Commercial Real Estate News
Developer Seeks Condo Switch for Downtown Tower
Developers of a 21-story tower are casting a vote of confidence in Boston’s condo market as they seek a switch to 148 for-sale units at their LaGrange Street project.
Raffles Bets on Rebound in Downtown Luxury Condo Market
After a broad-based dip in Boston’s luxury condo market in 2020, developers of the Raffles Boston Back Bay Hotel & Residences have a brighter post-pandemic outlook for sales of 146 condos at their 35-story tower.
Peabody Properties Settles Fair Housing Allegations
A Braintree-based property management company has settled allegations that it violated state fair housing laws and discriminated against deaf apartment applicants.
Acting Mayor Janey: ‘Today Is A New Day’
Acting Mayor Kim Janey arrived at Boston City Hall on Tuesday morning for her first full day as the city’s executive, in what former Mayor Marty Walsh called a “smooth transition” between administrations.
Majority of Boston Office Deals Now Subleases
After a year of disruption to office occupancy, tenants have more leverage to negotiate deals with landlords in Boston and other cities with gluts of sublease space.
MBTA Agrees to Fund Pre-Pandemic Service Levels
The T now plans to include enough funding in its next annual budget to run buses and trains on the same full schedule that was in place before the pandemic.
Janey Becomes First Woman, Person of Color to Be Boston Mayor
Boston has a new mayor in Kim Janey, who became the city’s first female and first person of color to take the office Monday.
Hotel Lenders Skeptical About New Development
Hotel industry debt markets are starting to recover from COVID-19 shocks but lenders remain skeptical about construction loans until there’s more clarity about post-pandemic travel activity, according to a brokerage report.
Cambridge Polymer to Relocate to Woburn
Contract researcher Cambridge Polymer Group will open a new headquarters in Woburn this summer after leasing 17,000 square feet at the TradeCenter 128 campus.
Boston Takes Modified Approach to Reopening
As most of Massachusetts shifts into Phase 4 of the state’s reopening plan today, Boston will adopt a modified version with lower caps on most indoor and outdoor events, Mayor Martin Walsh announced Friday.
Devens in Demand
A surge of developments and business expansions – ranging from clean energy to biomanufacturing and life science research – at the state-run Devens business park are shattering the narrative of stagnant commercial real estate prospects outside Interstate 495.
Signs Not Good for Coworking Revival
CBRE is plunking down $200 million for just over a third of Industrious, while Newmark taking over bankrupt Knotel in a $20 million debtor-in-possession deal. Are they truly on to something?
Transitioning from Multifamily Investment to Development
Boston Capital Development is shifting from acquisitions to a multifamily development strategy, including a high-profile project that could bring hundreds of apartments, and Rich Mazzocchi is in the driver’s seat of the transition.
Transit Cuts Threaten Housing Production
If they’re not careful, Gov. Charlie Baker and his hand-picked MBTA general manager could undermine the biggest effort to grow housing production this state has seen in decades.
Hot Property: The Hempest
Andover-based McSweeney Construction and Development Corp. has completed a renovation and expansion of The Hempest in Northampton, which began offering adult-use cannabis sales in February.
Housing Choice Passed, but Unfinished Business Remains
The spirit of the law is clear: Allow apartments for families near transit. But important details need to be sorted out by the Baker administration that will require flexibility and a watchful eye to prevent poison pills.
Google Touts Cambridge Expansion in 10K Job Growth Plan
Google CEO Sundar Pichai says his company will add 10,000 new staffers this year and invest $7 billion in new offices and data centers, including its under-construction regional headquarters in Cambridge’s Kendall Square.
Minority Officers’ Group Plans Compact Housing, Event Space
A nonprofit organization that represents minority law enforcement officers plans to redevelop its Mattapan headquarters into a mixed-use development including a function hall and 45 compact living studio units. The Massachusetts Association of Minority Law Enforcement...
Top CBRE Executive to Leave for Beacon Capital
A top broker for CBRE is moving over to the development side as president of Beacon Capital Partners’ life science platform.
Baker ‘Pleased’ With Revised Climate Bill Despite CRE Industry Fears
Gov. Charlie Baker and his administration are happy with the changes the legislature made to the climate policy bill that’s been the subject of negotiations and debate – both public and private – for months, but his top environmental official stopped short of saying Baker will sign the bill into law.
This Week’s Newspaper
