Real gross domestic product in Massachusetts grew at an estimated annualized rate of 5.4 percent in the second-quarter of 2015, according to figures released this week by MassBenchmarks.
By Sharon O’Malley | constructiondive.com | July 15, 2015 Dive Brief: A Boston law requiring developers to make room for moderate-income residents in new condominium and apartment buildings “does virtually nothing to solve the housing crisis,” according to Northeastern University. So Boston Mayor Marty Walsh is reconsidering a city policy that sets aside 13% of […]
The agency charged with overseeing the real estate boom coursing through Boston is a dysfunctional bureaucracy, its system for reviewing projects erratic, with just a few powerful staffers deciding how new buildings will look using “unwritten rules,” according to a highly critical audit being released by City Hall Thursday.
The Boston policy requiring developers to accommodate lower-income residents in even the most expensive buildings is being scrutinized as cities struggle to provide affordable housing. Helping affordable-housing lottery winners live in swanky digs limits the construction of properties elsewhere that can accommodate more people, said Barry Bluestone, an economist and founding director of Northeastern University’s Dukakis Center for Urban and Regional Policy. “It’s a nice gesture but it does virtually nothing to solve the housing crisis,” said Dr. Bluestone. “There are a lot of areas where it would be cheaper to build middle-income housing.”