By Brooke Sutherland and Sri Taylor Boston Mayor Michelle Wu is seeking to raise commercial property tax rates to help protect homeowners from the brunt of the historic slump in office property values. Wu has submitted a petition for a temporary increase of the city’s tax-rate ceiling for commercial properties relative to residential levies. The proposal aims to redistribute the tax burden […]
By Grant Welker The Lineup, a small food hall at the base of downtown Boston’s tallest tower, has five food options in a block-long space that’s bookended by 50-foot glass walls and a striking red sculpture by glass artist Dale Chihuly. But not everyone’s working in the Financial District as much as they were when the […]
By Jon Chesto As she tries to bring downtown Boston back to life, Mayor Michelle Wu faces two real estate crises:Too much office space and not enough housing. Now, an ambitious plan that would revive a prominent block in the heart of the central business district could end up getting caught in the middle of […]
By The Editorial Board Two prime pieces of Boston commercial real estate went for bargain basement prices in the past couple weeks. A handsome building that takes up a city block at 179 Lincoln St. was acquired by the real estate firm Synergy, the Boston Business Journal reported, by assuming a $76.5 million mortgage on the property. […]
By Grant Welker Craft Food Halls will open its 10th Boston area location later this month at Studio Allston Hotel, joining others in Dorchester, Lexington, Marlborough, Waltham and Wellesley. The latest Craft Food Halls will open March 21, with nearly 8,000 square feet of indoor and outdoor space. It will include events, live music and events, […]
By Hannah Green Novartis is once again shelling out millions to buy a subsidiary of Boston-based IFM Therapeutics. Novartis (NYSE: NVS) said on Wednesday it is acquiring all of the outstanding capital stock of IFM Due, a subsidiary company of IFM. Novartis is paying IFM $90 million upfront for this acquisition, and IFM will also be […]
By: Emily Fu North River Leerink (NRL) has announced that 100 Chestnut, a purpose-built 200,000 square feet life Science building in Somerville, MA, is 90% leased. Ultragenyx, relocating from Kendall Square, has leased 42,500 square feet to consolidate their east coast R&D. CRADL has leased 16,000 square feet to open a contract vivarium and in […]
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 […]
