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June 20, 2023

This Week's Boston Deal Sheet

New Digital Summit: National Senior Housing Aug. 30

Mayor Michelle Wu attended the groundbreaking ceremony Friday for the first phase of the largest public housing redevelopment in Boston's history.

This Week's Boston Deal Sheet

The $1.4B Bunker Hill Housing Redevelopment in Charlestown is expected to be a 2,699-unit mixed-income housing community, with 37% of the units income-restricted, according to a press release. The project is redeveloping a 1,110-unit public housing community.The housing complex that stands today was built in 1940 and served as federal public housing. The 42-building…

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Top Stories on Bisnow.com

Avison Young's Top U.S. Exec Departs, New President Named Avison Young's Top U.S. Exec Departs, New President Named
Brookfield, Ontario Pension Fund To Acquire Compass Datacenters Brookfield, Ontario Pension Fund To Acquire Compass Datacenters
Value Of PIMCO's 3M SF Office Portfolio Cut 30% Value Of PIMCO's 3M SF Office Portfolio Cut 30%
Housing Starts Up Nearly 22% In May, Signaling Possible Relief For Beleaguered Developers Housing Starts Up Nearly 22% In May, Signaling Possible Relief For Beleaguered Developers
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Tishman Speyer Secures $750M In Construction Financing For Harvard Research Campus

Tishman Speyer Secures $750M In Construction Financing For Harvard Research Campus

Tishman Speyer landed a huge construction financing deal for the first phase of the Harvard Enterprise Research Campus in Allston. The developer announced Friday afternoon it secured a $750M financing package led by Otera Capital, a Montreal-based institutional lender. Tishman said this marks the largest reported deal in the U.S. this year.Construction for the first phase is…

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Construction Lawsuits Are Spiking As Pressure Rises To Accelerate Projects

Construction Lawsuits Are Spiking As Pressure Rises To Accelerate Projects  

Construction contracts are landing in court more often — and at higher dollar figures — than ever before, as runaway costs and pressure to build faster have led to a spike in disputes.

The average value of construction disputes in North American courts was $42.8M at the end of 2022, up from $30.1M the prior year, the highest value ever recorded and double the averages between 2016 and 2019, according to a study released by the engineering consulting firm Arcadis.

The number of lawsuits over construction projects also is expected to accelerate this year, according to Arcadis, which surveyed more than 500 construction, real estate and legal professionals.

The jump in disputed amounts is part of a larger maelstrom directly related to the coronavirus pandemic, said Eric Schatz, vice president at Arcadis and one of the authors of the firm’s 13th annual construction dispute report. As construction projects have grown in size and complexity, the window for disputes to…

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Big Tech Tenants Blocking Key Reductions To Data Center Energy Use, Experts Say

Big Tech Tenants Blocking Key Reductions To Data Center Energy Use, Experts Say  

The world’s largest tech companies have ambitious sustainability goals, but experts say hyperscalers' leasing teams are standing in the way of measures that would reduce the amount of energy many of their data centers consume. 

Tech giants like Amazon, Google, Microsoft and Meta tend to be at the front of the pack when it comes to corporate efforts to reduce carbon emissions and pursue sustainability targets. This has extended to their massive portfolios of owned and leased data centers,…

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