Boston Business News
BUSINESS NEWS
Economic Challenges for Harvard Square Businesses Amid Immigration Policy Changes
News Summary Businesses in Harvard Square are concerned about declining customer numbers as international student enrollment remains uncertain due to changing immigration policies. Venue owners, including those from the hospitality...
New Culinary Establishments Transform Greater Boston’s Dining Scene
News Summary The Greater Boston area welcomes a wave of new culinary establishments that broaden the local dining landscape. Notable openings include Salsa Shack, offering New England-style street tacos; TooHot,...
Boston Emerges as Top Destination for Former Federal Employees
News Summary Boston is rapidly becoming the favored location for over 58,000 federal workers recently laid off, driven by an increasing job market. The city has seen a 60% rise...
Maine to Establish First Co-Working Wet Laboratory for Startups
News Summary The Maine Technology Institute is launching an initiative to create the state’s first co-working wet laboratory to support life sciences startups. With a proposed budget of $2.75 million,...
Boston’s Burger Scene: A Comprehensive Guide
News Summary Boston’s culinary landscape boasts an impressive variety of burger options, appealing to every taste from fast food to gourmet experiences. This guide covers the best spots, such as...
Park City Venue Opens in South Boston
News Summary South Boston welcomes Park City, a new 30,000 sq ft outdoor venue designed for family-friendly enjoyment. With diverse entertainment, a unique food menu, cocktails, and a variety of...
Greater Boston’s Thriving Dining Scene Welcomes New Restaurants
News Summary Greater Boston is set for a culinary transformation with numerous restaurant openings. From Hearth & Hug Bakery’s expansion to innovative vegan offerings, the area is enhancing its diverse...
Veolia Expands Waste Management in Massachusetts
News Summary Veolia, a French environmental services leader, has expanded its North American presence by acquiring two waste management companies in Massachusetts, New England Disposal Technologies and New England MedWaste....
Massachusetts Tackles Housing Shortage with Office Conversions
News Summary Massachusetts is addressing a significant housing shortage by converting older office buildings into residential units. With 15 office-to-residential projects proposed or approved in Boston alone, developers aim to...
Finance
Boston Emerges as Top Destination for Former Federal Employees
News Summary Boston is rapidly becoming the favored location for over 58,000 federal workers recently laid off, driven by an increasing job market. The city has seen a 60% rise...
Boston Faces Economic Challenges, Analyzed in New Book
News Summary Boston is facing significant economic hurdles as it aims to maintain its global city status, according to James O’Connell’s new book, ‘Boston and the Making of a Global...
Boston City Council Forms Commission to Tackle Office Vacancies
News Summary The Boston City Council has unanimously approved a resolution to create a Blue Ribbon Commission to address the rising office vacancy rates in downtown Boston. Initiated by Councilor...
Boston Faces $1.7 Billion Decline in Commercial Property Tax Revenue
News Summary A recent study highlights a potential $1.7 billion drop in Boston’s commercial property tax revenue over the next five years, attributed to changing post-pandemic work patterns. The forecasted...
Vertex Pharmaceuticals to Lay Off 125 Employees in Rhode Island
News Summary Vertex Pharmaceuticals has announced the layoff of 125 employees in Rhode Island due to the discontinuation of its VX-264 program aimed at treating Type 1 diabetes. The layoffs,...
Boston Property Owners Face Hidden Tax Penalties
News Summary Commercial property owners in Boston are encountering unexpected tax penalties during abatement filings, termed the ‘hidden penalty.’ This trend leads to increased property values and taxes, raising concerns...
Boston Commercial Property Owners Face Rising Taxes After Appeals
News Summary Commercial property owners in Boston are encountering unexpected tax increases after filing for tax abatements, a trend highlighting rising assessed values contrary to their expectations for tax relief....
Tom Brady Invests in Boston-Based Crypto Startup Catena Labs
News Summary Tom Brady has joined several high-profile investors in funding Catena Labs, a Boston cryptocurrency startup that has secured $18 million in investments. The firm aims to merge AI...
Boston Tourism Faces Significant Decline Amid Economic Concerns
News Summary Boston is facing a projected 10% drop in international visitors by 2025 due to economic and diplomatic tensions. This decline reflects a nationwide loss of around $12.5 billion...
