Banker & Tradesman: Aug. 8, 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: Hampden Spotlight: Russell

IN PERSON

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After 27 years working with community financial institutions at technology provider COCC, Marco Bernasconi wanted to take the skills he had developed over the years and get back into community banking. Bernasconi had started his career at Chelsea Groton Bank in Connecticut.

WEEK OF MONDAY, AUGUST 8, 2022

BANKING & LENDING BY THE NUMBERS

WHO’S IN CHARGE?

22 percent Applications to start businesses are up 22 percent since before the pandemic. See Diane McLaughlin’s story on page 9. Source: Census Bureau

10 10 cooperative banks opened their doors in Massachusetts in 1877. See This Month in History on page 9. Source: Public record

65 percent Demand for entrepreneurship education is up 65 percent by one measure. See Diane McLaughlin’s story on page 9. Source: Mass. Small Business Development Center

27 years

THE OTHER BARRIER TO DEVELOPMENT

Marco Bernasconi spent 27 years at COCC before moving to a community bank. See In Person on page 8. Source: Marco Bernasconi

The amount Santander has invested in a training program for restauranteurs. See Diane McLaughlin’s story on page 9. Source: Santander

Professional Planning Matters in Shaping Suburban Growth BY STEVE ADAMS BANKER & TRADESMAN STAFF

2 Only two of the state’s first cooperative banks remain in operation. See This Month in History on page 9. Source: Public record

$5,000 Participants in HarborOne U can apply for a $5,000 commercial line of credit. See Diane McLaughlin’s story on page 9. Source: HarborOne Bank

$500 million North Brookfield Savings Bank wants to grow its assets by up to $500 million in five years. See In Person on page 8. Source: Marco Bernasconi

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.

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ultifamily housing and largescale commercial projects frequently generate controversy and opposition in Boston suburbs, but real estate developers say many of the biggest impediments start with understaffed and fragmented town hall bureaucracies. Nonprofit community development corporations and smaller private devel-

opers alike say they face steeper hurdles getting projects completed in communities with small staffs, or avoid doing business in them entirely. “CDCs certainly depend upon effective, well-run municipal government to get their projects done,” said Joe Kriesberg, president of the Massachusetts Association of Community Development Corporations. “You can engage with fulltime professional planning staff so the process runs more smoothly and more predictably. And if the answer is ‘no,’ you can know that sooner in the process.” In Hudson, legwork by professional planning staff has been critical to progress on a housing conversion of a former

police station, said Caitlin Madden, executive director of Newton-based Metro West Collaborative. Following a request for proposals, Hudson officials selected Metro West Collaborative to redevelop a former police station as 40 affordable units. The project quickly acquired its zoning approvals and is now seeking affordable housing tax credits from state officials. “The town did a lot of groundwork to generate support for affordable housing at that specific site. The town planning staff really helped shepherd the project through and made sure we were talking to the right people,” Madden said. Continued on Page 7

COMMERCIAL INTERESTS

S TA R T U P S U R G E

Sector Headed for Shakeout Period with 26M SF of Projects Shaky

Classes for Business Owners Help Lenders Land Customers

By Scott Van Voorhis | Banker & Tradesman Columnist

By Diane McLaughlin | Banker & Tradesman Staff

Image courtesy of Gensler

$1.6 million

Will Crash or Slowdown Banks Respond to Equity Concerns with Follow Boston’s Lab Boom? Financial Education for New Entrepreneurs

Commercial Real Estate PAGE 3

Banking & Lending PAGE 9


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