News: Spotlights

Central Sq. Business Assn. Carl Barron

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.
MORE FROM Spotlights
Spotlights

The New England Real Estate Journal presents the First Annual Project of the Year Award! Vote today!

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!
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
CRE market continues to navigate and adjust - by Kristie Russell

CRE market continues to navigate and adjust - by Kristie Russell

The New Hampshire commercial real estate landscape has experienced notable fluctuations in recent years. Within the office sector, there has been a consistent uptick in available space since 2020, attributed to a wave of companies downsizing or closing their New Hampshire operations. However,
The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

The 2024 CRE markets: “The Ups” (industrial) and “The Downs” (Boston class B/C office) - by Webster Collins

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
Navigating conversations and industrial real estate: Unveiling the intricacies with a dash of dad jokes - by David Skinner

Navigating conversations and industrial real estate: Unveiling the intricacies with a dash of dad jokes - by David Skinner

Here are a few of my favorite topics of conversation: politics, religion, money, and relationships. Other than a below average level of social capability, why do you suppose that those are some of my favorite conversation pieces? Well, I believe that there is a fascinating truth hidden within these realms
Risk-based capital requirements: Impact of rules on commercial real estate loans - by Michael Chase

Risk-based capital requirements: Impact of rules on commercial real estate loans - by Michael Chase

Two popular sources of commercial real estate financing are banks and insurance companies. According to the Mortgage Bankers Association, banks and insurance companies combined hold 54% of the nearly $4.7 trillion in outstanding commercial mortgages as of the end of 2023. Both of these lender groups are subject to regulations