News: Financial Digest

Coastway Bank breaks ground on new office

Coastway Community Bank recently began construction of their inaugural prototype branch office. Designed by Vision 3 Architects of Providence, the new 3,800 s/f branch office located on Comstock Parkway becomes their ninth branch location in the state. E. Turgeon Construction Corp. is the construction manager. Through the use of quality, traditional materials, the architecture is simple, appealing, and tactile. A combination of brick, masonry stone and glass are the predominant skin materials used to create a signature building that is respectful of its neighborhood. The interior building design promotes the institution's brand. The building's use of glass and open plan is a deliberate effort to maintain a highly visible, open and inviting environment and suggests the openness and inviting nature of Coastway Community Bank's commitment to its clients. Founded in 1987, Vision 3 Architects is a nationally recognized architectural and interior design firm based in Rhode Island. Whether planning new construction or adapting for re-use, Vision 3 designs buildings and spaces that are functional and cost-efficient while respecting each project's unique geographic, historical and programmatic context. A dedicated team of professionals develops creative design solutions for many industries, including healthcare, education, hospitality and corporate office. Vision 3 employs environmentally sustainable design practices. This commitment to design excellence and innovation has brought them national recognition and awards. Coastway is a $300 million, full-service financial institution headquartered in Cranston, R.I., with 30,000 members and eight branches. Since 1920, Coastway has delivered state-of-the industry products and services to meet the needs of the communities and businesses it serves. E. Turgeon Construction Corporation has been building commercial, industrial and educational buildings since 1896. The Founder, Evangeliste Turgeon, was joined by his sons, John, Edward, George and Henry in 1931. At that time, the Turgeon firm undertook larger construction projects and many schools, hospitals, public buildings and industrial projects in Southeastern New England were built by this firm. E. Turgeon Construction Corporation has been providing General Construction, Design/Build and Construction Management Services since 1977.
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Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

Shawmut Design and Construction breaks ground on the 195 District Park Pavilion in Providence, RI

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 Journal presents<br> the First Annual Project of the Year Award! Vote today!

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!
Investing in a falling rate environment - by Harrison Klein

Investing in a falling rate environment - by Harrison Klein

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 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