Commercial Interests
A Banker & Tradesman Blog
To Get Transfer Taxes Passed, Try Compromising
It likely feels like “Groundhog Day” for the coalition seeking a transfer tax on higher-end sales after running into a brick wall in the House of Representatives.
Boston Building Permits Tick Up In 2024
The numbers for the state’s capital and economic engine, while still far from robust, are also improving. Still, it’s worth asking why the housing numbers in Boston are stuck at very low levels.
A Tale of Two Casinos
Why did Wynn’s seeming long shot bet on an Everett casino pay off big-time while MGM’s grand hopes to turn Springfield into a casino resort mecca ingloriously fizzled?
Housing Slump Deserves a Deeper Look
With all due respect a bunch of academics, however distinguished, need to hear from developers in the trenches to get to the bottom of why Boston’s suffering a plunge in housing starts.
Boston’s Luxury Condo Market Still Cold
Red hot for years, has the Boston luxury condo market finally lost its sizzle? It looks like it – and developers’ ability to offer cash back at closing could be keeping prices from coming down.
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.
Don’t Let NIMBYs Kill Green Power
NIMBY local pols and naysayers wrecked the housing market in Massachusetts. Now, they’re threatening to do the same thing with the state’s new clean energy industry unless Beacon Hill can stop them.
Boston Mayor Shocks Real Estate with Office Tax Rate Hike
The scale of Mayor Michelle Wu’s planned massive hike to tax rates on office, lab and retail buildings comes at a terrible time. And she seems to be ignoring an important alternative strategy.
Stop. You’re Making It Worse
Recent hoopla about soft landings aside, the Federal Reserve’s drive to bring down prices has made immeasurably worse what was already the most expensive item in Americans’ budgets: the cost of housing.
To Get Real Housing Production, Let’s Break Out the Carrots
It’s become increasingly clear that the MBTA Communities housing law is no silver bullet. So why not make new housing a profit center for towns and suburbs, rather than a perceived drag?
It’s Two Steps Forward, One Step Back in Fixing Our Biggest Problems
The last week shows progress is likely to be two steps forward and one step back given decades of neglected maintenance at the T and the NIMBY backlash to the Healey administration’s housing plans.
Be Careful What You Wish For, Madam Mayor
Don’t like the Boston Planning & Development Agency? Think it’s too close to developers and business interests and should be abolished? Just amp up the fractious Boston City Council’s influence on what gets built.
Goodbye to Downtown Skyscraper-Building
When the South Station tower opens next year, it will be one of the largest office projects ever built in the city. It may very well be one of the last as well.
Fed’s Refusal to Cut Rates Drags Down Housing Market
When it comes to describing what’s happening right now in the real estate market, you can take your pick, but downturn, recession or even depression all seem like good fits right now. You just wouldn’t know it from reading the business press.
The Next Banking Panic?
Nearly a year after SVB’s failure, a potentially bigger banking crisis is looming, this time centered on the troubled world of commercial real estate loans made on what are now half-empty downtown office towers across the country.
Less Development Made Newton’s Teacher Strike Worse
As Newton’s teacher strike drags on, it’s worth asking: Doesn’t Newton’s historical development skepticism play a role in the city’s current political and financial predicament?
Prison Closures Offer Great Opportunities for More Housing
Gov. Maura Healey has promised to “go big” on housing as he pushes a multibillion-dollar spending plan. But three big pieces of disused or soon-to-be-disused state property show she’s got more work to do in that regard.
Liberal Cambridge Takes a Pass on Rent Control
Is it time to put aside the old schtick about the “People’s Republic” of Cambridge? The city has been an outlier among its inner-core peers in not pursuing rent control last year. The reasons for that are rooted in history.
Is a Boston Housing Tax Break Really Just a ‘Work in Progress’?
Wu’s decision not to move forward at this time disappointed housing developers with projects stalled on the drawing boards, but industry circles aren’t losing hope just yet.
Is Something Frightening Hiding in REIT’s Retrenchment?
Moves by the California-based Alexandria Real Estate Equities to dump a significant slice of its Boston-area life science real estate portfolio speak volumes about the state of the local lab market, none of it good.
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