US Economy Adds 88,000 Jobs and Millennial’s continue To Hunt for Jobs
The economy has added 88,000 jobs this March. Due to this increase the unemployment rate has dropped to 7.6%.
Social media in Commercial Real Estate
Trends in marketing for commercial real estate firms indicate that companies have moved beyond basic social media outlets to reach audiences. In the age of technology, online interaction has become essential. “Our industry has definitely joined in strategically implementing social media into our marketing plans,” said Ilene Jablonski, vice president of marketing of the multi-billion […]
U.S. economy bolsters European markets
A steady economic recovery in the United States has been bolstering European markets, which continue to face financial turmoil under the pressure of budget cuts. On Tuesday, European stock markets rose despite record high unemployment rates in Eurozone states. The rise is attributed largely to a strong U.S. market, which has recently experienced steady growth. […]
Deval Patrick notifies cities about road repair program
On Monday, Governor Deval Patrick notified cities and towns of their share of a $300 million statewide road repair program. However, in the letter Patrick warned that the program would only progress at that magnitude if additional state revenues were raised. The program, Chapter 90, increases statewide funding to $300 million, a 50% increase from […]
Foreclosure rate down in the Bay State
Foreclosure activity in the state of Massachusetts continued to fall this quarter—signaling further economic recovery for the Bay State. The number of foreclosures in Massachusetts has remained under 1,000 for the fourth consecutive month, while petitions signaling the first step of a foreclosure have decreased by 38% year over year. 856 petitions were filed this […]
Mayor Taveras of Providence outline economic plan for city
Mayor of Providence, Angel Taveras, released an action plan for economic development on March 27th, 2013. In an open letter to his constituents, Taveras discusses the economic challenges Providence was faced with when he assumed office in 2011. “Unemployment was too high, private sector investment was too scarce and our housing market continued to suffer […]
Commercial property tax increases in 2013
Commercial property tax has increased in and around the Boston area. The 2013 numbers are out and communities such as Everett, Framingham, and Holyoke experienced increases in their already sky high rates. Everett’s commercial property rate is much higher than any other city in the area at $43.04 for every $1,000 of assessed property value. […]
Mayor Menino announces plans for development in Boston
Mayor Menino announced plans to construct 30,000 new housing units in Boston by 2020.
Trends to look for in the commercial real estate market
In the past years, the commercial real estate market has experienced a multitude of changes in response to poor economic conditions. Tenants, particularly large public firms, have been downsizing to cut costs. Office spaces are changing to accommodate downsizes. For example, non-dedicated offices and flex spaces are being utilized to diminish costs. In addition, Norm […]
Tropical Foods
Dudley Square might be getting a new-and-improved Tropical Foods! Tropical Foods, a supermarket opened in Dudley Square in 1974, hopes to start construction with Madison Park Development Corp. on a $44 million mixed-use project. The Boston Redevelopment Authority received their letter of intent, which outlined plans to develop 2.75 acres in Dudley square in a […]