Boston Fed President Begins Tenure
Susan M. Collins began her tenure on Friday as the Federal Reserve Bank of Boston’s new president and CEO.
Multifamily Projects Return to Framingham After Moratorium
The first large apartment complex has been proposed in Framingham since the city’s 15-month multifamily development moratorium expired.
Envision Bank Shareholders Approve Merger With Hometown
Hometown Financial Group’s acquisition of Quincy-based Envision Bank moved a step forward last week after shareholders of Envision Bank’s parent company approved the deal.
Add Rent to Rising Costs Bedeviling Small Businesses
Landlords were lenient about rent payments during the first two years of the pandemic. Now, many are asking for back rent, and some are raising the current rent as well.
Baker Tax Relief Bill Clears Committee Mostly Intact
The Massachusetts legislature’s Revenue Committee advanced a $600 million tax relief package on Friday, but the panel’s House chairman said the measure remains a work in progress.
Mass. Employers Teeter On Edge of Pessimism
Recession and inflation concerns conspired in June to leave Massachusetts employers on the verge of switching to a pessimistic posture.
Personnel File – No. 293
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Geneva Financial Expands in Massachusetts
Arizona-based mortgage lender Geneva Financial has opened a new office in Rockland, with Patrick Queally as the branch manager.
MassDOT Opposes Highway Connection from South End Lab Project
Boston-based Abbey Group is expected to redesign its 1.6-million-square-foot Exchange South End life science development in Boston amid talks with transportation officials about a disputed connector to Frontage Road.
Key Inflation Gauge Tracked by The Fed Remains a High 6.3 Percent
A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3 percent in May from a year earlier, unchanged from its level in April.
Powell: ‘No Guarantee’ Fed Can Tame Inflation, Spare Jobs
Federal Reserve Chair Jerome Powell said there’s “no guarantee″ that the central bank can tame runaway inflation without hurting the job market.
Community Good Works
Brockton-based HarborOne Bank announced the winners of the inaugural HarborOne Cause Pitch Contest held at Big Night Live in Boston. HarborOne Bank and The Greg Hill Foundation both made $25,000 donations for a total of $50,000 in awards.
MCBC: Black Borrowers Denied Mortgages at Higher Rates
Black borrowers with down payments of 20 percent or more were denied home mortgages in Massachusetts at higher rates than other borrowers in 2020, according to a new report from the Massachusetts Community & Banking Council.
Lab Project Touted as Stimulus for Fort Point Retailers
The owner of a vacant South Boston office building says a proposed life science project would revitalize the Fort Point neighborhood’s retail scene by bringing 400 employees to the property regularly for in-person work.
Second-Home Demand Plummets as Cape Listings Hit New Lows
The number of homebuyers seeking mortgages for second homes has taken a nosedive this year, even as the inventories of single-family homes and condominiums for sale on Cape Cod hit never-before-seen lows last month.
US Consumer Confidence Slumps to Lowest Level in 16 Months
U.S. consumer confidence slipped to its lowest level in 16 months as persistent inflation and rising interest rates have Americans as pessimistic as they’ve been about the future in almost a decade.
‘Green’ Building Code Changes Emerge For Summer Debate
Having made what it said are “targeted changes” based on extensive public comment, the Department of Energy Resources has released draft language for state building code changes that it hopes will encourage builders to shift away from fossil fuel heating in favor of electrification.
Northmark Bank Had Considered Merging Last Year
Months before agreeing to merge with Cambridge Trust Co., Northmark Bank had considered merging into a different bank, and the two institutions had agreed to work exclusively on a potential deal.
O’Connell to Retire from Avidia Bank Next Year
Mark O’Connell, the long-time leader of Hudson-based Avidia Bank, plans to retire next year after 35 years at the bank.
Commercial Space to Be Built First at L Street Station
The first new building at the L Street Station development is designed with a nod to the marine cargo industry that maintains a presence at Massport’s nearby Conley Container Terminal.
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