Skip to content
Newton, Needham, Watertown, Wellesley
Subscribe to our free e-newsletter
Our Region
Directory
Member Login

Newton's housing plan unveiled ...and it's pretty good

Back to Chamber News

Newton's housing plan unveiled ...and it's pretty good

The clock is ticking on a December deadline for Newton to change its zoning laws to comply with the MBTA Communities Law.
 
Last week the Fuller administration released a new series of maps designed to do just that in concert with efforts that could help small businesses by rezoning the city’s village centers.
 
On the first blush, Version 2.0 looks pretty good.
 
The updated proposal smartly shifts focus to allow for smaller, multi-family homes along the Green Line, particularly between Newton Center, Newton Highlands, and the Elliot T stations.
 
It also carves out opportunities for street-level businesses to thrive in village centers and for developers to add additional building height by right in select locations in exchange for building more affordable housing. 
 
By law, Newton must rezone to accommodate 8,330 units of transit-oriented homes. But please don’t confuse that with how many units will be built. The number of homes built is likely to be much smaller. And growth will likely happen over years if not decades.
 
Still, while Version 1.0, released last fall, would have only added a potential 3,500 units, Version 2.0 allows for about 10,000 units.
 
That's not as ambitious as we wish it would be.
 
It's not as potentially as transformative as what Lexington recently approved, which went way beyond what was required.
 
But it's far better than Westwood's approach or the attitude of some jerks on Nantucket.
 
Use this interactive map to toggle between Version 1.0 and Version 2.0.  Here’s the slides and video from last week’s presentation.
 
?Look for a public hearing in late June.
 
In Wellesley Hills, the signs they are a-changin'
 
Six weeks ago, they were ordering new signs for the Silicon Valley Bank branch in Wellesley Hills.
 
This week -- a mere four-minute walk down Washington Street – it’s the First Republic Bank branch’s turn, following Monday’s early morning takeover by JPMorgan Chase Bank.
 
The acquisition of what was the sixth-largest bank in the state by deposits greatly accelerates Chairman and CEO Jamie Dimon’s plan to make JPMorgan "at least" the third largest bank in the Boston market in deposit market share, writes Meera Raman at the BBJ.
 
As of last year, JP Morgan Chase Bank had not yet cracked the top 25 list of largest banks in Massachusetts by deposits.
 
Here’s what First Republic Bank customers need to know about the transition.
 
What do the rest of us need to know?
 
“Banks are tightening their credit standards and are expected to reduce lending, increasing the odds that the economy falls into a recession,” writes the Globe’s Larry Edelman
 
Wondering about your bank?
 
Here's a list of local community banks that provide insurance above the FDIC limits through the Depositors Insurance Fund. With a DIF member bank, the FDIC insures up to $250,000, while the DIF covers all deposits above the FDIC insurance amount. 
 
 
Bay State exodus cost state billions
 
Taxpayers fled Massachusetts in the first year of the COVID-19 pandemic, according to IRS migration data, costing the Bay State billions of dollars in tax revenue.
 
The state had a net loss of 25,029 taxpayers and 153,487 individuals en route to losing $11.5 billion in revenue in 2020. Some 67% of the taxpayers who fled the state went to states that do not feature an income tax, according to the Pioneer Institute.
 
“The Massachusetts Legislature needs to understand just how much the Bay State is at risk,” said Pioneer Executive Director Jim Sergios.
 
?“Leadership must act to increase our state’s competitiveness by enacting laws and policies that encourage business and people not only to move here but to remain here.”
 
Watertown plan to revisit small business support
 
The draft of Watertown’s Comprehensive Plan will undergo some revisions before it heads to the city council for adoption.
 
The updates will reflect feedback heard at community meetings to prioritize supporting businesses that enliven Watertown Square and Coolidge Square and the smaller retail areas along Main Street and in neighborhoods, according to the Watertown News.
 
There were also calls for steps to diversify the economy beyond life science R&D and lab projects built and approved in the past few years.
 
 
One in four docs plan to leave medicine
 
Half of Massachusetts doctors surveyed have already or intend to soon cut back their clinical hours. One in four plan to leave medicine altogether in the coming years, according to a new Massachusetts Medical Society survey.
 
About 63% of female doctors who participated in the survey reported symptoms of burnout, compared to 47% of male physicians, writes Chris Lisinski at State House News.
 
Proposed 40B would add 244 homes along Route 9
Toll Brothers have submitted a comprehensive permit application under Chapter 40B for 244 apartments on 6-acres along the eastbound side of Route 9 in Newton, at the current Sam White & Sons landscaping business.
 
Newton’s Zoning Board of Appeals will open a public hearing on May 24. The Conservation Commission will also need to approve since as a part of the site includes wetlands restrictions and a floodplain overlay district
 
 
Today's grab bag
 
  • Four people who were formerly homeless just moved into the first arm of the 2Life Communities Golda Meir House expansion. Five additional apartments will be ready by summer. 
 
  • Needham is partnering with Via Strategies to conduct a study focused on evaluating existing local transportation options in Needham, identifying gaps in service, and making recommendations for new services or changes to existing services. Participate here.
 
  • Newton's Commissioner of Inspectional Services John Lojek will retire in July after 18 years of service.
 
  • MassBioEd Life Sciences May 31 Workforce Conference brings together industry, academic institutions, training providers, and community leaders to explore the issues in developing and accessing talent. Details
 
  • Help spruce up Newton at NewtonSERVES this Sunday, May 7. Sign up
 
 
 
Local company has a shot at Earth Shot
 
Chamber member Jackson Madnick and Pearl’s Premium Ultra Low Maintenance Lawn Seed is one of the semi-finalists for Prince William’s EarthShot Prize,
awarded each year for their contributions to environmentalism.
 
This follows getting an award from the State of Massachusetts for being a 2022 Manufacturer of the Year, plus an award from the Boston Museum of Science and winning the MassChange Prize for innovation. 
 
'A hidden gem' in Wellesley is her favorite restaurant in the world
 
Finally, this morning, veteran travel writer Debbi Kickham has been covering the luxury marketplace for decades.
 
She's been wined and dined in some of the world’s best restaurants, including during the years she was an editor at Robb Report Magazine.
 
“And yet, with all of the Michelin-starred restaurants I have dined at, when I am at home in the Boston area, there’s only one restaurant I crave to dine at: Captain Marden’s in Wellesley,” Kickham writes in Forbes.
 
"It’s very humble – Captain Marden’s is located in a non-descript little strip mall – but the fish is out of this world. In fact, with every fish entrée that I dine on, everywhere on the globe, I compare it to Captain Marden’s. It’s that good. When you’re in Boston, forget the fancy-schmancy restaurants and I recommend making the 20-minute trek to Wellesley. (And the parking is free.)"
 
Kickham doesn't mention it, but they're serving breakfast again too!
 
 
That’s your need to knows for today, unless you need to know is AI coming for your job?
 
Be back Friday.
 
Greg Reibman (he, him)
President
617.244.1688
 
P.S. RIP Natick Rabbi Harold Kushner. Listen to an interview with Kushner on NPR here.
Powered By GrowthZone