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They needed a superhero. They found one.

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They needed a superhero. They found one.

They needed a superhero to save them.

But it seemed all the superheroes were busy making sequels for streaming services and multiplexes.

And the hourglass, as hourglasses do, was running down.

Just as all was starting to feel hopeless, an anonymous (perhaps capeless) crusader rode in on a chariot to save the distressed Garden City landmark from the wrecking ball. 

Over the weekend the West Newton Cinema Foundation announced it received a $5.2 million gift from an anonymous donor towards its effort to save the historic West Newton Cinema and transform it into a cultural destination.

And in the process, saving the region's best real butter popcorn too.

The donation is just shy of the $5.6 million Robert Korff’s Mark Development paid for the building in 2022 when the cinema was struggling to stay afloat, a victim of the COVID-19 pandemic slowdown. Under the terms of the sale, Korff agreed to give a to-be-formed nonprofit two years to raise funds to buy the building for the same $5.6 million.

With an August 2024 deadline looming, it wasn’t clear – until this week – if the slow-to-start campaign could succeed.

The gift includes $3.2 million towards purchasing the property, plus an added $2 million (earmarked for restoration) in matching funds to galvanize support from other philanthropists.

The foundation now has until Aug. 10 to meet the $2 million match and save the historic 1937 Art Deco venue.

“We are incredibly excited by the news of this major gift and hope that the community will rally to provide the additional dollars to unlock the power of the matching grant,” Korff said in a statement.

“Transitioning the West Newton Cinema to a non-profit that offers multi-purpose space for community gathering, performances and art of all types not only fills an important need for our city, it could serve to bolster the other businesses in West Newton Square,” he added.

The foundation says it has received donations from over 700 additional supporters towards any overall $14 million goal.

Go here to support the Campaign for West Newton Cinema.


The biggest no-brainer in Needham

Could there possibly be a better, more walkable, transit-oriented, site in Needham for multi-family housing than the former Carter building just across from the Needham Heights commuter rail, Trader Joe's and CVS?

Vacant since early 2018, Welltower was granted a special permit to go forward with a 155-unit facility with 72 independent living apartment units, 55 assisted living units and 28 memory care units. 

ļ»æBut the plans were abandoned in 2022 and Welltower requested and received a one-year extension of the permit in April 2023.

One year later Peter O’Neil at the Needham Observer is reporting that the property at 100-110 West St. is now being considered for multifamily housing, which also could lead to its demolition. 

Observer photo

Climate Bank launches first consumer loan product

The Healey-Driscoll administration's newly founded Massachusetts Community Climate Bank has launched its first product, a $20 million program designed to help low- and moderate-income homeowners make clean energy improvements to their homes.  
ļ»æ
The Energy Saver Home Loan Program is aimed at single-family owners as well as those who own buildings with two to four units, reports the BBJ’s Greg Ryan.  

Larger landlords and developers may be eligible for still-to-come initiatives from the climate bank tied to recent multibillion-dollar initiatives from the Biden administration for for residential solar and other clean energy projects.

New outdoor concert pavilion approved for Watertown

A new permanent, covered stage for concerts, film and other events will be built at Saltonstall Park in Watertown, thanks to funds from the Community Preservation Act.

The Watertown City Council agreed to allocate $2.01 million to rehabilitate the upper park and construct the performance pavilion at the site where summer concerts and other events have been held, reports the Watertown News. 



Today’s grab bag 

  • Mount Auburn Cemetery is opening four new pedestrian gates along Mount Auburn Street plus re-opening the long-closed existing gate on Coolidge Avenue. The ribbon cutting is Thursday. (Boston Globe)

  • Green Energy Consumers Alliance is hosting a "Fleet Electrification Incentives in Massachusetts" webinar on Wed. May 22 from noon to 1 p.m. to learn how your business can switch to electric vehicles.  Learn more.

  • Fair in the Square is back at Linden Square Courtyard in Wellesley on Saturday (May 4) from 11am to 1pm. They'll be a petting farm, balloon twisters, temp tattoo artist, and more. Details.

  • Newton Neighbors hosts a diaper drive to support local families through Saturday, May 4th. Drop off at various locations throughout Newton. Details.

  • Would you prefer to see P!nk, Zach Bryan, or the Rolling Stones at Gilette Stadium this summer? Win the raffle in conjunction with the Needham History Center's spring gala and you can choose. May 11, 7 pm, at the History Center 

  • Just in time for the end of Passover, NY Bagel Factory is open at Trio in Newtonville.

  • One Can Help’s benefit supporting underserved children is on Saturday (May 6) at Brewer's Tap & Table, Waltham. Aging out foster youth will be speaking with Ch. 7 news anchor Amaka Ubaka. Details.


  • Could a recent U.S. Supreme Court decision in favor of a California homeowner be grounds for challenging linkage fees adopted in Watertown, Boston and elsewhere? Andover attorney Christopher R. Vaccaro raises the question in a Banker & Tradesman oped.

Praise where due

ļ»æMassDOT's Needham Street/Highland Ave project has been a giant pain for businesses and shoppers for several years now.

But have you noticed how much improved the bridge over the Charles River between Newton and Needham is now? 

Um. The reconfiguration and traffic signal under Route 9 on Winchester Street is a different story.

Why its so hard for young families to move to our communities 

One out of four (78%) older American homeowners said in a survey by Redfin that they plan to stay in their current home as they age.

The fact that the vast majority of baby boomer homeowners plan to age in place is already making it difficult for new families to move into our suburban communities. It also helps explain why public school enrollment is declining in many communities.

Empty-nest baby boomers own 28% of three-bedroom-plus U.S. homes, while millennials with kids own just 14%. And nearly 80% of boomers own the home they live in, compared to 55% of millennials.
 
Along with limited moving options, high-interest rates are adding to the problem. Most (54%) boomers who own homes have no mortgage, and for those who do have a mortgage, nearly all have a much lower interest rate than they would if they sold and bought a new home.

It’s not who you know, it’s who you tell us you know 

Finally this morning, Small Business Month begins tomorrow and we’d like to use the occasion by asking for your help introducing us to any small (or large) business you know that could benefit from our chamber’s advocacy, programming, and events.
 
After all, our members know better than anyone how valuable chamber participation can be for anyone looking to do business in Greater Boston’s inner western burbs.

It’s easy to e-introduce us. Fill out this referral form. We’ll take it from there. 
 
When your referral joins, you’ll receive a $25 gift card to a restaurant chamber member of your choice. So you’ll also be supporting our local dining scene at the same time.
 
Thanks in advance for helping us grow.


That’s what you need to know for today (someone should declare it Derrick White Day) unless you want to learn how to make paper planes that will impress your friends.

Be back Friday

Greg Reibman (he, him)
President & CEO
617.244.1688

 
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