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Image courtesy of Pelli Clarke & Partners
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.
Boston Properties signed a 90-year lease with the agency for the site, which includes a parking garage that would be partially demolished to make way for the 668,000-square-foot office tower.
But it could be a while before a tower rises over the transit hub: Boston Properties has stated it doesn’t plan to construct any new office buildings without an anchor tenant.
What else is on tap today?
- Dana-Farber Expansion Plans: 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.
- Will the Fed Ever Cut Rate? With economic data looking strong – the commercial real estate sector aside – traders and economists are starting to wonder whether Fed policymakers will see a need to even cut at all.
- Dimon Warns of Rate Spikes: With some investors and economists questioning whether the Federal Reserve can make good on interest rate cuts this year, the JPMorgan Chase CEO warned of the possibility of rates rising to 8 percent or higher.
Show me the data!
Here’s who’s leading the pack among Bristol County mortgage lenders.
What did I miss?
Here’s what you might have missed in Sunday’s newsletter. Not a B&T subscriber? Fix that here.
- Everyone talks about office-to-residential conversions as downtown Boston’s savior. But some architects and developers believe office-to-hotel projects could be just as important, if not more so.
- Gov. Maura Healey has crafted a winning playbook to get funding for big infrastructure projects. But it can only work if we get a move on planning other items on the state’s wish list, A Better City’s Rick Dimino argues.
- A partnership between Camber Development and Wheelock Street Capital has begun construction of a 238,000-square-foot warehouse and distribution facility in Wilmington.
