Don't see images? Click Here SUBSCRIBE FOR FREE MANAGE EMAIL PREFERENCES
Bisnow - (Almost) Never Boring
May 26, 2022

HYM Secures $775M Investment, Breaks Ground On 16M SF Suffolk Downs

NB Development President Jim Halliday Discusses The New TRACK At New Balance Overlooking The Mass Pike June 22

HYM Investment Group and its partners held a groundbreaking ceremony Tuesday to signify the start of construction at Suffolk Downs, a 161-acre former horse racing track that is planned to feature more than 16M SF of mixed-use development. 

At the groundbreaking for the project's first phase, HYM founding partner and Managing Director Thomas O’Brien announced a joint venture partnership with National Real Estate Advisors, which he said will invest $775M toward the development's first 4,200 multifamily units over the next eight years.

HYM Secures $775M Investment, Breaks Ground On 16M SF Suffolk Downs Development

The Suffolk Downs project is ultimately planned to total 16.2M SF of development including 10,000 apartment units, 5.2M SF of life sciences and commercial space, 450K SF of retail space and 40 acres of parks and open space. The property includes land in Revere and Boston, and officials said the project is the…

Read the full story here.

  Share:  
 
Perforation

Top Stories on Bisnow.com

Hotel Industry’s ‘Healthier Picture’ Clouded By Gas Prices, Inflation As Summer Arrives Hotel Industry’s ‘Healthier Picture’ Clouded By Gas Prices, Inflation As Summer Arrives
Real Estate Executive Plans Relaunch Of Defunct Department Store Brands Real Estate Executive Plans Relaunch Of Defunct Department Store Brands
JPMorgan Replaces Real Estate With Crypto As Its Preferred Alternative Asset JPMorgan Replaces Real Estate With Crypto As Its Preferred Alternative Asset
Major EB-5 Regional Centers Sue Government Over Program’s Reauthorization Major EB-5 Regional Centers Sue Government Over Program’s Reauthorization
Perforation

Developer Moves Forward With 2 Mission Hill Multifamily Projects

Developer Moves Forward With 2 Mission Hill Multifamily Projects

Boston-based developer Blair Capital is pursuing a pair of multifamily developments totaling more than 120 units in the city's Mission Hill neighborhood. The developer presented plans Monday to the Boston Planning & Development Agency for a six-story, 40K SF residential development. The project at 1-4 Terrace Place would…

Read the full story here.

  Share:  
 
Perforation

'You Can Certainly Miss': Developers Launching Into Life Sciences Finding Labs Aren't Easy Money

Developer Michael Darby plans to break ground next month on the first life sciences project for his firm, Monument Realty, which has a long history of developing apartment buildings in the D.C. region.

At the 135K SF Monument Innovation Center, which Darby is building speculatively along the I-270 life sciences corridor in Maryland, Darby said he’s being a lot more cautious than in his area of expertise, where his track record gives him confidence to get ahead of market trends.

“It’s so easy to overestimate the demand,” he said of making the leap to life sciences. “It’s already inspired people to make bad mistakes and expand into the wrong markets.”

'You Can Certainly Miss': Developers Launching Into Life Sciences Finding Labs Aren't Easy Money

The life sciences real estate boom has convinced many developers to try their hand at expanding into the lucrative, and complicated, world of wet labs, fume hoods and biomanufacturing. CBRE research found $21.4B was invested in new biotech and lab real estate last year, a 62% increase.But the specialized…

Read the full story here.

  Share:  

 
Perforation

In Case You Missed It...

As Boston Biotech Overflows, Its Suburbs Go Platinum To Soak Up The Spillover As Boston Biotech Overflows, Its Suburbs Go Platinum To Soak Up The Spillover
This Week's Boston Deal Sheet This Week's Boston Deal Sheet
Alexandria Signs Biotech Tenant For Massive Watertown Campus Alexandria Signs Biotech Tenant For Massive Watertown Campus
TA Realty Acquires 9 Grocery-Anchored Shopping Centers In Boston, Providence Areas For $390M TA Realty Acquires 9 Grocery-Anchored Shopping Centers In Boston, Providence Areas For $390M
Vertex Signs Full-Building, 344K SF Lease To Expand Presence In The Seaport Vertex Signs Full-Building, 344K SF Lease To Expand Presence In The Seaport
 
Perforation

Trump Investigation Brings More Scrutiny To Secretive Way Commercial Properties Are Valued

A high-profile investigation into the biggest name in commercial real estate is shedding new light on the tight-lipped world of commercial property appraisals and revealing how owners — and their service providers — can skew their property values to mislead banks and tax authorities.

Read the full story here.

 
Perforation

Workers Are Winning The Return-To-Office Tug Of War

 

Executives want their employees at their desks more frequently, but the data shows workers aren't budging. The push-and-pull is leaving a permanent mark on office spaces, which are rapidly adapting to win the hearts — and feet — of a largely reluctant workforce.

Occupancy has plateaued at just over 43% for the last month in the 10 largest office markets, according to building access technology firm Kastle Systems’ Back to Work Barometer. Office use has flatlined despite significant upticks in business travel and business lunches being back on the table.

Many employers have mandated some kind of return to the office for workers, ranging from a few days a month to a couple of days a week. But amid a new rise in coronavirus cases and hospitalizations, plus a labor market favoring job seekers, workers' preference to be occasional office visitors is winning out over their bosses’ desires for them to be mainstays.

“I don't think that numbers are going to ramp up too rapidly,” said Ryan McKinney, executive managing director of office servicer Vestian. "It almost feels like summer Fridays have become summer Thursdays.”

Read the full story here.

 
 
BISNOW
 
       
 
You are receiving this email because you are either a member of the Bisnow community, have attended a Bisnow event, because you have a legitimate interest in real estate news and events because of your profession, or because of your business associations, memberships or partnerships.
 
This email was sent to: newsletter.archives@bisnow.com
 
   
 
123 William St, Suite 1505, New York NY 10038
Newsletter Approval Code: 58036