Tag Archives: NAIOP Massachusetts

New Construction for Greater Boston?

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At the recent NAIOP/SIOR Annual Market Forecast, there was talk about the possibilities of speculative commercial development in Boston.  There was a consensus that we will continue to see new construction in the suburbs, Cambridge and Boston due to falling CONSTRUCTION_BLOGvacancies, raising rents, building obsolescence, and limited blocks of space available for large users.

The key stumbling block is whether tenants will pay a premium price over the rents available with existing vacant spaces (especially in areas where rents have not grown as quickly, like Boston’s Financial district.) The new buildings will have the greatest challenges in holding down rents due to the rapid rise in construction costs (with Boston having one the highest union labor wages.)

It is said that “time is money”, so a possible solution is to accelerate the speed of construction. Take a look at the following YouTube video of a 30-story tall hotel built in 360 hours (complete with room furnishings!)

Support One Fund, Support Boston

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OneFund
All of us at NAIOP Massachusetts are saddened by the tragic events that occurred at the Boston Marathon on April 15. Times like these make us realize that Boston is basically a small town – it seems like we are all either connected directly, or by one degree of separation, from someone hurt in Monday’s explosions.

Governor Patrick and Mayor Menino announced the creation of One Fund Boston, which was established to provide assistance to those who were directly impacted by the tragedy. The local business community, including several NAIOP members, immediately stepped up to support the fund. We encourage the commercial real estate industry to show its support. To learn more, or to make a contribution, visit http://onefundboston.org.

In addition, we’ve learned that Roseann Sdoia of National Development, a NAIOP Gavel Firm, was severely injured in the explosions. Her friend set up Roseann’s Recovery Fund, where you can donate towards her treatment and recovery expenses. Our thoughts are with Roseann and the many other victims hurt by this tragedy.

NAIOP Raises $151,500 for Heading Home

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This post was submitted by Marc Margulies, principal at Margulies Perruzzi Architects and president of Heading Home’s Board of Directors

On June 6th, NAIOP Massachusetts held its 24th Annual Charitable Golf Tournament to benefit Heading Home, raising $151,500 to support programs to end homelessness in Greater Boston. This record-breaking sum is the largest in the tournament’s history, bringing the total donated to Heading Home to more than $1.85 million. The commercial real estate community should be proud
that its steadfast commitment to Heading Home reaps real rewards for homeless families.

In 2011, Heading Home helped more than 2,000 homeless people in Greater Boston by providing them a place to call home and opportunities for self-sufficiency. Two-hundred and fifty units of housing have been created since 2006, with 61 new units created in the past year alone.  More than 400 volunteers annually commit their time and energy to Heading Home, and the commercial real estate community provides a large number of those volunteers. The monies raised by NAIOP will continue to support Heading Home’s programs to end homelessness locally.

Andrew Hoar, president of CB Richard Ellis/New England and chair of the 2012 NAIOP Massachusetts Charitable Events Committee, led the effort to make this record-breaking donation possible. Andy has been on the Heading Home Board of Directors since 2007, and he, his wife, and his firm are longtime contributors to the organization. Andy’s efforts this year hit the fundraising goals out of the park!

Another ardent Heading Home supporter who deserves special recognition is NAIOP Massachusetts CEO, David Begelfer. David has been actively involved in the struggle to end homelessness for more than 24 years, and started the annual NAIOP golf tournament to support Heading Home. In 2010, David received the Bob Ray Partnership Award from the Massachusetts Housing and Shelter Alliance for his commitment to ending homelessness. His support of Heading Home, including serving on the organization’s Advisory Council, has been unwavering through the years.

Since the first NAIOP Golf Tournament that raised $5,000 for Heading Home, the commercial real estate industry has continued to come together to show support for homeless families and individuals. Thank you to NAIOP’s member volunteers, staff, and generous donors who helped to raise this record-breaking donation for Heading Home. It is only through their support that the tournament is able to raise funds needed to help Heading Home accomplish its goal of ending family homelessness.

View pictures from the event.