Somerville — The proposed $25.8 million municipal bond is the central supporting element or keystone of the more than $1 billion redevelopment of Assembly Square. The bond will fund basic public infrastructure (road, water, stormwater, sewer, utility, traffic, lighting, and sidewalk improvements) that will: unlock funding for the new Orange Line transit station construction; and, […]
Update: ITA Software today announced its merger with Google has been approved, and said the two companies are working on closing the deal. Cambridge, Mass. could soon elbow its way into the company of Google Inc.‘s top three research and development site. If Google’s deal to buy ITA Software Inc. for $700 million goes through, […]
Infinity Pharmaceuticals Inc., a Cambridge drug discovery and development company, said that Joshua D. Hamermesh has been appointed its vice president of business and corporate development. Before joining Infinity, Hamermesh held the position of senior vice president, strategy and corporate development at Pervasis Therapeutics Inc.,Infinity Pharmaceuticals said.
In order to build a new Orange Line stop at Assembly Square, Mayor Joe Curtatone has asked the Board of Aldermen to borrow $25 million. The idea is that tax revenue from the first stage of the commercial and residential development would go towards paying off the debt and jump-start the redevelopment of Assembly Square. […]
Toys “R” Us Inc.’s improved financial prospects should bode well for its dozens of local stores operating on a seasonal basis. Less than a week after reports that the toy retailer’s private equity owners are mulling an $800 million IPO, Toys “R” Us said its 1,600 stores generated $6 billion in revenue and a net […]
The Boston Redevelopment Authority said Friday that Director John Palmieri has submitted his resignation. He will continue to lead the organization until May 1. The BRA did not detail a reason for Palmieri’s departure. Susan Elsbree, a BRA spokeswoman, said Palmieri formally informed Mayor Thomas Menino and the BRA board of his intention to step […]
WP Realty, a Pennsylvania-based real estate investor, is at least two months behind on its $18 million mortgage for the Danvers Crossing Shopping Center and is “unable to bring the loan current,” according to a report by Wells Fargo Bank. Calls to WP Realty, with offices in Bryn Mawr, Pa., were not returned Monday. The […]
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Construction of an Ikea, the Swedish retail phenomenon — whose inexpensive build-it-yourself furniture draws more than a million people a year to each of its stores — is on hold again in Somerville. “Like lots of retailers, Ikea is trying to figure out when the next economic upturn will be,” said Somerville Mayor Joseph Curtatone. […]
Alexandria Real Estate Equities expects to have permits in place this year for 1 million square feet of new development along Binney Street in Cambridge, although no construction timeline is yet available. The company recently got approval from Cambridge’s planning board for its 50 Binney St. project, a 496,000-square-foot building comprised office and research and […]
