Healey Scraps $1B Boston Lab Project, Pivots to Housing
The Healey administration abandoned plans for life science towers at a state-owned Brutalist landmark in Boston’s West End and pivoted to a new development plan prioritizing housing production.
Boston Suburbs Drawing More Office Tenants as Downtown Wanes
Declining rents and shorter employee commutes are prompting eastern Massachusetts companies to favor suburban office deals, according to local brokerage research.
North Shore Bank Finances Roslindale Development
Boston-based N6 Properties is beginning its first ground-up construction project after receiving financing from North Shore Bank for a Roslindale development.
Davis Raises $1B for Largest Real Estate Fund
Lifting a page from its strategy during the global financial crisis in 2009, The Davis Companies has raised nearly $1 billion to invest in real estate including distressed assets.
Cruz Cos. Sells Housing Complex for $22.5M
Cruz Cos. sold its Taurus at Fountain Hill property in Roxbury in a transaction that will extend affordability restrictions on the 73 apartments.
$20M St. Regis Condo Sale Sets Seaport Record
The $20.3 million sale of a double condominium at the St. Regis Residences, Boston this week sets a new high water mark for residential real estate in the Seaport District.
State Agencies Relocating to One Federal
Six state agencies are taking advantage of the Boston office market downturn to upgrade to a new location at One Federal St., where they will occupy 106,000 square feet.
Theater District Apartments Rebranded After $212M Sale
A luxury high-rise in Boston’s Theater District developed by AvalonBay Communities sold to a San Francisco investor for $212 million and has been rebranded as “Luka on the Common.”
Report Seeks Funding for Central Massachusetts Biomanufacturing
Following the recent pause of a high-profile biomanufacturing project in Worcester, a central Massachusetts incubator laid out a growth strategy for the industry cluster.
Councilor Says Article 80 Changes Could Tie City’s Hands
The biggest proposed changes in Boston’s development reviews since 1996 attracted pointed questions from city councilors including whether they would safeguard neighborhoods from undesirable projects.
Converse Extends Lease for Boston HQ
Converse signed a long-term lease extension for its Lovejoy Wharf headquarters with a German real estate investor that has owned the property since 2016.
Boston-Area Lab Leasing Hits Post-Pandemic Low
Lab leasing in Greater Boston declined to the lowest level since the pandemic as life science companies shied away from real estate commitments in a frugal funding climate.
3D Simulations Firm Relocates to Financial District
A German company that provides 3D visualization tools is consolidating and expanding its office space with a relocation to 2 Oliver St. in downtown Boston.
Engineering Firm Leases Regional HQ in Westborough
Bohler Engineering will open a new regional headquarters at 50 Washington St. in Westborough after leasing 20,000 square feet at a property owned by Carruth Capital.
Fan Pier Residential Tower Gets $215M Construction Loan
The Fallon Co. received a $215 million construction loan for a luxury residential tower at Boston’s Fan Pier, ending a lull in planned high-end housing projects in the urban core.
Rhino Capital Breaks Ground on Taunton Development
Boston-based developer Rhino Capital is seeking tenants for a new 285,000-square-foot development beginning construction in Taunton’s Myles Standish Industrial Park.
LMP Hits Pause on Somerville Lab Project
A third major Somerville lab development is hitting the brakes amid the growing glut of life science space in the city.
Government Center Garage Contractor Sues Developer
In the latest financial fallout from the 2022 Government Center garage collapse, a Brockton contractor is seeking $8.8 million from the Bulfinch Crossing’s project’s developers.
Suffolk Files $10M Suit Over Delayed South End Development
Suffolk Construction is seeking millions in damages from developers of The Smith No. 99, a South End luxury apartment tower that opened in May following a series of delays.
Fidelity Fund Buys Lowe’s-Anchored Property in Weymouth
A Fidelity Investments fund paid $23 million to acquire a 250,000-square-foot Weymouth retail property anchored by Lowe’s Home Improvement Warehouse.
This Week’s Newspaper
