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 […]
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. […]
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 […]
The U.S. Olympic Committee has begun the process of preparing a bid to host the 2024 Summer Olympic Games. If chosen, it will be the first time a U.S. city has hosted the Summer Games since 1996. 35 mayors representing cities around the U.S. received letters from the Olympic Committee which is looking to gauge […]
A new trend called paint-and-sip is making a mark on Boston. In 2010, Jill Kerner Schon opened The Paint Bar, a unique business that teaches costumers how to paint, while serving wine and other beverages. The Paint Bar was the first business of its kind to open up in the area, however, soon after the […]
Last April, Boston became the first city in the Western Hemisphere to land Boeing’s new 787 “Dreamliner” plane. The inaugural landing marked the first direct flight from Tokyo’s Narita International Airport to Boston’s Logan International Airport. However, since the Dreamliner debuted last year, the plane has been plagued with incidents and emergency landings. Three weeks […]
Bright Horizons Family Solution, a provider of employer-sponsored child care, early education, and work solutions founded in 1986, is scheduled to begin trading on the NYSE today. This IPO is the first for a Massachusetts based company in 2013 and only the 17th in the past two years. Bright horizons will be traded under the […]
The Dorchester Bay Economics Development Corporation (DBEDC), responsible for the Quincy Street Corridor revitalization, has recently been certified by the United States Small Business Administration (SBA) to administer the SBA 504 loan program. This program, funded by the federal government, is an economic development program that administers loans as well as other forms of financing […]
Rental rates are up 6.4% year-over-year in 2012, reports Trulia. The median monthly rent for Boston is now a steep $2,400. Most brokers expect an increase in demand during the early months of the calendar year due to lease expirations from the previous year. However, there is some relief for individuals looking to lease a […]
