Boston Business News
BUSINESS NEWS
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...
Greater Boston’s Dining Scene Welcomes New Restaurants
News Summary The Greater Boston area is experiencing a surge in new restaurants and eateries set to open throughout 2025. From traditional favorites to innovative concepts, these establishments aim to...
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,...
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...
Significant Funding Cuts Threaten U.S. Biotech Job Market
News Summary Funding reductions in U.S. science and biotechnology sectors are significantly disrupting job opportunities for scientists. Proposed cuts for 2026 include a 40% reduction for the National Institutes of...
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....
Finance
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...
Economic Risks from Federal Policies Threaten Massachusetts
News Summary A report by Boston University’s Mark Williams reveals potential economic damage from Trump administration policies affecting key sectors in Massachusetts. The analysis indicates that federal funding cuts, tariffs,...
Boston Maintains AAA Bond Ratings Amid Economic Challenges
News Summary Boston has successfully retained its AAA bond ratings from Moody’s and S&P Global for the twelfth consecutive year, showcasing the city’s fiscal resilience amidst economic challenges. This achievement...
CONSTRUCTION
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...
New Proposal to Revive Historic Alexandra Hotel in Boston
News Summary A new proposal has been introduced to revitalize the long-vacant Alexandra Hotel in Boston, aiming to restore its Victorian Gothic charm. After multiple failed attempts and challenges from...
Marketing
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Real Estate
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....
Abington and Nearby Areas Showcase Diverse Real Estate Listings
News Summary The real estate market in Abington and surrounding areas is thriving, featuring a range of properties to meet various buyer preferences. Notable listings include modern and historic homes...
Boston Faces Decline in International Tourism
News Summary Boston is preparing for a significant downturn in international tourism, particularly impacted by a projected 20%-25% decrease in Canadian visitors. The hospitality and leisure sectors, which employ over...
Boston Lab Market Faces High Vacancy Rates Amid Development
News Summary Boston’s lab market is struggling with high vacancy rates despite nearly 1 million square feet of new lab space certified by the BPDA. Key developments, including Eli Lilly’s...
