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THE FINANCIAL SERVICES AND REAL ESTATE WEEKLY FOR MASSACHUSETTS BY THE NUMBERS
PAGE 6
County close-up: Hampden Spotlight: Brimfield
IN PERSON
PAGE 8
Michael Fallon was appointed president of The Fallon Co., just last month, but the 30-year-old real estate executive is already thinking about the long-term legacy of the Boston-based development company founded by his father Joseph in 1993.
WEEK OF MONDAY, MAY 20, 2019
RESIDENTIAL REAL ESTATE BY THE NUMBERS
100 PERCENT SOLUTION
1 to 3 percent The average commission paid by European homebuyers. See Ken Harney’s column on page 4. Source: The Home Owners Alliance
CAMBRIDGE THINKS BIG ABOUT HOUSING PRODUCTION
$8.5 million The price of the most expensive home in this week’s Gossip Report. See page 9. Source: The Warren Group
$1.9 million
City Seeks to Spread Affordability with Rezoning
The most expensive recent sale in Hampden County. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
BY STEVE ADAMS BANKER & TRADESMAN STAFF
C
$250,000
ambridge is considering a bold step designed to boost its affordable housing inventory: allow developers to build taller buildings anywhere in the city if they agree to build only 100 percent income-restricted units. Citing a rapidly worsening affordability crisis, housing activists are lobbying for city-
The median sale price so far this year in Brimfield. See Week on the Web on page 6. Source: The Warren Group’s Statistics Module
12,000 The number of people who live in Downtown Crossing now. See Scott Van Voorhis’ column on page 10. Source: City of Boston
wide rezoning that would clear the way for as-of-right approvals for such projects. “There is a strong sentiment in Cambridge that wants to build affordable housing, but there’s also opposition to density and construction and traffic,” said Joseph Kriesberg, president of the Massachusetts Association of Community Development Corporations. continued on page 7
1,161
Cambridge has proposed a citywide zoning overlay that would let affordable housing projects build taller and denser than their surroundings in most neighborhoods.
The number of homes sold as of April 30 in Hampden County. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module
8,815 square feet The size of the largest home in this week’s Gossip Report. See page 9. Source: The Warren Group
$1.6 million The median home price in Cambridge, hobbling efforts to build affordable housing in residential neighborhoods. See Steve Adams’ story on this page. Source: The Warren Group’s Statistics Module
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.
SMALL BUSINESS LENDING
MOVING PIECES
Program is Seen as Growth Opportunity for Bank
New Plan, Projects Could Transform Once-Sterile Area
By Bram Berkowitz | Banker & Tradesman Staff
By Scott Van Voorhis | Banker & Tradesman Columnist
Needham Bank Partnership City, Developers Want to Aims to Draw New Customers Liven Up Downtown Boston
Banking & Lending PAGE 9
Commercial Real Estate PAGE 10