Updates in the world of Commercial Real Estate
BRA raises pay for first time in 5 years The Boston Redevelopment Authority has increased many on its employees’ salaries for the first time in 5 years. All except for top earners within the organization received a 3% increase relative to 2012 salaries. Spokeswoman of the BRA Susan Elsebree said, “This was the right time […]
Developers Samuel & Associates and Weiner Ventures have received approval from the state to build a $360 million residential, commercial, and hotel development in the Back Bay. The real estate groups were victorious in acquiring the air rights above the development site. Although details regarding the development are sparse, it will likely transform the Boylston […]
This Tuesday, Chairman of the Federal Reserve Ben Bernanke told Congress that the Fed’s low interest rates will continue. The implications of this announcement are vast. The real estate market, which is closely linked to interest rates will benefit from low interest-rate policies that allow developers to borrow at lower rates. This promotes the construction […]
The number of multi-family housing permits in the Bay State nearly doubled in 2012 in comparison to 2011. 2,752 multi-family permits were issued in Massachusetts in 2011 while in 5,019 were issued in 2012. The increase in permits reflects an increased demand for rental housing the Bay State. This year marked the most permits issues […]
A luxury high-rise tower on 45 Stuart Street near North Station was approved yesterday. The developer, AvalonBay, will begin construction on the 404 unit apartment tower within a few weeks. In fact, they have already applied for a foundation permit, says Scott Dale, Senior Vice President of Development for AvalonBay in Arlington, VA. The $425 […]
Construction of homes in the U.S. took a slight dip in January, however, still remains high relative to 2008. The Commerce Department says that construction declined from the 8.5% peak seen this past December to 7.8%. However, housing experts attribute this type of dip is seasonal and that January has always been a slow month in the […]
Thinking of selling your home? December marked the highest jump in prices since May 2006, 8.3% compared with December 2011. The jump can be attributed to a low inventory of homes and rising demand for housing nationwide. The effects of steady increases in home prices are overwhelmingly positive for the US economy. Owners are enticed […]
Acme Packet announced that it has agreed to be acquired by Oracle for an equity value of $2.1 billion. This acquisition is expected to improve all IP-networks so there is a secure and reliable communication between devices. It will also help service providers and enterprises with the demanding requirements of IP-networks. ‘”Acme Packet brings deep domain […]
Following the housing bubble, construction of new homes declined sharply. The effects of low home inventories were felt in 2012 and will continue throughout 2013. The MLS Property Information Network reports that prospective buyers in Massachusetts had 23% fewer homes to select from compared to this time last year. In fact, in just Boston alone […]
Jason Owens, the man behind Bee’s Knees Supply co., is making waves in South Boston. The high end supermarket, slated to open this winter, will boast a unique selection of high-quality, gourmet foods. The store will include 5,500 square feet of fresh produce, meats, seafood, as well as downtown Boston’s largest selection of cheese. In […]
