Boston Real Estate: Salvation Army Of Massachusetts, Hospitality Properties Trust, MERS (Mortgage Electronic Registration Systems), The Warren Group, National Association Of Realtors

Salvation Army of Massachusetts’ new Kroc Center in Dorchester will open Monday, 1st March for tours and to sign up members, a month ahead of the official dedication scheduled for April 1. Plans for the community center have included a swimming pool, a soccer field and tennis court, and also community meeting space.

Hospitality Properties Trust, a Newton-based owner of hotels, is on the path of renegotiating leases on list of under-performing properties. Analysts assert that HPT is likely to face a serious hit to revenue and cash flow once the dust settles on its rent discussions. HPT’s annual dividend is a generous $1.80 per share.

In a prepared statement, MERS (Mortgage Electronic Registration Systems) announced on Friday, 25th February, that it “is in compliance with the purpose and intent of the state recording acts.” Essex Register of Deeds John O’Brien has asked Attorney General Martha Coakley to determine whether MERS essentially set up an indistinct registry of deeds.

The Warren Group stated that Single-family home sales in Massachusetts jumped more than 5 percent in January even as median prices dropped nearly 7 percent. Condo sales fell nearly 18.5% in January, while the median price dropped 4.6%. 2,190 single family homes were sold in January this year compared to the 2,018 of last year.

Reports state a rise in sales of pre-owned houses has occurred palpably in January this year. Purchases increased 2.7% to a 5.36 million annual rate according to the National Association of Realtors. The share represented by foreclosures and short sales rose to a 12-month high, pushing the average price to the lowest since nine years.

Boston Real Estate: Chelsea Zoning And Planning Boards, New Boston Fund Inc., Charles Hayden Planetarium, Newburyport Waterfront, Berkshire Healthcare

The zoning and planning boards in Chelsea have approved a plan to build a 128-room Marriot in the undeveloped city land. The construction is likely to begin this year around June or July, according to Chelsea City Manager Jay Ash. The hotel will be built on Maple Street.

New Boston Fund Inc. and the Asian Community Development Corp. are revising the plans for their Parcel 24 residential development in Chinatown. The revised plan will be submitted to the Boston Redevelopment Authority on Thursday. The latest blueprint of the project suggests an increase of around 20 condos to the original plan.

Charles Hayden Planetarium, which has been closed for over a year, is set to reopen again on Sunday, 13th February, with the world premiere of “Undiscovered Worlds: The Search Beyond Our Sun.”. The planetarium has undergone a renovation worth $9 million. the planetarium uses a powerful new star projector, called the Zeiss Starmaster, to display on the planetarium’s 57-foot domed ceiling more than 9,000 celestial objects.

A new legal problem has risen threatening to delay Steve Karp’s plan to develop Newburyport waterfront. According to the Daily News Of Newbury, the legal issue has driven the Federal Emergency Management Agency to delay the final purpose on revised flood maps to allow scope of the construction Karp has in mind.

Berkshire Healthcare is planning to take over three nursing facilities, owned by Willowood Extended Care Services, in North Adams, Williamstown and Great Barrington. The deal officially was closed in 29th December and Berkshire had used a $30 million in bong proceeds to acquire the property.

Boston Real Estate – Vertex Pharmaceuticals, Longview Meadow, Venture Café alpha

Vertex Pharmaceuticals Inc. is geared up to move its premises from Cambridge to two new buildings at Seaport District, in 2013. This deal can be considered one of the largest in Boston’s recent real estate history. The transfer of the office space will help the city’s efforts to develop the waterfront neighborhood.

The 350-unit apartment complex planned at West Concord, which was delayed for years because of various reasons, is finally scheduled to begin next month. Demolition of two industrial buildings necessary for the progress of this project was completed last month. This venture by Mill Creek Residential Trust, which was previously called Alexan Concord, has been renamed Longview Meadow.

Venture Café alpha, a hub for entrepreneurs and investors and a concept by Cambridge Innovation Center’s CEO and co-founder Rowe, is being shifted to a ground floor retail space at 1 Broadway which is currently occupied by Domino’s Pizza. This 2,160 square-foot commercial space is going to be home hereon for Venture Café alpha which was hosted at the CIC office by Rowe.

Moody’s Investors Service reported recently that Cambridge’s commercial-tax base will probably improve the next term due to steady flow of capital improvements and increase in building permits filed in the city. Moody’s announced that Cambridge had decided to spend more than $200 million on capital improvements in the coming four years.

Recent reports state that Mount Vernon Company has purchased a 46,000 square-foot office space at 434 Massachusetts Avenue at South End. This mixed-used and retail property consists of four separate terraced buildings, and features an outdoor courtyard, too. The cost of the deal was not disclosed.