In this issue of Banker & Tradesman, we have selected 13 people who have done amazing work in the world of community banking.
In choosing the winners of the annual Community Bank Heroes awards, the Banker & Tradesman editorial board sought community bankers who stood out from their peers. It was not an easy task, and we couldn’t be more delighted at how hard the selection process was.
We received dozens of entries from across the commonwealth and from all types of institutions –private banks, mutuals, stock banks and thrifts. The people who were nominated came from all types of backgrounds, men and women who have clearly made a difference in their companies and in their communities. They were not only CEOs, but also lending officers and branch managers and other executives.
We were also gratified to know that those who were picked have dedicated themselves to helping others. For instance, one of our winners has conducted financial literacy classes for inmates at Suffolk County’s House of Corrections. Another winner volunteers with the Pine Street Inn, Boston Food Bank and Goodwill Industries.
Later this week, Banker & Tradesman will be hosting an awards ceremony to celebrate these 13 people who have set the bar higher than ever in the industry.
We look forward to congratulating them for their hard work.
A Comeback
The project is gargantuan, costing $500 million and rejuvenating a previously barren series of parcels in a neighborhood bordering Fenway Park.
John Rosenthal’s Fenway Center plan is not only a big deal for the neighborhood, it’s a big deal for development in the Greater Boston area. Rosenthal’s plan to bring 550 apartments, retail and office space and two parking garages near Kenmore Square between Brookline Avenue and Beacon Street is one of the last pieces to cap off the renaissance of the area around Fenway Park.
Rosenthal, for all intents and purposes, got a good deal. He will pay $226 million in rent for 99 years to lease the state-owned land and air space above the Massachusetts Turnpike. In return, Boston will get $5 million in property taxes each year.
At some point after the first phase of the project is complete, Rosenthal will then build a 27-story tower with offices, residences and retail space above the Pike.
All of this bodes well for an industry that was hit hard by the recession. Home prices are up, consumers are willing to spend and all of the sudden plans for office and retail buildings are sprouting. Over in Somerville, officials broke ground on one of the Greater Boston area’s first speculative office buildings – a feat we have rarely seen.
In Cambridge, officials celebrated the groundbreaking of a long-stalled retail complex on the site of the former Fresh Pond Seafood. The project was delayed because of the sagging economy. At least two tenants have already been recruited and others are being discussed.
All in all, the economy is slowly coming back and the results are literally starting to appear in front of our eyes.
