National Development has received approval from the Boston Planning & Development Agency for its plans to construct a 14-story, 150-unit co-living complex at Herald and Albany streets in the South End. The focus will be on small living spaces that are complemented by social amenities geared towards younger residents. Read more at Curbed Boston.
As part of a larger strategy for nationwide expansion, Pittsburgh-based PNC Financial Services Group announced it will expand its banking operations in Boston by targeting midsize and large companies starting next year. The bank also announced plans to expand in Phoenix in 2019. Read more at the Boston Business Journal.
Boston-based Biofire is developing a handgun that can only be fired by its owner by using a fingerprint sensor. With an initial round of investments, founder Kai Kloepfer was selected for the MassChallenge startup accelerator and dropped out of MIT to work on the prototype full-time. Read more at The Boston Herald.
The U.S. Department of Commerce found that retail sales increased 0.5 percent in June, following a 1.3 percent increase in May. Overall, retails sales are increasing at the fast rate in five years. Read more at Boston.com.
An analysis from digital marketplace research firm eMarketer found that Amazon currently controls almost 5 percent of all the country’s retail sales, both online and off. And, the firm predicts that the company will get nearly 50 percent of all ecommerce sales this year, generating $258 billion in sales. Read more at the New York Business Journal.