Banker & Tradesman June 4, 2018

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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS

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County close-up: Middlesex Spotlight: Lexington

Boston-based Ori Inc. has big ambitions for its robotic furniture systems, which combine entertainment, home office, storage and sleep spaces in a single collapsible component. Founded by MIT grad Hasier Larrea, the company created its original prototype at the MIT Media Lab and launched a pilot program two years ago with $1 million in angel investor funding.

IN PERSON

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WEEK OF MONDAY, JUNE 4, 2018

RESIDENTIAL REAL ESTATE BY THE NUMBERS

HIGHER GROUND

$5 million The sale price of the runner up home in this week’s Gossip Report on page 10. Source: The Warren Group

2,571 The number of homes sold in Middlesex County through April 2018. See By the Numbers on page 6. Source: The Warren Group

12,019 The total number of housing units in the spotlight town of Lexington for this week’s By the Numbers on page 6. Source: The Warren Group

6 Lexington’s national ranking of wealthy small cities. See By the Numbers on page 6. Source: Movoto

500 yards The home in the top spot of this week’s Gossip Report on page 10 has access to beaches 500 yards away. Source: MLS PIN

31,394

BUILDING UP BOSTON TO FEND OFF FLOODING

Shore-Based Resiliency Strategies Would Require Regulatory Reform BY STEVE ADAMS

The population of the spotlight town of Lexington in this week’s By the Numbers on page 6. Source: U.S. Census

BANKER & TRADESMAN STAFF

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hore-based defenses against more frequent and severe Boston Harbor flooding are coming into sharper focus as the city and developers consider strategies to protect some of region’s most valuable real estate. With a new study concluding a nearly 4-mile, $11.8 billion harbor barrier wouldn’t be cost-effective, the focus turns to protection of public infrastructure and existing buildings, and new design standards for future development. The estimated cost of $500 million, in today’s dollars, would be split between the public and private sectors.

$356,827 The state median sale price year-to-date in April 2018. See By the Numbers on page 6. Source: The Warren Group

$516,000 The median single-family sale price in Middlesex County year-to-date in April 2018. See By the Numbers on page 6. Source: The Warren Group

Shore-based resiliency strategies to protect waterfront properties from Boston Harbor flooding would be more cost-effective than a 3.8-mile harbor barrier.

Seaport developers and property owners including Procter & Gamble’s Gillette division are increasingly concerned about future damage, although the varied investment timelines of individual owners will influence their decisions, said Carly Foster, a planner for consultants Arcadis. “We had a range from those planning to be in the neighborhood a couple of years to 50 years. Their perspective on risk came from very different places,” Foster said at a Boston Harbor Now symposium last week. But almost universally, developers agreed that a collective approach to resiliency would be the most cost-effective. Continued on Page 8

COMMERCIAL INTERESTS

R E G U L AT O R Y R E L I E F

sourced from The Warren Group’s

Legislators Should Have Higher Priorities

$10B Banks Already Invested Heavily in Regulatory Infrastructure

Mortgage Market Share Module,

By Scott Van Voorhis | Banker & Tradesman Columnist

Unless otherwise noted, all data is

Debate Over Sports Betting a Waste of Time

Dodd-Frank Relief Came Late for Some Community Banks By Bram Berkowitz | Banker & Tradesman Staff

Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/ datasolutions.

Commercial Real Estate PAGE 3

Banking & Lending PAGE 7


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