Housing

What’s going on at Millennium Tower?

What’s going on at Millennium Tower?

Developer shuffles units to secure $36m mortgage

IT’S ALL A BIT MYSTERIOUS, but a recent real estate transaction at Millennium Tower sheds some light on the financial challenges of catering to the whims of well-to-do condo buyers. According to records at the Suffolk County Registry of Deeds, 16 units in the ultra-luxury condo building in Downtown Crossing were recently sold for the(...)

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MassHousing conflict?

MassHousing conflict?

Official failed to disclose ties to father, girlfriend

THE STATE’S CONFLICT of interest law seems pretty straightforward. A public official may not participate in any matter in which she or a member of her immediate family has a financial interest. But real life, as illustrated by a situation at the Massachusetts Housing Finance Agency, is rarely that simple. CommonWealth received a tip recently(...)

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Ash withdraws name from Cambridge post

Ash withdraws name from Cambridge post

Housing secretary says city manager job 'not the right fit'

STATE HOUSE NEWS SERVICE JAY ASH, SECRETARY, for the state’s Executive Office of Housing and Economic Development and one of three finalists for the open Cambridge city manager’s post, has withdrawn from the competition for the job. Ash publicly interviewed for the post last week but said in a statement on Wednesday that he’s decided(...)

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Double-whammy for Gateway Cities

Double-whammy for Gateway Cities

Municipalities are caught in vicious real estate cycle

CLARK UNIVERSITY IN WORCESTER this week unveiled a series of new data profiles suggesting Gateway Cities  are being hit with a real estate double-whammy: housing prices that are relatively low and rents that are relatively high. That combination is trouble because it means developers have little incentive to build new housing units in Gateway Cities(...)

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Affordable housing at risk

Affordable housing at risk

We need to preserve the 13A program

Solving the Massachusetts affordable housing crisis will not be possible unless we preserve existing housing as well as produce new homes.  Given the housing production constraints Massachusetts faces, losing even one unit of our current affordable housing stock strains an already-overburdened system.  Massachusetts is on the verge of losing thousands of units of affordable housing(...)

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On housing supply, the more things change…

To understand what holds back the state’s economy, and what causes young families who are otherwise drawn to Massachusetts life to flee for greener pastures, check out this piece by Jay Fitzgerald from the Sunday Globe. The biggest threat to the state’s economy is not taxes and business regulation but the sky-high cost of housing,(...)

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Lawrence facing housing crisis, report says

Lawrence facing housing crisis, report says

Property values low, rents high, new construction lags

A NEW REPORT suggests Lawrence is facing a major housing crisis, with property values low, rents high, and new construction failing to keep pace with population increases. The study, funded by six public and private organizations, was designed to give policymakers in Lawrence a sense of key housing trends. On almost every front, the trends(...)

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Dealing with chronic homelessness

Dealing with chronic homelessness

Pay-for-success approach shows promise

IN THE PAST TWO WEEKS, the city of Boston put the finishing touches on a new shelter for 400 homeless individuals on South Hampton Street and announced a bold homelessness triage system. Mayor Martin Walsh and city officials should be applauded for their swift and comprehensive response to the emergency closure of the Long Island(...)

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