News: Northern New England

Martini Northern honored by Plan NH for Cross Roads House shelter

Martini Northern and Cross Roads House were honored by Plan NH with a merit award of excellence for the $4 million newly constructed homeless shelter. Plan NH cited the project for having brought together diverse people and organizations throughout the Seacoast in partnership from local fund-raising events to corporate donations and individual giving. Individuals and organizations helped on move-in day. Demolition of two older buildings on the extremely compact site began in the winter of 2009 with blasting and site work completed by spring. The project consolidated three old buildings into one larger structure that provides emergency family housing, along with a new dining hall, kitchen, laundry, offices, classroom and counseling space. One remaining building will be renovated, and the shelter remained open during construction. The new facility has slightly fewer beds, and reflects a greater emphasis on the transitional program, which has the greatest success in helping people move back to permanent housing. The new construction also includes mandated health and safety improvements, improved security measures and spaces better suited for separating the various groups of people — single men and women and families. The new 21,256 s/f facility includes a full basement and two floors above ground with clerestory windows, flat rubber roof, forced hot air heating, radiant floor heating, solar hot water heating, and a future natural gas-powered emergency generator set-up. The basement houses mechanical and electrical rooms, laundry, commercial kitchen and dining room. The first floor includes the lobby, casework room, resource room, offices, emergency quarters for men and families, family kitchen, children's play areas indoors and out. The second floor features emergency quarters for women, men and women's transitional rooms, casework rooms and facility offices.
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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