With interest rates showing no signs of declining in the near future and lenders tightening their grip by the week, many real estate firms aren't able to finance new projects. Layered with local government hurdles and high construction costs, real estate experts and government officials who spoke at Bisnow’s Boston State of the Market event last week said new developments seem to be impossible to make work. But they said there will be opportunities to come as more distressed properties come to the marketplace. 
“Land is really not that significant anymore compared to the construction costs and the interest costs,” Young Park, president at Berkeley Investments, said at the event, held at The Davis Cos.’ 66 Galen St. in Watertown.“It makes no sense for a developer unless… Read the full story here. | 
