Don't see images? Click Here SUBSCRIBE FOR FREE MANAGE EMAIL PREFERENCES
Bisnow - (Almost) Never Boring
December 15, 2022

Wu Proposes Higher Fees, Affordability Requirements For New Developments

Sarah Lemke From New England Development Discusses Challenges Faced During CambridgeSide Project Mar. 7

Mayor Michelle Wu is proposing tighter requirements and more fees for development in Boston to help spur affordable housing production.

Wu Proposes Higher Fees, Affordability Requirements For New Developments In Boston

On Thursday, Wu proposed changes to the city's Inclusionary Development Policy that would require new multifamily buildings of seven or more units to include 20% affordability, a jump from the existing rules that require buildings over 10 units to have 13% affordability.The mayor also proposed changes to the city's Linkage Policy, lowering the threshold for…

Read the full story here.

  Share:  

 
Perforation

Top Stories on Bisnow.com

Highgate Buying Luxury Hotel Operator Viceroy Highgate Buying Luxury Hotel Operator Viceroy
Redwood Materials Plans $3.5B Battery Materials Facility In South Carolina Redwood Materials Plans $3.5B Battery Materials Facility In South Carolina
Digital Realty Terminates CEO Bill Stein, Names CFO As Replacement Digital Realty Terminates CEO Bill Stein, Names CFO As Replacement
Twitter Isn't Paying Its Landlords Or Vendors, Prepping For Legal Battle Twitter Isn't Paying Its Landlords Or Vendors, Prepping For Legal Battle
Perforation

Developers Remove Building From $5B Boston Waterfront Project After Pushback

One of the biggest projects planned in Boston, a 6M SF waterfront development in Dorchester, has moved slowly through the approval process as it has received community pushback. But a newly submitted plan aims to address those concerns. 

Developer Accordia Partners and partner Ares Management filed revised plans with the Boston Planning & Development Agency Tuesday for the $5B Dorchester Bay City development that would scrap one 350K SF building, add new open space and increase the number of affordable units. 

Developers Remove Building From $5B Boston Waterfront Project After Pushback

“A key comment we heard throughout the process is that we were not sufficiently maximizing the potential impact of pairing green space on our site with existing publicly accessible space managed by DCR and the city of Boston,” Accordia Partners co-Managing Partner Kirk Sykes said in a release.Accordia’s new plan…

Read the full story here.

  Share:  

 
Perforation

Coworking Operator Workbar Expands Footprint In Boston Suburbs

Coworking Operator Workbar Expands Footprint In Boston Suburbs  

Workbar plans to open a new location in Framingham in June, continuing the coworking operator's Greater Boston expansion. The 21K SF space will be located at 111 Speen St., Workbar announced Wednesday. That building was acquired in April by Paradigm Properties and North…

Read Full Story

  Share:  
Perforation

In Case You Missed It...

Developers Aim To Make Fenway More Walkable With First Air Rights Projects In Decades Developers Aim To Make Fenway More Walkable With First Air Rights Projects In Decades
This Week's Boston Deal Sheet This Week's Boston Deal Sheet
BU's Billion-Dollar Master Plan Is Light On New Housing, To Neighbors' Chagrin BU's Billion-Dollar Master Plan Is Light On New Housing, To Neighbors' Chagrin
Mount Vernon Wins ZBA Approval For Brighton Apartment Building Mount Vernon Wins ZBA Approval For Brighton Apartment Building
Lab Vacancy Spikes In Cambridge, Making Room For Smaller Firms Lab Vacancy Spikes In Cambridge, Making Room For Smaller Firms
 
Perforation

There’s A Broker Playbook For How To Survive A Recession. Will It Work This Time?

There’s A Broker Playbook For How To Survive A Recession. Will It Work This Time?  

This isn’t the first shake-up in the office market Jodi Selvey has experienced — in fact, it’s the fourth. But the current market is unlike anything she has seen before, the Colliers principal with 35 years of experience said.

Previous recessions, like the dot-com bubble burst and the Global Financial Crisis, were confined to one sector or the result of a macroeconomic cycle crashing. This time, brokers are reckoning with a seismic shift driven by behavior, rather than purely economics, said Selvey, one of the top office leasing brokers…

Read Full Story

  Share:  
Perforation

‘You’re Not Going To See Us Make Mistakes’: Why Big Banks Are Pulling Back From CRE Financing

 

A lack of available debt is one of the biggest issues slowing commercial real estate development today, but institutional lenders say their pullback is rational given the risks in the market. 

"You can sit there and say the lender is the boogeyman, but one of the mantras in our hallway is, ‘The best way to make money in fixed income is not to lose it,'" Northwestern Mutual Regional Director Eric Ekeroth said at a Bisnow event last week. "So we’re not going to take risks until it feels like we understand it.”

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: 63337