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The motto of the Central Massachusetts business community might as well be, “Cautiously optimistic.”
With the American economy humming along at a steady rate – with job rates, household spending and consumer confidence all up – financial institutions lent more in 2017 than at any year since before the Great Recession, according to the Federal Reserve.
This past year was huge for the Worcester restaurant, entertainment and hospitality scene, with exciting announcements and openings.
The trends are going in the right direction for homeowners: an increase in prices and a sharp drop this year in foreclosures, both in Central Massachusetts and across the state. A tight supply market means finding a home is more difficult.
On March 19, a judge ruled the showdown between the Massachusetts attorney general and the Town of Milton will go before the full Supreme Judicial Court in October. The dispute is over the MBTA Communities Act, which requires cities and towns near T service to adopt zoning allowing multifamily housing by right in certain areas. Some Massachusetts local governments, including Holden, have pushed back against the requirement, saying such zoning doesn't fit in their communities.
Gov. Maura Healey and Attorney General Andrea Campbell have cracked down on non-compliant communities with lawsuits and by reducing state funding, as part of a larger effort to address the statewide affordable housing crisis. The MBTA Communities Act is one of a handful of laws designed to increase housing construction by having at least one zoning district of reasonable size where multifamily housing is permitted.
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SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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