North Shore Realty Advisors Inc. has completed the recent sale of 146 Nichols St. This asset is a 3-story blonde brick consisting of thirteen (13) residential units with a matrix of two (2) four-bedrooms, three (3) three-bedrooms, and eight (8) two-bedrooms.
Continue reading “Pouladians of North Shore Realty Advisors Inc. Sells 146 Nichols St. for 4.625 million”By Josh Resnek
The Davis Companies has taken a serious stake in the future of this city after purchasing last week the 100 acre Exxon Mobil site.
The price: $72.5 million – with at least another $100 million needed to remediate the polluted land used for oil storage for the past 100 years.
An effort by the prominent Boston development company to purchase the property in 2022 failed.
The effort then was to create a multi-million square foot, mixed use project at the site, ostensibly starting with development of hundreds of apartments near Route 16.
Redeveloping this site is crucial to continuing the development and redevelopment of former polluted industrial sites here.
In recent years, many thousands of new market rate apartment housing units have been built where polluted industrial sites existed for decades.
The tank farm is a sprawling property running from Route 16 to the Mystic River waterfront. It has been used for nearly 100 years for petroleum storage and shipping and is covered with railroad tracks and huge fuel tanks.
The environmental clean-up could take as long as four years, according to statements from Global Partners of Waltham who has teamed up with Davis Companies for cleanup and development.
Continue reading “Davis Companies buys Exxon Mobil property”By Josh Resnek
The New England Revolution, the Kraft Family and the city of Everett will have to wait for a while longer before anything is resolved with regard to a soccer stadium coming to Everett across the street from the Encore Boston Harbor Hotel and Casino.
The soccer stadium gambit seemed to be rushing along nicely until last Thursday, when the state legislature got spooked by criticism of the deal and dropped it from the year end budget bill claiming it wasn’t the right place for such a discussion.
Aaron Michlewitz, the House Ways and Means chairman who played a central role in the compromise budget deal now before the state Legislature said Thursday that he’s not entirely dismissing the idea of a new stadium for the New England Revolution.
He specifically said he was not saying no to the stadium. Rather, he insisted that there remains a great deal to be discussed about the project be- fore it can receive state house approval.
“I think there’s still a lot to be discussed on this. It needs to be fleshed out for us to feel comfortable about it going forward. And in the short period of time this has been discussed, I don’t think we’ve had that full conversation,” the House’s top budget-writer said.
Continue reading “Soccer stadium on ice for now following complaints, scrutiny”
Leader Staff
Some months back when the reconstruction of the above Broadway commercial building began, the Leader Herald photographer snapped a few shots.
The reconstruction included a big addition to the rear of the building, kind of a second building attached to the front as well as a third floor added to the main building.
At the time, we wrote that this was a brilliant rehab and reconstruction of the building, an expansion of the structure that was destined to make this a major space by comparison to what existed before.
In the past week, the entirely new brick façade and the nearly finished exterior of the third floor addition have been revealed.
Continue reading “From ugly duckling to shining example of architectural triumph on Broadway”By Josh Resenk
Several months back the Leader Herald published a story depicting the commercial building shown (right) and complimenting the owners and builders for improving a property and increasing its value.
We thought at first the front building was to be rehabilitated with the exterior given a major aesthetic redoing with larger windows, a dormered third floor addition and brick work replacing cinderblock on the front.
Then came the big surprise.
A rear addition that increases the property’s square footage dramatically and makes of this property a building almost twice its size from the time the rehabilitation began.
From a tax standpoint, this is a bonanza for the city treasury as the property owner will be paying substantially more in taxes for the privilege of owning the building.
However, that increased property tax bill will be leveraged very nicely by the massive increase in income that will be achieved if the owner rents all the new commercial and or living space now being built.
Continue reading “Making a big investment and reaping the benefits on Broadway”