B&T August 27, 2018

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Turn to page B1 for Banker & Tradesman’s monthly coverage of all things commercial real estate.

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

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County close-up: Hampshire Spotlight: Granby

Tamara Small has been the commercial real estate industry’s leading voice on Beacon Hill in her role as senior vice president of government affairs for NAIOP Massachusetts. In January, she’ll continue that role in a new leadership position as CEO of the 1,700-member organization, succeeding the retiring David Begelfer.

IN PERSON

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WEEK OF MONDAY, AUGUST 27, 2018

RESIDENTIAL REAL ESTATE BY THE NUMBERS

270 The number of new units in Mill Creek Residential Trust’s new development, Moderna Framingham, will bring to the city. See Yvonne Spicer’s column in CRE Insider for more on page B4. Source: Mill Creek Residential

12% The percent increase of housing permits in Boston and Greater Boston from 2016. See Richard Muraida’s story in CRE Insider on page B6. Source: The Boston Foundation

VILLAGE 15?

Newton Developer Has Big Ideas for Upper Falls

27 The number of acres in EDC and Northland’s park project in Newton. See Insider Insights in CRE Insider on page B2. Source: Newton Education Development Center

140,000 The amount of square feet converted to Jack’s Abby Brewing Springdale Barrel Room in a once-abandoned manufacturing space in Framingham. See Yvonne Spicer’s column in CRE Insider on page B4. Source: Jack’s Abby Brewing Co.

51,000 The number of affordable housing units in Boston. See Richard Muraida’s story in CRE Insider on page B6 for more. Source: Massachusetts Department of Housing and Community Development

AFTER 2-YEAR LISTENING TOUR, NORTHLAND FACES THE MUSIC BY STEVE ADAMS BANKER & TRADESMAN STAFF

31,000 The number of square feet in the New England Mobile Book Fair flex building in Newton. See Insider Insights in CRE Insider on page B2. Source: 128CRE

223 The number of units that will be added from the seven new projects the BPDA has approved. See Week on the Web on page 2 for more. Source: The Boston Planning & Development

600 The number of acres of commercial property the town of Chelmsford rezoned to allow more varied uses. See Jay Fitzgerald’s story in CRE Insider on page B1. Source: Chelmsford Community Development

Unless otherwise noted, all data is sourced from The Warren Group’s Mortgage Market Share Module, Loan Originator Module, Statistics Module and/or proprietary database. For more information please visit www.thewarrengroup.com/business/datasolutions.

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orthland Investment Corp. has taken the long view as it weighed its development options in Newton Upper Falls. The Newton-based developer acquired its first property in the neighborhood in 1978 and later redeveloped a FedEx facility into a shopping plaza. Then it acquired an adjacent factory complex with converted office space that was most recently occupied by shoe

manufacturer Clarks’ headquarters. With nearly 23 acres to work with off Needham Street, Northland is proposing the largest development in the Garden City’s modern history: a $650 million project including 822 apartments and condominiums and 365,200 square feet of ground-floor retail space in a 13-building complex totaling 1.9 million square feet. The application, following more than 100 community meetings, will get its first formal review at a city council hearing Sept. 25.

“We appreciate this is a very complicated project, and not one the city is used to dealing with,” said Peter Standish, Northland’s senior vice president of development. “In 2016, the advice that was given us was to get out and talk to the community. We’ve spent two years doing that.”

Reinventing Needham Street

Wedged near Newton’s southern border, the Needham Street corridor is an outlier in a city known for its walkable, transit-friendly vil-

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COMMERCIAL INTERESTS

A W E A LT H O F C H O I C E S

Begelfer Leaves Boston’s CRE Industry at a ‘Really Unique Time’

Boston Private Wealth’s Story Highlights Obstacles of Staff Turnover

By Scott Van Voorhis | Banker & Tradesman Columnist

By Bram Berkowitz | Banker & Tradesman Staff

NAIOP’s Chief to Depart As Personnel Go, After 30 Years at the Helm So Goes the Cash

Commercial Real Estate PAGE 3

Commercial Real Estate PAGE 8


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