Property Management Blog

1408, 2019

Can Worcester Stay Unique Amidst Growth?

By |August 14th, 2019|

Worcester Development Going Into "Overdrive" WGBH brought up an an interesting topic this week with a recent article written by Aaron Schachter. Schachter highlights the issues that can sometimes arise with keeping a city unique when "development has gone into overdrive." Worcester certainly falls into this category, with rentals, development, and real estate growth reaching tremendous levels over the last year. According to the article, Worcester City Manager "Ed Augustus said he [...]

3107, 2019

Rental Unit Funding

By |July 31st, 2019|

Worcester Area Rental Unit Funding The Worcester Business Journal is reporting that four central Massachusetts cities will be receiving significant government funding as part of "$80 million in government funding and $40 million in tax credits" to "preserve and produce nearly 1,600 housing rental units in Massachusetts." The four cities located in Central Massachusetts include: Fitchburg, Lunenburg, Southbridge, and Worcester. The majority of the funding and credits will go to affordable units [...]

2607, 2019

National Rental Demand

By |July 26th, 2019|

National Rental Demand Soars CNBC is reporting that the national "apartment demand in the second quarter of this year spiked 11% from a year ago." This in turn has pushed rents up "an average 3% nationally" according to RealPage, a real estate software and analytics company. The article goes on to highlight that rental demand is perhaps partially driven by "solid economic growth...encouraging new household formation." One interesting concept from the report [...]

2806, 2019

Worcester Redevelopment Projects

By |June 28th, 2019|

Worcester Redevelopment & Investment News The Worcester Business Journal is reporting that "the Worcester County Courthouse, the Lincoln Square Boys Club and the Worcester Memorial Auditorium – are either underway on a development project or slated for a rehabilitation in the coming months and years." The article goes on to state that Worcester City Manager, Edward Augustus hopes the project will add to "the walkability and fluidness at the intersection of these neighborhoods." [...]

2506, 2019

Worcester Multi Family Market Trends

By |June 25th, 2019|

Worcester Multi Family Property Growth The multi family market in Worcester is experiencing rapid growth, according to The Telegram & Gazette.  "Median prices of two- and three-family homes in Worcester County, a large component of multifamily properties, have gone up..." leading to a 38% five year increase in two-families and 58% increase in three-families.  According to the article, areas with strong increases included Worcester, Southbridge, Fitchburg, and even Leominster. Property managers have seen [...]

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