-acre Haverhill property that’s viewed as a linchpin of downtown revitalization efforts.

Brighton Concert Hall Namechecks Local Rock Lore

By Steve Adams | Banker & Tradesman Staff | May 12, 2021 | Reprints | Unlock Link

Boston Landing’s new concert venue pays homage to Jonathan Richman and the Modern Lovers, naming the 3,500-seat arena “Roadrunner” in a nod the band’s 1970s shoutout to the local environs.

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Lynn Postal Worker Stole from Eastern Bank Accounts

May 13, 2021 | Reprints

A Lynn postal worker pleaded guilty this week to stealing residents’ mail and making more than $16,000 in debit card purchases and ATM withdrawals from the accounts of three Eastern Bank customers on her route.

Berkshire Bank Joins Bank On Initiative

By Diane McLaughlin | Banker & Tradesman Staff | May 13, 2021 | Reprints | Unlock Link

Berkshire Bank has joined the national Bank On initiative to reach unbanked and underbanked consumers by offering a checking account with no overdraft charges or monthly maintenance fees.

BioMed Buys South End Offices and Labs for $314M

By Steve Adams | Banker & Tradesman Staff | May 12, 2021 | Reprints | Unlock Link

BioMed Realty has completed its acquisition of a South End office building and lab development site for $314 million, with the Boston Planning and Development Agency scheduled to vote Thursday on the lab conversion.

MBTA Ridership Crept Upward in March, April

By State House News Service | May 12, 2021 | Reprints | Unlock Link

MBTA ridership saw “significant rising action” in March and April, though overall it remains at only a fraction of pre-pandemic levels, according to T General Manager Steve Poftak.

Coolidge Corner Apartments Sold for $24M

May 12, 2021 | Reprints | Unlock Link

A 25-unit apartment complex at Brookline’s Coolidge Corner has been acquired for $23.9 million by a Billerica-based investor following a marketing process that attracted close to 40 offers.

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Weighted Assets

Avidia Shows How Relationship Between Banks and Fintechs May Shift

Hudson-based Avidia Bank made a bold move last month, becoming the first community bank in the country to join The Clearing House’s real-time payments network and in the process showing how the relationship between fintechs and banks may soon start to shift.

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Who’s the Developer Behind One Mystic?

After eye-catching plans were released for the 29-story “One Mystic” apartment tower in Charlestown, questions remained about the little-known firm behind the project.

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How to Win a Bidding War

A recent column about would-be homebuyers giving up because they keep losing bidding wars brought a flurry of responses: Readers want to know how they can become winners in this arena.

Commercial Interests

Biden Needs to Put the Screws to the Suburbs

The Biden Administration has proposed spending a stunning $213 billion to tackle our nation’s growing affordable housing crisis. But in the end, all that extra cash sloshing around will fuel bidding wars for an artificially limited number of urban sites.