Industry News
Amazon Sued by FTC, CT, 16 Other States
By Haleluya Hadero | The Associated Press | September 26, 2023 | ReprintsAmazon has been the largest force behind a boom in distribution center real estate across Connecticut, and recently signaled it planned to resume the expansion after halting it last year.
Homeowners Face Rising Insurance Rates as Climate Change Makes Disasters More Common
By Ken Sweet | The Associated Press | September 26, 2023 | Reprints | Unlock Link
A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a new report says.
CT Sees Tourism Bump, State Data Says
By James Sanna | September 25, 2023 | Reprints | Unlock LinkThe state’s lodging industry got a bump from tourism this summer, state officials say, and Gov. Ned Lamont is taking a victory lap and launching a new initiative as leaf-peeping season nears.
Why the Job Market Has Defied Rising Interest Rates
By Christopher Rugaber | The Associated Press | September 25, 2023 | Reprints | Unlock LinkLast year’s spike in inflation, to the highest level in four decades, was painful enough for American households. Yet the cure – much higher interest rates, to cool spending and hiring – was expected to bring even more pain.
SBA Reports ‘Major Increase’ of Loans to Black-Owned Businesses
By Nika Cataldo | September 25, 2023 | Reprints | Unlock LinkThe US Small Business Administration reported an increase in the number and share of SBA-backed 7(a) and 504 loans going to Black-owned businesses.
Boston Fed President: Inflation Remains Too High
By Nika Cataldo | September 22, 2023 | Reprints | Unlock LinkThe president of the Federal Reserve Bank of Boston believes that inflation still remains too high and that policymakers are keeping an eye on price stability.
Branding Connecticut’s Biotech Industry for Growth
By Steve Adams | Commercial Record Staff | September 21, 2023 | Reprints | Unlock LinkIn her role since May as the new president and CEO of the state’s biotech trade organization BioCT, Jodie Gillon has recruited 50 new members and added the state’s most prominent life science developer, Carter Winstanley, to the group’s board of directors.
Ways Agents Can Stop Paying for Leads
By Bernice Ross | Special To Commercial Record | September 21, 2023 | Reprints | Unlock LinkBefore forking over 40 percent of your commission, try working with a few of these ideas to obtain high-quality leads at a fraction of the price you’re currently paying for leads.
New Haven Affordable Development Wins Zoning OK
By James Sanna | September 21, 2023 | Reprints | Unlock LinkA 58-unit apartment development from national affordable housing firm Penrose got a key approval this week from the New Haven Board of Zoning Appeal.
Frontier Communications Moving CT HQ Out of State
September 21, 2023 | Reprints | Unlock LinkNorwalk-based broadband internet provider Frontier Communications is relocating to Texas.
Fed Signals Optimism About a Potential ‘Soft Landing’
By Christopher Rugaber | The Associated Press | September 21, 2023 | Reprints | Unlock LinkThe Federal Reserve left its benchmark interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased.
LAZ, Lexington Partners Seek Office-Residential Conversion
By James Sanna | September 20, 2023 | Reprints | Unlock LinkA Hartford office building vacant for the last three years could get redeveloped as apartments.
Citizens Puts $50B Toward Helping Clients Go Green
By Nika Cataldo | September 20, 2023 | Reprints | Unlock LinkCitizens Bank is setting a $50 billion target to finance both “green” and “social” initiatives and projects by 2030.
Report: Vacation Home Demand Nears Seven-Year Low
By James Sanna | September 19, 2023 | Reprints | Unlock LinkAn analysis of mortgage rate-lock data by economists at brokerage and listings portal Redfin says that demand for vacation homes ticked down again in August, and are lower than they’ve been since mid-2017.
Stamford Developer Salvatore Plans Hundreds of Apartments on Hartford Campus
By James Sanna | September 19, 2023 | Reprints | Unlock LinkThe future of a 12.69-acre parcel next to downtown Hartford is getting clearer after RMS Cos. said it could build over 1,000 apartments on the site.
Federal Reserve Poised to Leave Rates Unchanged
By Christopher Rugaber | The Associated Press | September 18, 2023 | Reprints | Unlock LinkWhen they meet again this week, the central bank’s policymakers are likely to decide they can afford to wait and see if the progress continues, experts say.
State Biotech Trade Group Takes Space in New Haven Lab Tower
By James Sanna | September 18, 2023 | Reprints | Unlock LinkThe trade group for Connecticut life science companies is moving into the state’s newest biotech building and adding a prominent developer to its board.
Well-Known Developer Dead at 67
September 18, 2023 | Reprints | Unlock LinkMartin Kenny, for almost 30 years head of Hartford-area development firm Lexington Partners and a fixture in the local real estate scene, died this weekend at age 67.
Former New Haven Bank to Become Nightclub
By James Sanna | September 15, 2023 | Reprints | Unlock LinkA former bank in downtown New Haven is slated for new life as a nightclub and events space, long after it was abandoned by its original users.
Surveys Say Small Businesses Alert, Yet Optimistic on Growth
By Nika Cataldo | September 15, 2023 | Reprints | Unlock LinkWith the interest rate hikes expected to persist, U.S. small businesses are still optimistic while still being alert to the impacts that the current economic pressures, according to two bank surveys.
