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 Nick Stoico President Biden has nominated former Boston mayor Martin J. Walsh to serve on the United States Postal Service’s board of governors, the White House said Thursday. Walsh, a Dorchester native, served in Biden’s cabinet as labor secretary until he left last year to become executive director of the National Hockey League Players’ […]
By Richard Berger Retail is positioned to become the US’ highest occupancy commercial real estte category, according to a new report from Marcus & Millichap. The firm said this long-term forecast is bolstered by a consumer base that is expected to grow by more than 4.8 million households from 2024 to 2028, notably eclipsing the […]
By Greg Ryan Boston-based Rafi Properties has withdrawn a zoning proposal that would enable the firm to build taller at its Somernova business campus in Somerville, with plans to refile the measure this spring after more discussions with local officials and residents. Last year, Rafi proposed replacing Somernova’s low-slung structures with five significantly taller buildings totaling nearly 2 […]
By Greg Ryan The office-market meltdown in downtown Boston is about to enter a new stage. Many landlords have accepted the harsh post-pandemic reality that their buildings have fallen in value, so much so that they are willing to argue as much to the city to try to cut their tax bills, according to property owners […]
By Rowan Walrath In a first for the Nobel Prize-winning gene-editing technology, a CRISPR-based drug has been approved in the U.S. The Food and Drug Administration gave the green light Friday to exa-cel, a drug made by two Boston-based companies, Vertex Pharmaceuticals Inc. (Nasdaq: VRTX) and CRISPR Therapeutics Inc. (Nasdaq: CRSP). It will be marketed under […]
By Steve Matthews and Catarina Saraiva Federal Reserve officials shifted their tone this week, inching closer to the conversation markets have long been having: When will the central bank begin cutting interest rates? A litany of policymakers — including six who will vote on policy next year — indicated in recent days that they were comfortable with keeping rates […]
By Steph Solis The creators of a new venture studio in Kendall Square aim to make Massachusetts the global center of the AI industry. Driving the news: CIC, which operates “innovation campuses” worldwide, partnered with C10 Labs, an MIT Media Lab spinout, to launch an AI venture studio space. Why it matters: The founders want to harness […]
By Sam Goldfarb Wall Street is gearing up for rate cuts. Twenty months after the Federal Reserve began a historic campaign against inflation, investors now believe there is a much greater chance that the central bank will cut rates in just four months than raise them again in the foreseeable future. Interest-rate futures indicated Monday a 52% […]
By Christopher Anstey (Bloomberg) — Former Treasury Secretary Lawrence Summers said that “transitory factors” have been one element in a faster slowdown in US inflation than he anticipated. “Given how strong the economy has been, there’s still a surprise in what’s happened to inflation,” Summers said on Bloomberg Television’s Wall Street Week with David Westin. That […]
