The Business Monitor International upgraded their 2014 real GDP growth forecast from 2.7% to 2.8% with growth set to average 2.4% per year from 2013-2018. Our economy is recovering. With a growing external trade demand from the key US trade partners, including Canada, Mexico and the United Kingdom, both the industrial and office segments […]
The easiest and most efficient way to commute around and in the Boston area is by riding the T. It is a common use of transportation that many citizens use. The “T” has stations all throughout Boston and in neighboring areas. A nub on the T, connecting the Blue and Green Lines is Government Center […]
The redevelopment of the new World Trade Center reached a significant milestone last Friday, as construction workers added the final vertical piece to the puzzle. A 408-foot spire was placed atop One World Trade Center, which has 104 stories and now stands at an imposing 1,776 feet above street level. A collective effort to rebuild […]
Bristol-Meyers Squibb, a pharmaceutical company based in New York, announced plans for a $250 million expansion in Devens. The expansion, motivated by tax incentives, will shift jobs from New York and New Jersey to the Bay State. The company plans to expand its biologics manufacturing facility, which was completed in 2009 for $750 million, as […]
Mayor of Providence, Angel Taveras, released an action plan for economic development on March 27th, 2013. In an open letter to his constituents, Taveras discusses the economic challenges Providence was faced with when he assumed office in 2011. “Unemployment was too high, private sector investment was too scarce and our housing market continued to suffer […]
Figures for quarter 4 are out and Boston’s retail market remained relatively stagnant. In fact, the vacancy remained at a constant 4.4% between quarters and vacant subleased space only increased by a negligible 38,829 square feet. Over the past year, Boston’s retail market has experienced an overall decrease in vacancy rates from 4.5% in Q1 […]
Mayor Menino announced plans to construct 30,000 new housing units in Boston by 2020.
A luxury high-rise tower on 45 Stuart Street near North Station was approved yesterday. The developer, AvalonBay, will begin construction on the 404 unit apartment tower within a few weeks. In fact, they have already applied for a foundation permit, says Scott Dale, Senior Vice President of Development for AvalonBay in Arlington, VA. The $425 […]
Construction of homes in the U.S. took a slight dip in January, however, still remains high relative to 2008. The Commerce Department says that construction declined from the 8.5% peak seen this past December to 7.8%. However, housing experts attribute this type of dip is seasonal and that January has always been a slow month in the […]
Thinking of selling your home? December marked the highest jump in prices since May 2006, 8.3% compared with December 2011. The jump can be attributed to a low inventory of homes and rising demand for housing nationwide. The effects of steady increases in home prices are overwhelmingly positive for the US economy. Owners are enticed […]
Since 2011, Boston’s Christian Science Church has pursued plans to reconstruct the church’s 15-acre plaza in the Back Bay. The plans submitted to the Boston Redevelopment Authority, which were approved in 2011, include the construction of two commercial buildings. The first has an approved high of 500 feet and the second has a pre-approved height […]
On October 2, 2012 the Cambridge Planning Board approved HYM Investment Group’s revised plans for the NorthPoint development. The development will transform the largest remaining land parcel in Cambridge into a 5 million square-foot, mixed-use development which will include: offices, retail, apartments, condominiums, access to public transportation, as well as parking.