A big housing opportunity in Newton
A big housing opportunity in Newton
Good morning friends,
We have news today about an interesting opportunity to create new housing in Newton. Plus we have an update on how Needham plans to respond after voters rejected its MBTA Communities Act plan last week.
But first, an important update for every employer related to the Unemployment Insurance Tax.
UI Insurance tax deal could still break employers’ backs
Before turning over the wi-fi password to a new administration last week, Joe Biden’s US Department of Labor reached a deal with the Healey administration over that $2.5 billion unemployment insurance mistake made by the Baker administration during the pandemic.
The bottom line? Rather than paying the feds back $2.5 billion (plus $487 million in interest), the tab was reduced to $2 billion to be paid over 10 years (with $73 million in interest).
Here’s a FAQ from the state explaining what new agreement means to employers.
The agreement came amidst some fears that the Trump administration might not have been as generous to Massachusetts. And the outcome matters a lot to the state’s employers who already fund the most expensive UI system in the nation.
Pius, Massachusetts employers are currently being taxed through 2028 to cover an added $2.7 billion UI debt shelled out during the pandemic.
Oh, and even before accounting for those additional payments, the state’s UI Trust Fund was slated to be hundreds of millions of dollars in the red by the end of 2028.
As part of this week’s settlement announcement, the state said there will be no immediate change to employers’ bills through at least the end of 2026. And interest payments to the feds will come out of the state’s general fund not UI, reports the Globe’s Jon Chesto.
This week Healey promised to pursue measures to reform the UI system and lighten the burden on employers. That can’t happen soon enough.
But at some point the fear is this mistake could land on employers’ backs. No one should underestimate how challenging that would be.
A housing idea that could be a regional game changer
Here’s an interesting idea that could make a meaningful dent in our housing shortage, particularly for younger workers.
UMass/Amherst is accepting proposals from developers to build housing and/or mixed-use projects on its main campus in Amherst as well as its Mount Ida Campus in Newton.
The university is pitching the idea as a way “to create a comprehensive, long-range plan to modernize campus housing and maintain affordability for decades” and it’s an intriguing one.
Adding housing, along with perhaps some retail, at Mount Ida could ease regional pressures for undergraduate, graduate and non-student housing and greatly benefit employers who’ve struggled to attract or retain workers due to our acute housing shortage. Providing on-campus housing to students in part-time professional graduate programs is one way to attract young, skilled workers to the region.
It might also conceivably provide a university retirement community for seniors who would be attracted to living near campus amenities and learning.
The bucolic Mount Ida Campus is 66 acres, not all of which is currently being used by its experiential learning and professional development and other programs.
Development on the property would not require a special permit from the city and has the support of the Healey-Driscoll administration.
In a statement, Housing Secretary Ed Augustus said the initiative “is in line with the administration’s priority to leverage state-owned land, build new housing, and drive down costs.”
Commercial real estate advisory firm Newmark is managing the procurement process. Details.
A warm thought for a cold week
Our always popular Spring Seasonings tasting event returns to the Newton Marriott on April 7.
Contact Lise Elcock if you’d like to learn about becoming a sponsor.
Today’s grab bag
- The Wellesley Wonderland Ice Sculpture Stroll returns tomorrow (Friday) 4-6 p.m. Stroll Linden, Wellesley, and Church Squares discover whimsical ice sculpture sand enjoy live music, food sampling, hot chocolate stations, costumed characters, plus in-store promotions and discounts.
- Newton’s WinterFEST, hosted by Newton Community Pride, starts tomorrow (Friday) and continues through Sunday , offering a weekend of free, accessible winter activities (free soup!) for the whole community.
- Our first-annual Watertown Night event tonight is sold out. Our Feb. 5 Winter Celebration at William James College is almost sold out.
- Housing advocates who battled intentionally misleading skyscraper graphics in Newton last year and in Needham during the recent referendum can feel Somerville’s pain.
- Congratulations to Douglass Williams of MIDA Newton at Trio who was just named a 2025 James Beard semifinalist for Outstanding Restauranteur.
- The Needham Human Rights Committee is hosting a forum on the new administration’s immigration policy with Heather Yountz, an immigration attorney at the Massachusetts Law Reform Institute, Jan. 27, 7:30 p.m., at the Center at the Heights and on Zoom. Details
- Gov. Maura Healey will reportedly file legislation next week that would allow municipalities to raise meals, hotel and car excise taxes. Healey tried but was unable to pass a similar measure last year. (Globe)
- Former Newton School Committee member Geoffrey Epstein is running for mayor of Framingham against incumbent Charlie Sisitsky. (Metrowest Daily News)
- President Trump has discussed imposing widespread or targeted tariffs as high as 25%. Please take a moment to respond to a Retailers Association of Massachusetts survey to help direct RAM on reactions to this potential action.
- If you appreciate the chamber’s advocacy and events, we’d appreciate it if you’d take one minute to post a Google Review for the Charles River Chamber here. Thanks!
Newton adopts generational tobacco ban
Newton City Councilors voted this week, 19-4, to approve a ban on selling tobacco and e-cigarette products in Newton to anyone born after March 1, 2004, no matter how long that person lives.
The city will become the 13th municipality in the state (including Needham, only to anyone born after Jan. 1, 2004) to pass a generational ban, according to Fig City News. It impacts 35 Newton businesses that sell tobacco products.
It comes just as two state lawmakers filed a bill last week that would ban nicotine sales in Massachusetts to anyone born after 2005. That seems like a fairer way to approach this, rather than a hodge-podge of different rules in different communities.
Needham moving toward paper compliance housing plan
Finally, on the heels of last week’s disappointing but decisive rejection of Needham’s MBTA Communities compliance plan by voters, the Needham Select Board and Planning Board unanimously voted Tuesday to adopt a paper compliance approach.
Both bodies moved to support the Base Compliance Plan, which meets the state mandate but is projected to yield little housing.
- An independent analysis found the Base Plan might create about 411 new homes over the next decade or more.
- Compared that to the rejected Neighborhood Housing Plan which was projected to yield about 1,288 new middle market and affordable homes over a decade and have made a meaningful dent in town’s housing needs.
During the select board meeting Vice-Chair Heidi Frail, who had gallantly lead the effort to pass the bolder plan, said that while she was disappointed by the referendum result, she accepted it and emphasized that the process worked as intended. She also expressed a desire to understand how the process might be improved in the future.
The town will now forward the Base Plan to the state as an “action plan,” which if approved, will put Needham in interim compliance until Town Meeting in May. The Planning Board will hold a public hearing, Feb. 13 at the Broadmeadow School.
The Needham Observer has more.
That’s what you need to know for today, unless you need to know why cattle gallstones are worth more than gold.
There’s more to tell you, so I’ll be back tomorrow.
President & CEO
Charles River Regional Chamber
617.244.1688