Boston Launches New Ferry to Flynn Marine Park
Commuters on the MBTA’s regional rail system just got an option to add a little more fluidity to their commute. And Seaport landlords just got a new amenity to promote to potential tenants.
Owner Ready to Sell Troubled Revere High-Rises
The longtime owner of a troubled Revere apartment complex is preparing to sell the property outright, potentially opening a new chapter for the waterfront high-rises after years of battles with city officials.
Craft Food Halls Reopens in Allston
Craft Food Halls has reopened at the Studio Allston hotel on Soldiers Field Road with a promotional “sip and stay” package for hotel guests.
Hines Pays $73M for Davis Companies’ Suburban Property
A Wilmington industrial park was acquired by Hines, the Houston-based real estate developer, for nearly $73 million following a speculative expansion project during The Davis Companies’ 4-year ownership period.
Mill Creek Submits 350-Unit Housing Development in Medford
Multifamily developer Mill Creek Residential is seeking to expand its portfolio in the Wellington Circle area by replacing a vacant commercial property with a 350-unit apartment complex.
Owner of Condemned Revere High-Rises Files for Bankruptcy
The owner of three Revere Beach apartment towers filed for bankruptcy protection, staving off a foreclosure auction on the properties including the troubled 364 Ocean Ave. building that was condemned in August.
Once Planned for Biomanufacturing Campus, Andover Facility Sells for $67M
Alexandria bought the huge facility in early 2022 as part of a $341 million, eight-property deal to take advantage of drugmaking demand that never materialized.
State Backs $500M ‘Everett Docklands’ Energy Storage Project
The $500 million energy storage project proposed in the first phase of The Davis Cos. redevelopment of Everett’s former Exxon Mobil fuel tank farm received a key state approval.
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.
Chelmsford ‘Making as Many Barriers’ as Possible to MBTA Zoning
Responding to the MBTA Communities law requiring suburbs to loosen restrictions on multifamily development, the Chelmsford Planning Board adopted a strategy specifically to minimize additional housing development.
Moratorium Forces Delay of Alewife Lab Project
The city of Cambridge’s moratorium on office and lab development in the Alewife Quadrangle is starting to affect the existing development pipeline, as The Davis Cos. withdrew a proposed 280,000-square-foot life science project at 40 Smith Place.
New Wilmington Development Gets $39.1M in Financing
A 214,440-square-foot Wilmington industrial development that broke ground in late winter received $39.1 million in construction financing.
Allston Development Proposal Returns With Less Housing
A major Allston development proposal that’s been on the back burner since last fall is being redesigned with a 141,000-square-foot reduction in size and 130 fewer housing units.
Davis Cos. Proposes 289-Unit Development in Medford
A 19th-century ornamental brick factory-turned-self-storage facility near Medford’s Wellington Circle is proposed for redevelopment as a 289-unit apartment and condo complex.
Biotech Company Leases Space in Alewife Research Center
The Davis Companies has leased 26,989 square feet of space in their Alewife Research Center in Cambridge to Ribon Therapeutics Inc., a biotech company that will relocate from Lexington.
Personnel File
In this week’s roundup, banks, commercial real estate firms and insurance companies are welcoming new hires and promoting internally.
