While the homebuilding industry was nursing its wounds during the depths of the Great Recession, several factors were working to create challenges that industry insiders say will likely prevent the Massachusetts market from fully rebounding, even as inventory shrinks and prices rise.
Foreclosure petitions in Massachusetts, the first stage in the foreclosure process, continued their decline in May, plummeting 86 percent to 248, compared with 1,779 a year ago, according to The Warren Group.
In announcing a “substantial completion” of its $100-million rail yard project, CSX Corp. has followed through with its commitment to contribute to a neighborhood improvement fund, giving Worcester $5 million, according to City Manager Michael O'Brien.
Business tenants looking for commercial office space often look to MetroWest as an affordable alternative to Boston that's still highly accessible and close to all the right amenities.
The state's uniform commercial code, a set of acts governing commercial transactions in Massachusetts, would be updated under legislation unanimously approved by the House Wednesday.
Worcester is one of six cities and towns to benefit from the release of $9.3 million in state affordable housing loans, with the planned Voke Loft apartments across from Worcester Polytechnic Institute's Gateway Park selected to receive $2 million for construction.