Real Estate News

Five Things You Need to Know Today

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Good morning, Boston, and Happy Wednesday. Here are the five most important things you need to know to help start your busy business day. Find out why one transgender lawyer is joining with Charlie Baker on women's issues.  Also, Amazon finally offers same-day delivery to Roxbury and more!

 

 

$22 Million Project for Roxbury Headquarters Proposed By Suffolk Construction

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Suffolk Construction (the biggest general contracting firm in Massachusetts) is preparing for a $22 million expansion of its headquarters in Roxbury to accommodate its projected growth by 10% in headcount.

A 38,000 sq. ft. expansion is proposed at 79 Allerton St, a location adjacent to the companies current headquarters.

Six Great Propositions for Boston's Winthrop Square

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Here are some proposals from 6 developers who are competing to redevelop the Winthrop Sq. area(a humungous garage in the Financial District).

Proposal No. 1: Accordia Partners: Proposed a 725-ft, 57-story tower spreading over 768,600 ft. The tower would incorporate 188 apartment units, a hotel with 280 rooms, a black box theatre with 175 seats, an observatory deck on the 56th floor, a restaurant on the 57th floor with stunning views of Boston, 5,300 sq. ft. of street level dining space and 2,638 sq. ft. of retail space with a underground parking structure. The proposed development would include 34,000 sq. ft. of community and civic space.

 

Boston Needs These Transportation Projects to be Completed Soon

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The people of Boston are genuinely grateful for the recent reopening of an amazingly renovated Government Center T station in the heart of downtown Boston. Well, it finally happened!

But what about the other transportation projects that have been in the planning stage for a prolonged period of time? There are 5 of those that the area could urgently utilize.

10% Rise in Employment for Construction Workers in Greater Boston

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Based on a recent report by the Associated General Contractors of America, there has been a double digit gain in employment in the Greater Boston Area in the construction industry. 61,400 workers were employed in February by Greater Boston. This is a 10% increase from 55,600 last year.

The Millennial Homebuyer Affordability Crisis

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As millenials flock to major cities for professional opportunities, it seems their chances of being able to buy a home are slimmer than they realize. While nearly 80 percent of millennial homebuyers say they plan on purchasing a home someday, more than 40 percent have not started saving for a down payment.

 

Sales Seesaw: Vacation Homes Decrease, Investment Purchases Leap

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According to the National Association of REALTORS, in 2015, investment purchases saw an increase for the first time in five years. Meanwhile, vacation home sales cooled off but still remained at the second highest amount in nearly a decade.

Reflecting the strong price growth seen throughout the U.S., the median sales price of both vacation and investment homes surged in 2015.

 

Pending Home Sales Reach Highest Level in Seven Months

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Pending home sales rose to their highest level this February, and remain higher than a year ago according to the National Association of REALTORS?. Led by a sizeable increase in the Midwest, all major regions except for the Northeast saw an increase in contract activity.

Although the Pending Home Sales index, a forward-looing indication based on contract signings, has now increased year-over-year for 18 consecutive months, last month?s gain was the smallest.

Massive Development On 18-Acres in South Boston

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Six developers are competing to change the 18-acre land site of the old Boston Edison power plant at Summer and First avenues in South Boston. Plant proprietor Exelon Corppration simply put the property available for purchase, and plans for its redevelopment are still pretty much in flux.

Current Prices for Condos in South Boston

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South Boston is without a doubt in flux these days, with significant developments either in progress or under the planning stage and the Seaport District infringing on the conventional region of the area.

To sum it all up, the average asking price in South Boston is $602 a square foot. Although there is a wide range behind that average: from $406 a foot on G Street to $781 a foot in the new second phase of the Allele complex.

The Most Important Things You Need to Know About Boston Business Today

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The five most important things you need to know about Boston today.
From a potential strike at Logan International Airport to Boston Scientific's CEO payout, read this to find out just how costly Boston is for Business.

Boston Properties Plans Massive Air-Rights Project Above Back Bay Station

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Boston Properties?is again planning a massive air-rights development at a major transportation hub, this time with a 1.26 million-square-foot mixed-use project above Back Bay Station.

Boston Giving $28M to Fund Affordable Housing in These Six Neighborhoods

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The city of Boston is providing $28 million in federal and local money to fund the development and preservation of hundreds of affordable housing units across six city neighborhoods.

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