Industry News
Unlocking Homeownership: Webster First FCU’s Guide to Mortgage Solutions
The process of buying a house may seem foreign to someone who is doing it for the first time. Without knowing all the mortgage lingo or documents, it can feel scary signing your name to something. That’s why Webster First has tried to break down the process in a simple way that first time buyers can understand.
Survey: RE Agents Open to Changing Affiliations
The latest report from Coldwell Banker found that 67 percent of real estate agents plan on staying with their current company this year, a significant drop from the 75 percent who said the same last year.
US Employers Scaled Back Hiring in April; That Could Let the Fed Cut Interest Rates
The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market.
Broker Sought to Market $70M Development in Bankruptcy Case
A trustee asked a federal bankruptcy court to appoint brokerage Cushman & Wakefield to market an approved Readville multifamily development that’s been stalled since 2020.
Harvard Square Tenants Get Temporary Reprieve
Tenants at The Garage in Harvard Square are getting a reprieve because of the headwinds in commercial real estate development.
Community Good Works
The Bay State’s banks are back at it, donating thousands of dollars to community nonprofits.
Related Beal Closes on Financing for Vertex Lab Project
A development group led by Related Beal completed its financing for development of a Vertex Pharmaceutical-leased research center that’s ramping up construction in South Boston’s Raymond L. Flynn Marine Park.
Federal Reserve Declines to Cut Interest Rates, Cites Continued Inflation
As expected, the Federal Reserve did not reduce the benchmark lending rate at its meeting yesterday, maintaining the rate at a 23-year high.
Boylston Street Property Trades for $39.1M
A Back Bay office-retail building anchored by an investor center for Fidelity Investments was acquired by a Spanish real estate investment firm for a 27-percent discount from its previous sale in 2013.
Guv Appeals to Biz to Join Housing Fight
As more communities in eastern Massachusetts show a willingness to defy the state’s new multifamily zoning law, Gov. Maura Healey on Tuesday tried to draft business executives into her efforts to shore up support for measures meant to spur badly-needed housing production.
Berkshire Bank to Close 3 CT Branches
Boston-based Berkshire Bank has filed a notice with the Connecticut Department of Banking to close three of its branches in the Nutmeg State.
Funding Secured for Multifamily Development in Wakefield
JLL Capital Markets has arranged capitalization for a new, 440-unit development to be built on the shore of Lake Quannapowitt in Wakefield.
Powell Likely to Signal Lower Inflation Is Needed Before Fed Will Cut Rates
After three straight hotter-than-expected inflation reports, Federal Reserve officials have turned more cautious about the prospect of interest rate cuts this year.
Wakefield Turns Down MBTA Communities Zoning
Wakefield joined Marshfield and Milton in the suburban resistance to the MBTA Communities housing production law, rejecting three proposals to rezone an area near transit for multifamily development.
BXP Breaks Ground on Cambridge’s Tallest Building
Boston Properties has started construction of the tallest building in Cambridge history, the 121 Broadway residential tower slated for completion in 2027.
Reclassification of Marijuana Could Build Momentum for Cannabis Banking Reform
The U.S. Drug Enforcement Administration will move to reclassify marijuana as a less dangerous drug, a historic shift to generations of American drug policy that could have wide ripple effects across the country.
Court Rulings May Force Action On Home Equity Theft
After a state judge ruled this month that Massachusetts law governing municipal home equity takings “requires Legislative correction,” a state senator who has filed a related bill for years said Monday that he was ready to start demanding roll call votes on his proposal.
Rockport Residents File Civil Rights Suit Over MBTA Zoning
A group of Rockport residents claim that the way their town is coming up with zoning to comply with the state MBTA Communities law is violating their civil rights.
Posto Relocating to Assembly Row
A mainstay of Davis Square’s dining scene is relocating to Assembly Row after leasing 6,000 square feet for a takeout market, cafe and dining room.
AI Biotech Researchers Relocate to Cambridge
A biotech company that’s received over $400 million from investors for its artificial intelligence-based research opens a new headquarters in Cambridge this week in a relocation from New York City.
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