The Central Sq. Business Association was founded in 1933, in the midst of the Great Depression, to enable the local merchants to better combat the adverse effects of financial conditions at the time. The small group of founders soon grew into a fairly large organization with the hope that as a unified group, they would be able to overcome many challenges growing from the Great Depression. To a very substantial degree they were successful.
By the early 1960s, some of the enthusiasm and life of the original group had diminished, and, although the association still existed, it was not as active as previously. A move to locate a major expressway through Central Sq. at that time unified residents and the local business community against it, as it would have largely destroyed both entities. The measure was defeated, largely by joint cooperation.
In 1963, Putnam Furniture Leasing Co., Inc. moved from Putnam Sq. to Central Sq. The president, Carl Barron, soon became extremely interested in Central Sq., partially because it was a challenge, and partially because he owned his place of business there. He was elected president of the business association in 1965 and has continued as president to the present day, a total of 43 years.
During that time, the square has changed from its run-down appearance, 53% of all storefronts being devoted to liquor establishments, to a vibrant retail/office usage. New parking facilities have been built by the city. A joint committee, consisting of 9 community members and 9 business people worked with the city and was granted approximately $4.5 million for street improvements with absolutely no delay upon the request being made.
The Central Sq. Business Assn. is one of the most active business associations in the city. It has established excellent relationships with city officials, neighborhood residents, and even to other cities and state officials.
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
Long-term interest rates have fallen by 100 basis points, and the market is normalizing. In December of 2022 I wrote an article about investing in a high interest rate, high inflation market. Since then, inflation has cooled off, and the Fed has begun lowering their funds rate.
The industrial markets have never been stronger. What has happened is that the build out of Devens with new high-tech biotech manufacturing with housing to service these buildings serves as the connector required to really make the I-495 West market sizzle. Worcester has been the beneficiary