Worcester Economy Catching Up
Worcester Economy Catching Up A recent article from the Worcester Business Journal is highlighting the bounce back in the Greater Worcester Economy, stating that it "appears to finally be outperforming its national and New England peers in key areas." For example, "Per-capita income growth, too – a measure of how much wealth is flowing into the region and a sign of how many consumer-facing establishments like restaurants and retail the community can [...]
Can Worcester Stay Unique Amidst Growth?
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 [...]
Rental Unit Funding
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 [...]
National Rental Demand
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 [...]
Worcester Redevelopment Projects
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." [...]