| A BPDA-approved plan endorsed the idea of higher zoned building heights in downtown Boston last year. But now developers have an idea of the specifics Mayor Michelle Wu is proposing.
The administration took the wraps off a major rezoning proposal for downtown Boston at a virtual community meeting last night, with an expansive “Skyline” district at its center where building heights will only be capped by FAA restrictions, or 700 feet, and the Boston Common shadow law.
The rezoning is a core part of Wu’s efforts to encourage more investment and development downtown after three years of rising office vacancies.
What else is on tap today?
- Lamacchia Buys NAR President’s Brokerage: The state’s largest independent residential real estate brokerage now owns Kevin Sears’ home base.
- Inflation Readings ‘Bad News’: Between likely impacts on Federal Reserve decision-making and Wall Street’s reactions, mortgage interest rates could top 7 percent again, NAR’s Lawrence Yun warns.
- Wu Starts Tax Talks: 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, but it needs state legislators’ OK.
- Eastern Bank Funds Project: A Chelsea affordable housing development is securing site control thanks to Eastern Bank and MassDevelopment.
Show me the data!
These are the top 10 existing, recent single-family home sales in Bristol County.
What did I miss?
Here’s what you might have missed in Sunday’s newsletter. Not a B&T subscriber? Fix that here.
- NIMBY local pols and naysayers wrecked the housing market in Massachusetts. Now, they’re threatening to do the same thing to the state’s new clean energy industry unless Beacon Hill can stop them.
- If you have a fixed-rate mortgage, your payments will always stay the same, right? Wrong. Taxes and insurance premiums invariably rise – which means your house payment does, too.
- 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.
