Banker & Tradesman: July 1, 2019

Page 1

ORDER TODAY AND SAVE

MONTHLY TRANSFER DIRECTORY REPORTS

Call 617.896.5388 or email datasolutions@thewarrengroup.com

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

PAGE 6

County close-up: Worcester Spotlight: Hubbardston

Bryan Northrop was promoted to general manager of Skanska building operations for the New England region in May. A Skanska employee for his entire career, Northrop’s experience includes such notable projects as the relocation of Dana-Farber Cancer Institute’s cell manipulation facility and the expansion of the Novartis campus in Cambridge.

IN PERSON

PAGE 8

WEEK OF MONDAY, JULY 1, 2019

RESIDENTIAL REAL ESTATE BY THE NUMBERS

UNDERBANKED OUTREACH

BOSTON, WORCESTER BANK ON FINANCIAL EMPOWERMENT

3,650 square feet The size of the home given to the winner of HGTV’s Dream Home Giveaway. See Lew Sichelman’s column on page 4. Source: HGTV

$400,500 The median statewide condo sale price in May, a new record. See Week on the Web on page 2. Source: The Warren Group’s Statistics Module

1,497 The number of housing units in Hubbardston. See By the Numbers on page 6. Source: U.S. Census Bureau

$6.99 billion The year to date volume of single-family purchase mortgages statewide. See Week on the Web on page 2. Source: The Warren Group’s Marketshare Module

By working with nonprofits active in the city’s lowerincome neighborhoods, Bank On Worcester County hopes to break down some residents’ mistrust of the banking system, which locks them out of economic opportunities.

$9.75 million The price of the most expensive home in this week’s Gossip Report. See page 9. Source: The Warren Group

4.1 percent The year-over-year increase in the statewide median home sale price. See Week on the Web on page 2. Source: The Warren Group’s Statistics Module

$274,450 The median single-family sale price in Worcester County. See By the Numbers on page 6. Source: The Warren Group’s Statistics Module

6.93 acres The largest lot size of a home in this week’s Gossip Report. See page 9. 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.

New Accounts Offer Easier Access to Traditional Banking BY BRAM BERKOWITZ BANKER & TRADESMAN STAFF

O

ne third of Bostonians live outside the traditional financial system, cutting them off from crucial financial tools like credit cards and savings

accounts and helping to lock them out of economic mobility. To combat this Boston and Worcester, where numbers are similar, are partnering with financial institutions to offer checking accounts that are easier to access. While still in its formative stages, the goal of the Bank On program is to convince people from lower-income communities that are using no financial services or alternative services like check cashers to convert to traditional banking accounts.

“We are still learning,” said Charla Hixon, who runs the Bank On Worcester County program. “I certainly think people trusting the banks is an issue. We are often working with immigrant communities who are coming from countries where there just isn’t that strong reputation of banks and the government in their countries of origin, so it’s like learning something new once they’re here in the States.” Continued on Page 9

COMMERCIAL INTERESTS

RAMPING UP

Casino, Red Sox Deals Show New Faces Sometimes Needed to Shake Things Up

Multifamily Construction Boom Drives Distribution Space Demand

By Scott Van Voorhis | Banker & Tradesman Columnist

By Steve Adams | Banker & Tradesman Staff

Outsiders Beat Local Boys Spec Industrial Pipeline and Boston Won Big Responds to Market Changes

Commercial Real Estate PAGE 3

Commercial Real Estate PAGE 7


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.