Thomas Grillo
Real Estate Editor- Boston Business Journal
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A summary of personnel moves, events, accomplishments and awards in Greater Boston’s real estate community.
Preservation of Affordable Housing’s acquisition of an 841-unit affordable housing portfolio in Massachusetts captured the top prize in Affordable Housing Finance magazine’s 2013 Readers’ Choice Awards for the nation’s best developments. AHF makes the awards to projects they deem “shining developments that were selected on several key characteristics, including adding to the affordable housing stock, community revitalization, creative problem-solving, outstanding social services, and cost-effective and innovative design and construction.” The portfolio includes six properties comprising 841 apartments that house seniors and low- and moderate-income families ‑ 537 apartments in three Boston locations, 208 units on Cape Cod and 96 units in Hudson. The portfolio purchase, which used tax exempt bonds as well as federal and state low income housing tax credits, constituted one of the largest affordable housing preservation transactions ever supported by the Commonwealth of Massachusetts and MassHousing.
Jones Lang LaSalle’s Rosemary Feenan, Frank Petz, William Barrack, and Lori Mabardi explored issues that will shape Boston’s future on the global stage at company’s event “Real Answers on Boston’s Future” this week at the Institute of Contemporary Art. Feenan said by 2030, Boston will be competing for the $30 trillion dollars of real estate investment she estimates will be available by 2030. Petz said growth across all sectors has led to vacancy rates that below 10 percent in the downtown and Boston is poised at the forefront of the urbanization trend.
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