CEO Report Boston
Members of the state House and Senate settled on a $41.9 million annual state budget, which includes a measure that would allow the Massachusetts Department of Revenue to evaluate the state’s business tax break. According to a report from MassBudget in 2016, the state spent over $billion on industry specific tax breaks in 2016. Read more at the Boston Business Journal.
Developer HYM Investment Group announced plans to add a public park component to its redevelopment project of the 16.5 million-square-foot Suffolk Downs racetrack in East Boston. The intention is to create bike baths and walk ways that will connect to the new site. Read more at Curbed Boston.
RESIDENTIAL REAL ESTATE
Two projects were approved by the Boston Planning and Development Agency this week that will bring a total of 786 residential units to the Herald Street corridor. Working alongside, the Chinese Consolidated Benevolent Association of New England and Boston Chinese Evangelical Church, The Davis Cos. will develop a 13-story, 313-unit residential building at 112 Shawmut Ave. And, National Development will construct 7INK, a 14-story property at Ink Block set to include 250 residential units and 327 co-living spaces. Read more at BisNow.
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TAXES The State House has approved an amendment to an economic development bill that would suspend the state’s 6.25 percent sales tax annually on the weekend of Aug. 11-12 starting next year. Earlier this month, Gov. Charlie Baker signed the legislation, which will...read more
RESIDENTIAL REAL ESTATE Woburn-based Joseph Nogueira has proposed a five-story, 55-unit apartment complex on Maverick St. in East Boston that would include 3,100 square feet of retail space, some which would preserve the existing Swish & Swash Laundromat and Maverick...read more
DEVELOPMENT Boston will begin a major overhaul of the City Hall Plaza later this year with an estimated completion in 2024. Plans include seasonal fountain and tree-shaded gathering spots as well as a renovation of the North Side entrance to the building. Read more at...read more