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The moratorium was imposed on Wednesday and is in effect until further notice. The action by Cambridge comes a day after Boston Mayor Martin Walsh instituted a construction ban in the City of Boston. To date, Massachusetts Gov. Charlie Baker has not called for a construction work stoppage statewide.
New projects cannot be started at this time unless it meets certain criteria. Any currently permitted and active construction project must be in a secure situation by Monday, March 23.
The CBRE report states that life science companies occupy approximately 30 million square feet of lab space in Greater Boston with more than 4 million square feet of space in the development pipeline.
This bill includes $50 million towards the construction of new affordable housing, including units for low- and extremely-low income residents, and housing near transit hubs.
Burton currently serves as the director of operations for real estate development firm New Boston Ventures. She has served in that role for more than four years.
The portfolio consists of more than 1.9 million square feet of space across 11 of the 19 Chicago submarkets. Capital One provided the debt financing for the acquisition. Venture One will continue to manage the portfolio.
In its updated 2020 Business Climate Analysis, the NJBIA report states that New Jersey has the least competitive business climate, with the highest corporate tax, state sales tax, income tax and property taxes in the region when compared to Massachusetts, Connecticut, New York, Pennsylvania, Maryland and Delaware.