Good morning,

We’re hosting a special event the morning of March 10 focused on the growth and challenges of Watertown’s life sciences and lab real estate sector.

We’ll hear remarks from Secretary of Economic Development Eric Paley, followed by a presentation from Sam Ghilardi of Watertown BIO, and a panel with City Manager George Proakis, Labshares CEO Philip Borden and Boylston Properties President Mark Deschenes. The BBJ’s Hannah Baratham Green will moderate.

We hope you will join us. Details.

Victory in the war against hypothetical chainsaws

Call off the lawyers. It’s safe to remove the 700-plus “Save MassBay Forest” signs on lawns across Wellesley.

It’s time to declare victory in Wellesley’s war against hypothetical chainsaws.

State housing secretary Ed Augustus confirmed this week that the Commonwealth has no plan to develop the 40 acres of forest it owns adjacent to the MassBay campus in Wellesley.

Furthermore, Augustus told the Globe’s Andrew Brinker the state is willing to place the woods under a long-term conservation restriction and is seeking housing only on a 5-acre parking lot on Oakland Street.

“To us, that’s a win-win-win proposition,” Augustus said. “We get the housing that we need as a state and they as a community need. They get to protect this forested area which … is not protected now. And the college gets the revenue that comes from the sale of the property that helps advance some of their goals and strategic plans.”

The public acknowledgement follows months in which the Select Board said Augustus had privately told them the same thing. Still, many in town were skeptical, seemingly not willing to take the town’s word for it.

Augustus also told Brinker that the state would not budge on allowing up to 180 units to be built on the parking lot.

Given that the Affordable Homes Act clearly allows the Commonwealth to bypass local control and permit multifamily housing on its own property, it’s hard to see what legal argument the town could possibly employ to stop it (especially after watching multiple challenges to the MBTA Communities Act fail).

“This is not an open-ended process,” said Augustus. “This is a process that at some point needs to stop, and then we need to move forward.”

And it should be easy to move forward now, knowing that Wellesley is on the verge of securing what residents have been clamoring for: Saving the MassBay forest.

We urge town leaders to choose bedrooms over courtrooms, given that its own 2025 Strategic Housing Plan says Wellesley needs exactly the type of homes the state wants to create.

The forest has been saved!  Let’s celebrate by issuing an RFP to get this project started.

I welcome your thoughts.

Price tag missing from ambitious state climate goals

Massachusetts has committed itself to some of the most ambitious climate goals in the country, but a key piece of the puzzle — understanding what those commitments will cost — remains unfinished.

According to a recent CommonWealth Beacon article by Jordan Wolman, the state’s climate chief Melissa Hoffer, missed a deadline to produce an analysis estimating the cost of meeting Massachusetts’ emissions targets.

The report, a central promise of Hoffer’s new role, was expected by the end of 2024. More than a year later, the administration says it still isn’t finished and has offered no new timeline.

“If we don’t have cost estimates, it’s hard to talk about tradeoffs.” Evan Horowitz, executive director of Tufts University’s Center for State Policy Analysis, told Wolman.

Climate policy shapes energy prices, housing costs, infrastructure spending and economic competitiveness for years to come.   The absence of this analysis makes it harder to have an honest conversation about how to achieve them. 

Meanwhile:

• WBUR’s Miriam Wasser breaks down the Healey administration’s annual assessment of the state's progress in meeting its clean energy and climate goals.
  
  
• In Newton, the committee drafting the regulations to accompany the city’s BERDO ordinance has released its draft regulations. We welcome your feedback.

Newton Centre Plaza deserves a longer look

Last night, the Newton City Council postponed a vote on demolishing the Newton Centre Plaza on May 31, because too many councilors were going to be away during school vacation week.

We’re urging councilors to delay it further until the city can finalize a promised proposal to possibly move it from the parking lot to the adjacent village green.

Ripping apart the plaza just after Memorial Day — as outdoor season ramps up and parking pressure eases — and maybe bringing it back later makes no sense.  

Nor should we repeat the prior administration’s mistake of rushing a decision without giving businesses and residents adequate time to weigh in.

It was rushed last time. Let’s not rush it again. The best path forward is to keep the plaza in place through the summer or at least until we can kick the tires on an alternative.

Tuesday grab bag

• We’re increasingly hearing from members who have been victimized by fraud. That’s why we’re bringing together experts from across sectors to help small businesses and nonprofits better understand today’s risks at a webinar on March 6 at 9 a.m.
  
  
• There were 2,305 single-family homes sold across Massachusetts last month, almost 13% fewer than were sold a year earlier. But while sales declined, the median single-family home price continued to climb, up 4.7% over last January. (State House News)
  
  
• The team behind Blue on Highland in Needham Heights is taking over The Biltmore Bar & Grill in Newton Upper Falls. It will reopen as The Biltmore Tavern following renovations later in the spring ( Facebook)
  
  
• The Envision Needham Center survey closes this Sunday (Feb. 22). If you want to weigh in on the future of downtown and Great Plain Avenue (and please do weigh in), submit your feedback before then.  The survey is open to everyone!
  
  
• Musical chairs: Jane Obbagy is now chair of Newton’s Economic Development Commission.  Chuck Tanowitz is now vice chair. It was previously the other way around.
  
  
• Affordable housing: Condominium units are available at 1151 Walnut Street in Newton Highlands at 80% and 110% of Area Median Income. Units will be awarded through a lottery. Application
  
  
• Activist hedge fund manager Starboard Value says it plans to launch a proxy battle force the sale of Needham-based Tripadvisor.  (Boston Globe)
  
  
• Meanwhile, the company stock at (Tripadvisor’s down the street neighbor), SharkNinja, just hit an all-time high and also announced its first share buyback program.(Boston Globe)
  
  
• Former Newton Mayor Ruthanne Fuller, along with Jason Honeyman and Max Slifka, have joined 2Life Communities’ board of directors. 
  
  
• Sky Candle says its Needham location on Great Plain Ave. will be closing soon. 
  
  
• LoveShackFancy, the global fashion, home, and lifestyle brand founded by Rebecca Hessel Cohen, will open at The Street at Chestnut Hill this spring.
  
  
• Immigration agents are temporarily barred from arresting immigrants at some Boston-area churches following a federal ruling. (Axios)
  
  
• Could your organization use a fresh perspective? Let a team of Babson entrepreneurial student consultants help your business. Learn more about this free service

Don’t judge a vacancy by its window

Finally, been flummoxed by an empty storefront(s) in your village or downtown?

The explanation may be more complicated than it looks, writes Chuck Tanowitz in a helpful Newton Beacon op-ed.

“In truth, owners want tenants, and they’re usually scouting for them. But what casual observers can’t see is the decisions going on behind the scenes that make filling the space difficult,” he writes.

Communities may actually be struggling more with office vacancies than retail, and often are these days.

“You could walk by an office building and never know that offices have sat empty for years. But an empty storefront is like a pimple right on the edge of the village’s nose. Everyone sees it.”

Tanowitz also highlights a piece by city planner Seth Zeren outlining eight reasons storefronts sit vacant, offering additional insights.

That’s what you need to know for today — the start of Ramadan — unless you need to know why Gen Z doesn’t love “Harry Potter.”

Be back Friday.

Greg Reibman (he, him)

President & CEO

Charles River Regional Chamber

617.244.1688

I value your feedback