ANNIVERSARY BY THE NUMBERS
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R E AA LL EES ST T F AI N A INA CL I IANLF OI R NM F A O TRI M A TSI I O RE AA T ET E& & FIN NC ON NN C E S 1I 8N7C2 E
County close-up: Worcester Spotlight: Northborough
IN PERSON
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Boston only has the world-class waterfront it does today thanks to Vivien Li and her decades of work marshalling support from developers and elected officials to clean up the harbor.
WEEK OF MONDAY, MARCH 21, 2022
RESIDENTIAL REAL ESTATE BY THE NUMBERS
COMMERCIAL INTERESTS
WU PLAYS
29 percent The share of Florida’s foreign buyers who hail from Russia. See James Sanna’s story on page 10. Source: National Association of Realtors
THE
$5.65 million
LONG GAME
The sale price of the most expensive home in this week’s Gossip Report. See page 10. Source: The Warren Group
$370,000 The median single-family sale price so far this year in Worcester County. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
16 Massachusetts is not one of the top 16 states for attracting Russian buyers. See James Sanna’s story on page 10. Source: National Association of Realtors
8,708 square feet The largest home in this week’s Gossip Report. See page 10. Source: The Warren Group
New Mayor Opts for Scalpel, Not Dynamite
5,897
BY SCOTT VAN VOORHIS
The number of homes in Northborough. See the Town Spotlight in By the Numbers on page 6. Source: Census Bureau
worn in barely four months ago, Boston Mayor Michelle Wu is already sending shock waves through the city’s development scene, though maybe not quite in the way many expected. Contrary to expectations, the new mayor didn’t immediately nuke the Boston Planning & Development
53 percent Condominium sales in Boston’s urban core rose 53 percent last year. See James Sanna’s story on page 10. Source: The Collaborative Cos.
BANKER & TRADESMAN COLUMNIST
S
Agency, instead opting for a go-slow approach to dismantling an agency she spent years railing against as a city councilor. But Wu hasn’t been sitting on her hands, either, pushing ahead in a search for a first-ever planning czar for Boston, while also moving to clip the BPDA’s powers in other ways.
Key First Step Soon
Meanwhile, she is refocusing city planning efforts away from downtown, with efforts to steer development toward often-neglected neighborhoods. “The long game.” That might be the
best way to describe Wu approach so far to reshaping the city’s development bureaucracy. Wu clearly feels passionately about dismantling a BPDA she sees as a vestige of an earlier, heavy handed, topdown approach to city development, having issued a detailed report on the issue as a city councilor. But maybe less known is the fact that Wu, during her successful campaign for mayor last fall, pledged to sunset the agency in a way that wouldn’t leave projects in the lurch or send developers running for cover. Continued on Page 3
1,338 square feet The smallest home in this week’s Gossip Report. See page 10. Source: The Warren Group
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.
MISSED CONNECTIONS
FOOTPRINT FLUX
Study Focuses on Transit Upgrades Amid Development Boom
Boston Leads Nation in Closures Amid Digital Shift
By Steve Adams | Banker & Tradesman Staff
By Diane McLaughlin | Banker & Tradesman Staff
Ferry and Bus Upgrades Community Banks Look to Future Tied to Marine Park Growth as Branches’ Role Evolves
Commercial Real Estate PAGE 7
Banking & Lending PAGE 9