CONSTRUCTION
Massachusetts Tackles Housing Shortage with Office Conversions
News Summary Massachusetts is addressing a significant housing shortage by converting older office buildings into residential units. With 15 office-to-residential projects proposed or approved in Boston alone, developers aim to...
Mayor Wu Proposes Zoning Changes to Revitalize Boston
News Summary Boston is poised for transformation as Mayor Michelle Wu proposes new zoning laws designed to revitalize the downtown area. The proposed changes aim to address high vacancy rates,...
Boston’s Shift Towards Vocational Education Amid Rising Costs
News Summary Boston is experiencing a notable shift in attitudes towards vocational education as the costs of college rise. With average college graduate salaries peaking at $60,000, skepticism about the...
Lego Group Opens New U.S. Headquarters in Boston
News Summary The Lego Group has officially established its new U.S. headquarters in Boston, moving from Connecticut after 50 years. The new office spans 157,000 square feet and is set...
Transom Real Estate Wins Bid for Medford Square Development
News Summary Transom Real Estate has secured a bid to develop three city-owned parcels in Medford Square, set to include 283 housing units and commercial spaces. The project features a...
Massachusetts Senate Proposes Tax Suspension for Multihousing Construction
News Summary Senate Democrats in Massachusetts are proposing a suspension of the sales tax on construction materials for multifamily housing to increase housing production. The initiative, led by Senator Julian...
Rockland Trust to Consolidate Operations into New Headquarters
News Summary Rockland Trust has announced plans to consolidate its operations into a new headquarters at One Technology Place in Rockland by fall 2026. This move will merge several offices...
Boston’s Office Market Faces Challenges Amid New Developments
News Summary Boston’s office market is undergoing significant changes as two major projects, South Station Tower and 10 World Trade, prepare for completion. Despite the introduction of over 900,000 square...
New Hotel Development Planned for Boston’s Seaport District
News Summary Developers have submitted plans for a new 15-story hotel in Boston’s Seaport District. The hotel will add 438 rooms, enhancing accommodation near the BCEC. This development aims to...
Marketing
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Real Estate
Massachusetts Tackles Housing Shortage with Office Conversions
News Summary Massachusetts is addressing a significant housing shortage by converting older office buildings into residential units. With 15 office-to-residential projects proposed or approved in Boston alone, developers aim to...
FPA Multifamily Sells Zen Easton for $33 Million
News Summary FPA Multifamily has sold Zen Easton, a 99-unit apartment community for seniors, for $33 million. Located in Queset Commons, Easton, it features various amenities and offers apartment configurations...
International Students Fuel Boston’s Luxury Market Growth
News Summary The influx of international students has bolstered Boston’s luxury market significantly. Retailers like Bulgari report increased sales, especially among wealthy students from cities like Shanghai. The economic contribution...
Boston City Council Forms Commission to Tackle Office Vacancies
News Summary The Boston City Council has unanimously approved a resolution to create a Blue Ribbon Commission to address the rising office vacancy rates in downtown Boston. Initiated by Councilor...
Boston’s Life Sciences Market Faces Vacancy Spike
News Summary The Greater Boston life sciences sector is experiencing a significant shift as the lab vacancy rate reached 25%, up from nearly zero in 2022. This increase is mainly...
Boston Faces $1.7 Billion Decline in Commercial Property Tax Revenue
News Summary A recent study highlights a potential $1.7 billion drop in Boston’s commercial property tax revenue over the next five years, attributed to changing post-pandemic work patterns. The forecasted...
Bulfinch Cos. Proposes Mixed-Use Development in Needham
News Summary Bulfinch Cos. aims to revise its development plans for the former Muzi Ford site in Needham, shifting from a life sciences complex to a mixed-use project. The new...
Boston Property Owners Face Hidden Tax Penalties
News Summary Commercial property owners in Boston are encountering unexpected tax penalties during abatement filings, termed the ‘hidden penalty.’ This trend leads to increased property values and taxes, raising concerns...
Boston Commercial Property Owners Face Rising Taxes After Appeals
News Summary Commercial property owners in Boston are encountering unexpected tax increases after filing for tax abatements, a trend highlighting rising assessed values contrary to their expectations for tax relief....
