Commercial & Industrial
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.
‘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
A Chelsea affordable housing development is securing site control thanks to Eastern Bank and MassDevelopment.
Wu Begins Talks With Lawmakers on Tax Bill
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.
Developer Seeks Two-Year Delay for Somerville Lab Tower
The developer of a 19-story lab tower in Somerville’s Assembly Square is seeking an extension to redesign the project following a change of ownership and continuing sluggishness in life science leasing.
Crews Battle Blaze at Downtown Tower Building Site
A blazing pile of materials outside Hines’ under-construction South Station Tower set off a large response from the Boston Fire Department Tuesday morning.
Capital Group Properties Plans Leominster Development
Southborough-based Capital Group Properties plans to develop a 67,500-square-foot industrial building for completion in early 2025 after acquiring a Leominster parcel.
BXP and MassDOT Sign Deal for Back Bay Tower Development
A deal with the Massachusetts Department of Transportation moved the 1.3 million-square-foot redevelopment of the MBTA’s Back Bay station property closer to groundbreaking.
Dana-Farber Eyes Lab Expansion in Fenway and LMA
Dana-Farber Cancer Institute will expand its lab and research space in Boston’s Longwood Medical Area and the Fenway while its office space shrinks under a permanent remote and hybrid workforce model.
Another Option for Vacant Office Buildings
New hotel construction has slowed to a crawl in Boston since COVID but a new source of room supply is emerging in conversions spurred by the city’s struggling office market.
What Has Zoning Reform Accomplished in Cambridge?
The city sought to remove barriers to affordable housing construction by cutting permitting times and costs. And while funding shortfalls will hurt its full potential, it already appears to be working.
Pursuing a Balance of Perspectives in Boston Development
Rather than viewing development as a zero-sum game, in which every win represents someone else’s loss, the conversation needs to shift to collaboration.
Don’t Let NIMBYs Kill Green Power
NIMBY local pols and naysayers wrecked the housing market in Massachusetts. Now, they’re threatening to do the same thing with the state’s new clean energy industry unless Beacon Hill can stop them.
Hot Property: All-Electric Wilmington Warehouse
A partnership between Camber Development and Wheelock Street Capital has begun construction of a 238,000-square-foot warehouse and distribution facility in Wilmington.
R&D Could Throw Lifeline to Sinking Suburban Office Sector
Conversions to R&D space could be the best option for suburban Boston office landlords facing a financial crossroads, real estate executives predicted at an economic forum focusing on the Metro North region.
Boston Awards 37 Grants for Retail Startups
A group of 37 local entrepreneurs will receive nearly $4.6 million in grants from the city of Boston to help establish new retail businesses.
Boston Multifamily Operators Battling Rising Insurance Costs
Multifamily operators are seeing their properties’ running costs continuing to grow, albeit at a slower rate than in years past according to a new report from real estate data firm Yardi Matrix.
Local Leaders Fret Over Accessory Units, Local Control
The Massachusetts Municipal Association supports Gov. Maura Healey’s policy-heavy, $4 billion housing bond bill, but there are pockets of concern among local leaders as the state deploys other carrots and sticks to generate more construction.
Quincy Apartments Trade for $25.4M
A Quincy apartment complex developed in 2018 was acquired by a Brookline investor this week for $25.45 million.
Wu Inks Planning Oversight Reform
Marking the creation of a new planning department that is independent from development approvals, Mayor Michelle Wu chose a backdrop that signified a potential end to heavy-handed government powers to shape Boston’s neighborhoods.
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