Housing, herring and hemp
Housing, herring and hemp
For the second time, the Newton City Council has postponed a vote to join the state pilot program that will require most new buildings and additions of over 1,000 square feet, and all renovations of more than 50% of a building, to be fully electric.
Last night’s delay followed a motion – and then a request to wordsmith a second motion -- to exempt gas cooking from the ordinance.
Eight other communities have already signed onto the climate law which allows up to 10 communities to participate.
Since the entire intent of the program is to wean homeowners and others off fossil fuels and discourage new gas line hookups, it’s not clear if the state will – or even should -- allow the exemption.
Housing bill inches forward
This is a big week in the fight to make it possible for young families, downsizing seniors and workers of all ages to live, or remain, in Massachusetts.
Tomorrow, the House will finally vote on a $6.2 billion housing bond bill designed to spur much-needed production through investments, tax breaks and zoning law changes.
It’s their version of Gov. Maura Healey's $4.1 billion housing bond bill, first proposed seven months ago,
As with Healey’s bill, it allows for accessory dwelling units by right in single-family zoning districts.
But does not include the governor’s proposal to create a local option transfer tax to fund affordable housing initiatives.
And guess what? The public wants our leaders to act
The House debate begins just as a new UMass Amherst/WCVB poll shows that housing affordability and the housing shortage is the top political issue they’d like to see Gov. Maura Healey and the Legislature address.
Forty-four percent of those surveyed who said they tried to buy a home in the last year said they could not find a suitable home in their price range. Sixty-three percent of those looking to rent said they could not find an affordable place to live.
The poll also indicated majority support for several proposals often considered controversial, including accessory dwelling units (66 percent), transfer tax (62 percent) and MBTA Communities Law (55 percent).
High housings costs hit home
Meanwhile, updated data published by the Globe shows just how out-of-reach — and scarce — housing has become in our chamber communities and across the state:
- In Newton, the median sale price of a house increased roughly 43% between 2018 and 2023. There were 654 home sales in 2018 and 463 in2023.
- In Needham, the median sale price of a house increased roughly 40% between 2018 and 2023. There were 386 home sales in 2018 and 248 in 2023.
- In Watertown, the median sale price of a house increased roughly 38% between 2018 and 2023. There were 111 home sales in 2018 and 66 in 2023.
- In Wellesley, the median sale price of a house increased roughly 35% between2018 and 2023. There were 358 home sales in 2018 and 241 in 2023.
All of which leads me to think….
Larry Edelman is correct when he writes: It’s time for the Fed to lower interest rates.
“There’s no guarantee, but cheaper borrowing costs could spur construction of new homes and apartments,” he writes. “The much-needed increase in supply would put downward pressure on home prices and rents.”
Today’s grab bag
- Wicked Bagel has opened on School Street in Watertown at the former Porcini’s location. They’ll start offering brunch, with alcohol available, shortly. (Watertown News)
- Here’s 11 Excellent Restaurants to try in Newton, according to Eater.
- The Wellesley Housing Task Force will hold it first community meeting June 18, 6:30 p.m. towards creating a Strategic Housing Plan at the Wellesley High School cafeteria.
- Owners of a crumbling smokestack that once served a 19th-century pumping station across from the Chestnut Hill Reservoir has received permission to be demolished before it collapses onto the Waterworks complex. (Universal Hub)
- Learn how your company can become a state-certified Veteran Ready Business.
- Blue on Highland restaurant in Needham is looking to expand 650 SF by taking over the adjoining commercial space, formerly a nail salon.
- Retiring State Rep. Ruth Balser has endorsed former Newton City Councilor Greg Schwartz to succeed her. (FYI: Although I appear in his campaign’s video, I have not endorsed Schwartz and do not endorse candidates.)
Saving the world from soggy sandwiches
The Globe’s Jon Chesto shares a nice anecdote about how Mark Barrocas and his team of engineers at SharkNinja in Needham have solved the soggy sandwich problem while watching their share price go up too.
State: Hemp drinks and gummies must be removed from non-dispensary shelves
Massachusetts is finally cracking down on the sale on the sale of intoxicating hemp-based gummies, drinks, and other products sold at liquor stores, gas stations, and smoke shops.
The new directive addresses an understandable complaint from cannabis dispensaries that have to jump through all sorts of hoops to become licensed.
While dispensaries must operate under strict testing, packaging, labeling, taxation, and age restrictions, hemp products are unregulated in Massachusetts and seem to have been showing up everywhere.
“It’s challenging every day in the cannabis industry with all of the regulations and taxes and everything that we pay,” Jeff Herold, CEO of Newton-based Garden Remedies tells Bhaamati Borkhetaria at CommonWealth Beacon.
“Having competitors that don’t have the same rules or regulations makes it a struggle.”
Needham is among communities that recently notified liquor license holders that hemp-based intoxicating products are illegal, Borkhetaria adds.
The herring are ready for their closeup
Finally, it’s time to once again celebrate the miraculous migration of Alewife, Blueback Herring and American Shad from the ocean and up the Charles River.
The fish travel thousands of miles to spawn in our favorite river, despite the challenges of climate change as well as the physical obstruction from obsolete dams.
This Saturday (June 8) at 2 p.m., the Charles River Watershed Association is celebrating the occasion at its annual Watertown Dam Herring Festival.
This event includes live music, community art activities, an Indigenous performance as well as opportunities to learn about fish migration and resilience.
There is also encouraging news this week related to efforts to remove the defunct Watertown Dam, CRWA announced yesterday.
The Massachusetts Department of Conservation and Recreation has hired a consultant to conduct a removal analysis for the dam. The study is considered a necessary step toward removal.
Go here to learn more about the why removing the dam makes sense. Or watch this 2022 chamber webinar.
And see you at the herring festival.
That’s what you need to know for today – hug your cat day – unless you need to know why Abe Lincoln had a beard.
Make it a good one!
Greg Reibman (he, him)
President & CEO
Charles River Regional Chamber
617.244.1688
Keep up with news from our members here.