Update on Federal Government Shutdown - 10/24

[Anthony D'Isidoro]

Services that will continue 

·                Core Federal Benefits: Social Security, Medicare, Medicaid, Veterans Affairs benefits, and the Postal Service will continue uninterrupted as mandatory or self-funded programs. 

·                Public Safety and National Security: Military, national security, and federal law enforcement (FBI, DEA, Border Patrol) remain active, though many personnel are working unpaid. 

·                Transportation and Travel: Air travel continues at Logan Airport and regional airports with TSA officers and air traffic controllers on duty, though delays may increase if the shutdown persists. 

·                Emergency and Disaster Response: FEMA continues active disaster operations but has paused new grants and reimbursements. 

·                Education and Health Programs: Federal student aid (Pell Grants, student loans) and state-supported programs such as MassHealth, public schools, police, fire, and transit services continue under state or prior-year funding. 

 

Services Losing Funding After November 1 

(Programs reliant on annual appropriations that will face interruptions early November) 

·                SNAP (Supplemental Nutrition Assistance Program): 

o        Over 1 million Massachusetts residents depend on SNAP, totaling about $240 million in monthly benefits. 

o        Without appropriations, payments will stop after November 1, leaving no state mechanism to replace lost funds. 

o        Food banks such as the Greater Boston Food Bank are preparing for sharp increases in demand. 

·                WIC (Women, Infants & Children): 

o        Serves about 90,000 residents statewide. 

o        Funds will run out within 1–2 weeks after November 1; temporary national transfers only provide a short extension. 

·                Head Start: 

o        Supports 12,000 low-income preschoolers in Massachusetts. 

o        Grant renewals freeze November 1, risking closures in Springfield, Lawrence, Fall River, and many other communities. 

o        Program disruptions will affect childcare, nutrition, and developmental services. 

·                Fuel Assistance (LIHEAP): 

o        Massachusetts’ federal Low-Income Home Energy Assistance Program will pause new funding after November 1 if the shutdown continues. 

o        Local agencies, such as ABCD, warn that applications may be delayed or frozen, risking shortfalls by mid-November and leaving thousands of low-income and elderly residents without heating support. 

 

Services That Will Not Continue 

(Programs and operations suspended until funding resumes) 

·                Small Business Administration: New loans and guarantees paused, limiting credit access for small businesses and contractors. 

·                Fisheries & Agriculture: NOAA and USDA loan programs, permits, and data collection halted—affecting farmers and fisheries’ planning and exports. 

·                Federal Research & Grants: New funding from NIH, NSF, and DOE paused; major institutions (UMass, MIT, Harvard, Mass General) report project delays. 

·                Tourism & Parks: Cape Cod National Seashore and Boston National Historical Park closed or minimally staffed, reducing tourism revenue. 

·                Immigration and Visa Processing: Significant delays for international students, researchers, and workers in higher-education and biotech sectors. 

·                Federal Data and Operations: Census Bureau, BLS, and USDA market reporting remain shut down, halting key data used for planning and forecasting. 

·                Federal Workforce: Thousands of Massachusetts federal employees remain furloughed without guaranteed back pay, reducing local economic activity statewide. 

[Anthony D'Isidoro]

Hello Everyone,

I fully agree that housing should be at the top of the list when it comes to evaluating surplus city property. (Ordinance Attached)

However, the highest and best use locally and citywide should definitely factor into the disposition of land as well.

 For example, a brand-new Allston Brighton Community Center most likely will only be economically feasible if constructed on surplus city property. A mixed use of housing above the new Allston Brighton Community Center should always be a consideration.

