Image courtesy of Cambridge Seven
Redevelopment plans by Rhino Capital Advisors would restore the historic facade of a Bulfinch Triangle office building while creating an 82-room hotel with an “urban contemporary aesthetic” designed by architects CambridgeSeven.
Boston-based Rhino Capital Advisors is seeking approval of the project for the vacant 58,000-square-foot office-and-retail building at 110 Canal St. Rhino bought the property in late December by assuming nearly $14.6 million in mortgage debt.
What else is on tap today?
- OneUnited Bank Moving: The country’s largest Black-owned bank plans to relocate its headquarters out of Boston’s Financial District and into the traditional heart of the city’s Black community.
- Data Center Conversion: An EMC office building and data center in Hopkinton will be repositioned for R&D and flex tenants following its sale to a Boston developer.
- Anti-Tax Campaign: With housing debates finally nearing on Beacon Hill, the Greater Boston Real Estate Board says it will try to rally opposition to a transfer tax proposal included in Gov. Maura Healey’s housing bond bill.
- Satisfied Customers: A new analysis by J.D. Power has found that Rockland Trust and Eastern Bank are the two top large, Massachusetts-based banks operating in New England in terms of customer satisfaction.
Show me the data!
What did mortgage interest rates do this week? Kept rising.
What did I miss?
Here’s what you might have missed in Sunday’s newsletter. Not a B&T subscriber? Fix that here.
- Behind the scenes of Boston’s troubled office market, landlords and lenders are seeking ways to restructure their existing debt, keep control of properties and avoid foreclosure.
- With transfer taxes in the mix as the state legislature debates housing policy, the Massachusetts Association of Realtors says they plan to try and argue in favor of alternatives.
- Red hot for years, has the Boston luxury condo market finally lost its sizzle? It looks like it – and developers’ ability to offer cash back at closing could be keeping prices from coming down.
