Zynga, a social game provider based in San Francisco, CA, has announced the closure of its Boston office as well as a 5% decrease in its full time work force of 2,900 employees. Reductions are part of a cost-cutting campaign the company has undergone due to recent declines in earnings. The company has also cut […]
Lock-Ober, a 137-year-old restaurant closed its doors indefinitely this weekend. The historic eatery, which has served royalty, presidents, and movie stars, now has a sign outside stating that is closed for business. The restaurant was founded in the late 19th century by a Frenchman named Luis Ober. Since it’s founding it has become a landmark […]
Plans for a $172 million expansion of Boston University’s law school tower were approved by the Boston Redevelopment Authority this past Friday. The new building, which will be named after media executive Sumner Redstone who donated $18 million to the project, will start begin this year and is expected to finish in 2015. Also, as […]
Residence who opposed the construction of apartments at the former Home for Little Wanderers in Jamaica Plain were left speechless after the Boston Redevelopment Authority approved the project. Boston Residential Group’s $75 million plan is to demolish the nearly 100-year-old building on South Huntington Avenue and construct a 196-unit apartment complex dubbed Olmsted Place. The […]
Media conglomerate News Corporation (NWS), founded by maintained by Chief Executive Rupert Murdoch, has set its sights on expanding its media empire to include the Los Angeles Times and Chicago Tribune. Tribune Company, owner and operator of the newspapers, is expected to emerge from bankruptcy by the end of the calendar year. In July of […]
A proposal by Mayor Thomas Menino to expand housing inspections in the Boston area has been met with great discern by landlords. The plan, which would cost property owners $3.5 million in just the first year of its implementation, is not favorable for landlords and tenants alike. Due to the fixed nature of available housing […]
Last week, Boston Properties announced a detailed proposal for a 22-story apartment tower in Kendall Square. The presentation, made by regional manager Bryan Koop and the firm’s project manager David Stewart, outlined plans for a 200,000 square foot project. If approved, construction would begin in 2014 with expected completion in 2016. President of the East […]
In the past week, two Massachusetts based clean energy firms declared bankruptcy. On Wednesday, clean energy firm Satcon Technology Corp. filed for Chapter 11 bankruptcy. The firm, which specializes in the production of conversion equipment utilities for solar panels, defaulted on $16 million dollar loan from Silicon Valley Bank and Compass Horizon Funding Company LLC […]
Millennium Partners, the firm developing Millennium Place at Washington and Avery streets, will begin selling condominiums this week. The 256 luxury condominiums range in price from “$550,000 for one-bedrooms facing a courtyard to $3.5 million for penthouses with rooftop terraces” (Boston Herald).
On October 2, 2012 the Cambridge Planning Board approved HYM Investment Group’s revised plans for the NorthPoint development. The development will transform the largest remaining land parcel in Cambridge into a 5 million square-foot, mixed-use development which will include: offices, retail, apartments, condominiums, access to public transportation, as well as parking.
