Updates in the world of Commercial Real Estate
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 […]
On September 1st, 2011 the U.S. Department of Housing & Urban Development announced that it will allocate one of five Choice Neighborhoods Initiative grants to the redevelopment of the Dorchester Quincy Street Corridor.
Residents of Massachusetts can expect an increase in the average property owner’s tax rate by next year. The Department of Revenue has reported that 21 community property tax rates have been approved and all but the towns of Eastham and Alford plan to increase rates on residential and commercial property (Boston Business Journal). The expected […]
Wegmans, a high-end grocery chain based in Rochester, New York, is set to break ground on a new Massachusetts store on October 16th. The family owned grocery chain opened its doors in 1916 and today boasts 78 stores in 5 states and employs over 40,000 people. The new 135,000 square-foot store, located in Northwest Park […]
Athenahealth, a health information technology firm, is on the search for a new headquarters. CEO Jonathan Bush said, “We’ve got to expand or more,” regarding the companies current location in Watertown, MA. The company is looking to triple the size of its headquarters to around 1,000,000 square feet of office space. The space will be […]
Since the second quarter of 2011, Vacancy rates in Cambridge have been improving. Cambridge’s vacancy rate peaked that quarter at 10.3% and has been steadily declining since. The figures are in for the second quarter of 2012 and vacancy rates have dropped to 9.4% with a total of 10,137,858 square feet vacant in the Cambridge […]
The New England Revolution, a professional soccer club based in Foxborough, may be moving. The owner of the club, The Kraft Group, is interested in constructing a new $100 million soccer stadium in Assembly Square, Somerville. Currently, the team plays at Gilette Stadium, which has a massive capacity of 68,756. Unfortunately for the Revolution, the […]
After the closing of Jp Licks ice cream on Newbury Street, the ice cream shop has announced they will be returning to a new location in the Back Bay! Looney Tunes, Boylston St. (below) JP Licks on Newbury before closing (below) The new location is the former “Looney Tunes” record store on Boylston Street, near […]
