BU Reveals New Face for Warren Towers
Boston University is preparing to update the city’s largest dorm complex which houses 1,800 undergraduates.
Analysis of Healey Housing Bill Called ‘Half-Baked’
A report commissioned by the Healey administration estimates the governor’s $4.1 billion housing bond bill will produce tens of thousands of new homes and generate $24.8 billion in economic activity, roughly 30,000 jobs, and $750 million in state tax revenue over five years.
Rollstone Bank & Trust Appoints New COO
Rollstone Bank & Trust has appointed a new chief operating officer and promoted five other employees in the bank.
Keller Williams Settles Commission Lawsuits for $70M
The deal in the two lawsuits, known as “Sitzer/Burnett” and “Batton 2” after their plaintiffs, also calls on Keller Williams to take several steps aimed at providing homebuyers and sellers with more transparency over the commissions paid to real estate agents.
Brookline Bancorp Exec Sees Opportunity Large Banks’ Lending Pullback
Brookline Bank has grown its loans by 26 percent from the fourth quarter of 2022 to the fourth quarter of 2023 and is looking to grow its loan portfolio more this year as large banks pull back their lending in New England markets.
Brokerage Cries Foul on St. Regis Condo Deals
A residential brokerage claims the developer of the St. Regis Residences Boston owes over $1 million in unpaid commissions from sales that it brokered before being replaced in 2022.
Taunton Mall Redeveloper Gets Spec Construction Loan
The developer that acquired the shuttered Silver City Gallery mall in Taunton will begin the first phase of a 147-acre business park after obtaining financing from BMO Harris Bank.
Powell: Fed On Track to Cut Rates, Though Not for Months
Investors and some economists had been holding out the possibility that the Fed might cut as early as its next meeting in March. That now appears off the table.
Enterprise Bank Q4 Profits Down on Higher Deposit Costs
Lowell-based Enterprise Bank saw net income in the fourth quarter decrease to $7.9 million from $9.7 million in the third quarter as the cost of high-interest deposits– primarily in its money market and certificates of deposit products – offset the gains from yields in assets.
BXP Switches to Offense in 2024
Boston Properties CEO Owen Thomas said the office REIT sees “significant opportunities” for acquisitions and development in 2024 as the office sector falls out of favor among institutional investors and values drop.
Mortgage Company Drags Down HarborOne Bank’s Q4 Profit
HarborOne Bank recorded a net loss in the fourth quarter of the year as a challenging mortgage market forced it to record a goodwill impairment charge at its mortgage company subsidiary.
Alexandria Sees Rebound in Lab Space Demand
Greater Boston’s largest lab landlord said vacancies in its local portfolio topped 7 percent in the fourth quarter, but a revival in life science industry expansion plans points to growth in 2024.
Wu Administration ‘Optimistic’ About New Faneuil Hall Marketplace Operator
The head of the BPDA said the city had been pressuring the operator of the Faneiul Hall Marketplace to invest money in the historic landmark or face legal consequences before the asset’s sale was announced.
Gibson Sotheby’s Expands Again with Acquisition
Fresh off its acquisition of a Provincetown brokerage earlier this month, Boston residential real estate brokerage Gibson Sotheby’s International Realty announced it has bought Unlimited Sotheby’s International Realty.
National Survey Finds Bank Execs Worried About CFPB Small Biz Data Rule
Sixteen percent said in a new survey that they may lower small business lending due to anticipated higher costs from the rule.
Exclusionary Housing Policies Revealed in Housing Database
The most comprehensive database of Massachusetts’ affordable housing inventory spotlights the use of age-restricted housing to maintain racial segregation, its creators say.
Lower Costs Improve Q4 Profits for Cambridge Trust
Cambridge Trust recorded a $2.7 million decline in non-interest, non-recurring expenses which resulted in a higher net income in the fourth quarter.
Augustus, Driscoll Tapped to Chart More Housing Reforms
Gov. Maura Healey is still waiting for the legislature to act on her big housing bill, but she paused Monday to swear in two panels of developers, municipal leaders and advocates Monday, charged with charting more housing production reforms.
Alinea Capital Completes Financing for Downtown New Bedford Project
Boston-based Alinea Capital Partners will develop 52 affordable apartments at a former Registry of Motor Vehicles property in downtown New Bedford after closing on $16.4 million in financing.
Wu Files Ordinance to Replace BPDA with Planning Department
Boston Mayor Michelle Wu took another step forward in her plan to bring the city’s planning and development arm more firmly under the control of elected officials.
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