Roxbury Committee Taps Black Developers For Nubian Square Projects

Healthpeak Properties is expanding its multimillion SF life sciences portfolio in Greater Boston by spending nearly three-quarters of a billion dollars for Cambridge Discovery Park in Alewife. The developer closed on the 620K SF campus of three Class-A life sciences buildings on Acorn Park…

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A multinational developer is proposing a 27-story office tower in Boston’s Back Bay neighborhood after paying $177M for a development site. Swedish construction giant Skanska purchased an approximately 3K SF parcel at 380 Stuart St. from John Hancock Life Insurance Co. and…

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After years of local and state politicians doling out billions in tax incentive packages to private companies, those leaders’ governments are suddenly faced with critical budget deficits as revenues dry up.

States, counties and cities have spent upward of $95B a year on corporate incentives and subsidies by some estimates. But despite the holes those incentives leave in municipal budgets, and an increasing nationwide pushback against them, politicians aren’t likely to stop offering tax breaks to private companies as they try to lead the recovery from a deep economic recession.

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LOS ANGELES — Tens of millions of Californians are under new stay-at-home orders lasting into the new year as the coronavirus health crisis worsens.

All regions in California are expected to drop below 15% available intensive care unit beds at some point this month. But the Southern California and San Joaquin Valley regions, as defined by the state, have already passed that threshold, and stay-at-home orders began Sunday night. 

The new stay-at-home orders ask people to stay home and avoid nonessential trips. The rules allow for indoor retailers to be open but limit them to 20% capacity. Outdoor dining is not allowed, though takeout and delivery are. Under the new restrictions, hotels are only supposed to be in use for coronavirus mitigation and containment purposes or as housing for essential workers and unhoused people. 

For many in commercial real estate, these shutdowns, while anticipated, will still hit hard. “It’s just adding more dire consequences on top of preexisting ones since March,” said Donald Wise, senior managing director of commercial real estate investment banking firm Turnbull Capital Group.

Bay Area counties San Francisco, Santa Clara, Marin, Contra Costa and Alameda plus the city of Berkeley preemptively launched their shutdown Sunday, though their region still had about 24% of its ICU beds open as of Sunday night. The stay-at-home orders, once implemented, will be in place for at least three weeks. 

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