By Owners Developers & Managers Somerville, MA According to Rafi Properties, owner and operator of Somernova, the 7.4-acre innovation campus and community dedicated to helping people and companies iterate and grow faster, Somerville Media Center (SMC) will expand their footprint at the campus and open a new media center designed to spark creativity and amplify community […]
By Isabelle Lee Good morning. Powell signals a delay to rate cuts. China tries to settle nerves about its new stock exchange rules. And the US considers more sanctions against Iran. Here’s what’s moving markets. — Isabelle Lee Staying high Federal Reserve Chair Jerome Powell said recent inflation data have indicated it will likely take longer for the central […]
By Grant Welker Somerville’s Assembly Row will soon welcome a second location of Davis Square favorite Posto, a new concept from the group behind Papagayo and Civility Social House, and a fifth location of Amelia’s Taqueria. Posto will open a nearly 6,000-square-foot space with a full-service dining room, cafe and take-out market at the recently closed FRANK in […]
By Jim Morrison Three-deckers were once a reliable and well-worn path for working-class, Boston-area families to get into the housing market and build considerable wealth over time. The owner often moved into the first-floor unit, and the rents from the upper floors would cover the monthly mortgage. That was the plan, anyway. Last year, according to Multiple […]
By Grant Welker There isn’t enough new housing being built in the Boston area to suddenly make the region affordable. But builders are finding places to build — mainly in former industrial pockets in such places as Everett and South Boston, as well as relatively less-dense neighborhoods in Allston and Quincy. Residential developments now under construction […]
By Erik Sherman Anti-money laundering has become an ongoing topic for the Biden administration. The latest round of reports focuses in part on real estate. As a result, the Treasury Department has proposed new rules that would government CRE transactions. The report addressed real estate as part of a luxury and high-value goods category. “Money laundering through real estate can […]
BOSTON – Leaders of housing advocacy groups today celebrated the Chelsea City Council last night who unanimously voted to pass new zoning to create more homes near transit in line with the MBTA Communities Law. With this vote, all 12 Rapid Transit Communities have met the year-end deadline to adopt new zoning – a historic […]
By Will Parker When Tressy Coats looked to rent a somewhat worn-out, three-bedroom house in Virginia Beach, Va., two years ago, the market was so tight that 46 other people applied to rent the same home. This June, Coats found an ocean-facing, two-bedroom apartment in that city. The $2,100 a month rent was lower than she […]
By Richard Berger Operational costs for apartment companies grew by 8.6 percent on average year-over-year in the second quarter of 2023, according to a new report from Marcus & Millichap. Effective rents rose at nearly twice the pace of expenses during the yearlong period ending in June 2022, but those trends inverted over the following […]
By Will Parker America’s suburbs are posting the country’s fastest-rising rents, a sign that the recent migration of families from major cities is starting to look more long-term. Many white-collar workers with remote jobs moved out of city apartments for roomier accommodations during the early months of the pandemic in 2020. Now, high mortgage rates and home […]
