April 15, 2024
Apr 14, 2024 | Reprints | Unlock Link 
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Hot Property: Boston Scientific Innovation Center
By Steve Adams | Banker & Tradesman Staff | Apr 14, 2024 | Reprints | Unlock Link
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.
Door Opens to Flip a House for Yourself, Not Profit
High mortgage rates, soaring house prices and rising construction costs have driven many flippers out of the market. And with their exit comes a great opportunity for people eager to buy a fixer-upper of their own.
In Speech, Wu Defends Downtown Strategies, Tax Rate Plan
By James Sanna | Banker & Tradesman Staff | Apr 12, 2024 | Reprints | Unlock Link
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?
By Steve Adams | Banker & Tradesman Staff | Apr 12, 2024 | Reprints | Unlock Link
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.
The B&T Daily: April 12, 2024
By Cassidy Norton | Banker & Tradesman Staff | Apr 12, 2024 | Reprints | Unlock Link
A Fenway commercial property added a major new tenant in Berklee School of Music. But what does it have in store for the property? Berklee leased nearly 39,000 square feet at 1249-1255 Boylston St., a 3-story office-retail building, through 2040. The school has a history of friction with neighborhood groups and city officials over its
Related Beal Picked to Develop Roxbury, Marine Park Projects
By Steve Adams | Banker & Tradesman Staff | Apr 12, 2024 | Reprints | Unlock Link
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
By Ken Sweet | The Associated Press | Apr 12, 2024 | Reprints | Unlock Link
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
By Chris Lisinski | State House News Service | Apr 12, 2024 | Reprints | Unlock Link
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
By Steve Adams | Banker & Tradesman Staff | Apr 11, 2024 | Reprints | Unlock Link
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.
The B&T Daily: April 11, 2024
By Cassidy Norton | Banker & Tradesman Staff | Apr 11, 2024 | Reprints | Unlock Link
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. New York-based investment firm Certares, in partnership with Belcourt Capital Partners, bought the 390-room hotel at 40 Dalton St. and a 209-space parking garage this week. What else is on tap
Back Bay Hilton Sold for $171M
By Steve Adams | Banker & Tradesman Staff | Apr 11, 2024 | Reprints | Unlock Link
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
By Chris Lisinski | State House News Service | Apr 11, 2024 | Reprints | Unlock Link
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.
The B&T Daily: April 10, 2024
By Cassidy Norton | Banker & Tradesman Staff | Apr 10, 2024 | Reprints | Unlock Link
A BPDA-approved plan endorsed the idea of higher zoned building heights in downtown Boston last year. But now developers have an idea of the specifics Mayor Michelle Wu is proposing. The administration took the wraps off a major rezoning proposal for downtown Boston at a virtual community meeting last night, with an expansive “Skyline” district at its center where
‘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
By James Sanna | Banker & Tradesman Staff | Apr 10, 2024 | Reprints | Unlock Link
A Chelsea affordable housing development is securing site control thanks to Eastern Bank and MassDevelopment.
March Inflation Reading Means ‘Bad News’ for Mortgage Rates
By Christopher Rugaber | The Associated Press | Apr 10, 2024 | Reprints | Unlock Link
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
By James Sanna | Banker & Tradesman Staff | Apr 10, 2024 | Reprints | Unlock Link
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
By Sam Drysdale | State House News Service | Apr 10, 2024 | Reprints | Unlock Link
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.
