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: Franklin Spotlight: Shelburne
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Art galleries, Bocce courts and farm-to-table restaurants serving up produce grown on-site: Not the amenity list at a Millennial-focused apartment complex but features at recent developments by Benchmark Senior Living, led by CEO Tom Grape.
IN PERSON
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WEEK OF MONDAY, AUGUST 1, 2022
RESIDENTIAL REAL ESTATE BY THE NUMBERS
MIXED SIGNALS
79 percent The average loan-to-value ratio in Greater Boston. See Week on the Web on page 2. Source: Redfin
12 percent The share of downtown Boston office buildings suitable for residential conversion. See Steve Adams’ story on page 7. Source: Gensler
5,000 square feet The minimum lot size for an ADU conversion under a proposed law. See Week on the Web on page 2. Source: Abundant Housing MA
1955 Boston’s first multiple listing service was established in 1955. See This Month in History on page 9. Source: GBREB
900 square feet The maximum size of an ADU conversion under a proposed law. See Week on the Web on page 2. Source: Abundant Housing MA
$500,000 The total value of properties listed on Boston’s first MLS in its first four months. See This Month in History on page 9. Source: Boston Globe
98 Redfin analyzed 98 U.S. metros for their likelihood of a housing crash. See Week on the Web on page 2. Source: Redfin
$13,764 The average sale price of the first 157 homes listed on Boston’s first MLS. See This Month in History on page 9. Source: Boston Globe
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.
BUSINESS LENDING IS STILL GOOD BUSINESS
Q2 Brings Loan Growth for Mass. Banks in an Uncertain Economy BY DIANE MCLAUGHLIN BANKER & TRADESMAN STAFF
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espite persistently high inflation and dramatic jumps in interest rates, local lenders have reported strong loan growth during the
second quarter. Recent studies suggest that many business leaders remain optimistic about their
companies’ growth potential. While businesses continue to seek out loans, the rapid pace of changing economic conditions has added to the challenges prospective borrowers face. “Most people in businesses don’t like when there’s a lot of uncertainty,” said Brian Bullock, executive vice president and chief commercial lending officer at Lowellbased Enterprise Bank. “It causes people to pause for a minute and say, ‘What does this mean? Should I buy that piece of equipment? Should I buy that property?’” Business activity both nationwide and
in Massachusetts remained healthy in the second quarter despite declining compared to previous quarters, Citizens Bank found in its second quarter Citizens Business Conditions Index.
Firms Upbeat About Prospects
“We are seeing several cross currents in the environment,” Eric Merlis, managing director of Global Markets at Citizens, said in a statement announcing the results. “Concern levels are high, but individual outlooks are still good.”
Continued on Page 9
COMMERCIAL INTERESTS
MEDS VERSUS BEDS
Speakers at Public Meetings Told to Avoid Arguing Against Plan
As Vacancies Rise, Housing Conversions Enter the Picture
By Scott Van Voorhis | Banker & Tradesman Columnist
By Steve Adams | Banker & Tradesman Staff
Is Wu’s Rent Control Panel Decision Time for Actually Listening? Office Landlords
Commercial Real Estate PAGE 3
Commercial Real Estate PAGE 7