Banker & Tradesman: June 6, 2022

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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: Plymouth Spotlight: Brockton

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Can Boston beat climate change with steam power? Vicinity Energy’s Jackie Bliss argues that the company’s network of steam pipes will provide the perfect way to decarbonize downtown commercial buildings.

OPINION

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WEEK OF MONDAY, JUNE 6, 2022

ARTS AND AFFORDABILITY

37,304

CHANNELSIDE PRESSED FOR

The number of housing units in Brockton. See the Town Spotlight in By the Numbers on page 6. Source: Census Bureau

13.2 percent

CULTURAL ANCHOR

Purchase mortgage applications dropped 13.2 percent month-overmonth. See Week on the Web on page 2. Source: Mortgage Bankers Association

$417,450 The median single-family sale price in Brockton. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

IN FORT POINT

3.1 percent Purchase mortgage applications dropped 3.1 percent week-overweek. See Week on the Web on page 2. Source: Mortgage Bankers Association

1,397 The number of homes sold in Plymouth County so far this year. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

$510,000 The median single-family sale price in Plymouth County. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

$3.2 million The most expensive recent singlefamily sale in Plymouth County so far this year. See By the Numbers on page 6. Source: The Warren Group

10 percent The growth in the number of singlefamily sales in Hingham. See By the Numbers on page 6. 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.

Developer Asked for More Live-Work Housing BY STEVE ADAMS BANKER & TRADESMAN STAFF

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emnants of Fort Point’s arts community survive in a trio of artists’ co-op loft buildings that contrast with the high-rise luxury towers on the South Boston waterfront. As cultural venues throughout Boston are threatened by redevelopment into higher-income uses, community and cultural advocates want developer Related Beal’s 1.1 million-square-foot Channelside development to become a

model for slowing artist displacement. “What the developer would have happen is more of a repeat of the Seaport District,” said Domingo-Martin Barrers, president of the 249 A St. Artists’ Cooperative board. “The Seaport District has its benefits, but we already have one of those.” Related Beal bought the Gillette Co. parking lot on A Street in 2019 for $218 million. Its development proposal has been in permitting through three Boston mayoral administrations, and seeks approval for three buildings containing office, labs and 340 apartments on the 6.5acre site bordering Fort Point Channel. Members of the project’s impact advisory group that advises the Boston Planning & Development Agency say they’re

awaiting word on whether Channelside will come up for a vote this spring, or if Related Beal will sweeten the community benefits package. Many of the comments have focused on appropriate levels of affordable and artist housing, under a new mayoral administration that has stated commitments to both priorities.

Arts Chief Not Satisfied with Housing Plan

Related Beal already has made some changes to the proposed residential building by increasing the income-restricted component from 13 to 17.5 percent in January, and creating a dedicated second floor containing 25 units of artist housing. Continued on Page 7

COMMERCIAL INTERESTS

VA L U E - A D D S

Two Lawsuits Show Traditional Insider Politics Still Hold Sway

Brookline Bancorp Now Seen as Unlikely to Sell

By Scott Van Voorhis | Banker & Tradesman Columnist

By Diane McLaughlin | Banker & Tradesman Staff

Photo courtesy of the 249 A St. Artists Cooperative

RESIDENTIAL REAL ESTATE BY THE NUMBERS

Meet the New Boston, Rapid-Fire Mergers Give Same as the Old Boston Boosts to Growing Lenders

Commercial Real Estate PAGE 3

Banking & Lending PAGE 8


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