Boston 2010 Real Estate News

Boston Property News

Tuesday, November 25, 2008

Longwood Center work halts as economy makes prospective tenants leery

Construction has stopped on a $300 million biotechnology laboratory in the Longwood Medical Area as the city's medical sector, which previously seemed insulated from the nation's economic problems, begins to feel the effects of the worsening downturn.


National Development and Alexandria Real Estate Equities Inc. said they are halting work on the 1-acre site on Brookline and Longwood avenues because they have been unable to secure leases from tenants.

Executives with the companies said the project, known as Longwood Center, will remain on hold at least until spring.

Meanwhile, Brigham and Women's Hospital said yesterday it is delaying plans to renovate its patients tower and may scale back the project as tightening finances begin to restrict what has been a prolonged building boom in the Longwood area.

Tuesday, November 11, 2008

Slow market or not, those 'for sale' signs simply won't do

That's the message from Boston officials, who say a rise in complaints regarding "For Sale" signs violating the guidelines outlined by the Back Bay Architectural Commission, which reviews proposed exterior changes to local buildings, represents the latest advertising issue in a neighborhood known for strict regulations on signage.

"The issue isn't that there should not be signs, the issue is how big the signs are and how long they should be out there," said state Representative Marty Walz, a Democrat from the Back Bay, adding that she approached the city last month after receiving nearly a dozen complaints about the signs over the past year and a half. "The city should enforce the laws regarding the signs."

Greg Vasil, chief executive of the Greater Boston Real Estate Board, which has been working with city officials to raise awareness of the guidelines with local real estate brokers, said it's likely people are more sensitive about the signs because "the properties have been on the market a little bit longer, whereas it wasn't that long ago that the suburbs were slowing down and