Other uses to consider:

Addiction Services, Homeless Care

Arts & Culture Rehearsal and Gallery Space

Centers for Independent Living

Community Centers

Community Health Centers

Family Child Care Services

Libraries

Parks, Recreation and Sustainability

Police, Fire, EMS

Public Works Facilities

Schools

Senior Centers

Veterans Service Centers

Tony

_______________________________________________________________________

Boston Housing Crisis: New law prioritizes converting city property into affordable homes (John L. Micek, MassLive: October. 22, 2025)

Boston Mayor Michelle Wu (C) surrounded by members of City Council 

and advocates signs a new city ordinance that prioritizes turning surplus 

city property into affordable housing. Wu signed the ordinance during a 

news conference at City Hall on Wednesday, Oct. 22, 2025.John L. Micek/MassLive

It’s been more than a year since The Pryde opened its doors in Boston’s Hyde Park neighborhood. And in that time, the former school building has become more than just an affordable housing option for older LGBTQ+ adults.

It’s become “the heart of Hyde Park," Boston City Councilmember Enrique J. Pepén, who represents the neighborhood at City Hall, said.

“And the fact that used to be a school? And we took the opportunity to make that into affordable housing for our residents? That’s what we need to be doing across the city," Pepén continued.

Bostonians could soon see more projects like The Pryde popping up across the city under a new ordinance that prioritizes converting surplus city property into affordable housing.

Flanked by advocates, Pepén, and other members of the City Council, Mayor Michelle Wu signed the language into law during a news conference at City Hall on Wednesday.

She positioned the ordinance as part of her administration’s ongoing effort to “[make] Boston a home for everyone.”

“Everything that we do, every investment that we make, every policy choice that we make is intended to root families in Boston and make sure that our families are also at home in every part of the city with access to every opportunity,” the Democratic mayor said.

Boston City Council President Ruthzee Louijeune speaks during a news 

conference at City Hall on Wednesday, Oct. 22, 2025.John L. Micek/MassLive

Boston City Council President Ruthzee Louijeune, who helped shepherd the language through the legislative body, reflected on a conversation that she and Pepén had with students at her alma mater, Boston Latin School, earlier in the day.

Those students, who still lived at home with their parents, told the two city pols that they were worried about being able to afford to live in their hometown when the day came.

The new ordinance would go some distance toward making that possible, Louijeune said.

“We have a responsibility to respond and to do the work of responding to our young people who are worried about whether they have a future in this city,” Louijeune said.

While the ordinance codifies it, city officials have already done some of that work, Wu said.

She pointed to the “long overdue” construction of the Boston Public Library’s Chinatown branch, which is slated to include 110 new affordable housing units on the floors above.

“We’re excited to do the same with upcoming renovations to the Uphams Corner and West End branch libraries,” Wu said

The city also recently held a ribbon-cutting for a former police station in Mattapan that now includes 40 rental and owner-occupied units.

With space at a premium, city and state officials alike have looked to surplus property to help ease Massachusetts’s ongoing housing crisis.

Gov. Maura Healey announced in August that she’d freed up 450 acres of unused state land, all the better to build as many as 3,500 new housing units statewide.

A 2024 report card by the Boston Foundation, Boston Indicators and Boston University’s Initiative on Cities found that vacant public land could hold the keys to the construction of tens of thousands of new housing units.

“In a state facing a housing shortage of 200,000 homes by 2030, this utilization of public land in the Greater Boston Area has incredible potential,” the researchers wrote. “At higher densities, or with greater utilization of this vacant land, far more units could be built as well.”

Former City Councilmember Tito Jackson, who also worked on the issue, said much the same on Wednesday, observing that “we are not making any more land that I know of.”

With that in mind, the new ordinance is an opportunity to “align our values with our valuables in the city of Boston,” Jackson said.

Gretchen Van Ness, the executive director of LGBTQ Senior Housing Inc., which spearheaded The Pryde development, had some short and simple advice for city officials and her fellow advocates.

“All I can say is let’s do this,” she quipped. “Let’s do this everywhere.”

[Anthony D'Isidoro]

Harvards Fall Fest
Harvard Athletics, Food Truck Festivals of America
Saturday, November 1, 2025, 1:00 pm – 5:00 pm
65 N Harvard St, Boston

🎉 TOUCHDOWN FOR YOUR TASTE BUDS! 🎉
Hey Boston! This fall, we’re teaming up with Harvard’s Fall Fest for one epic Saturday at Harvard Stadium — and you’re invited!
🗓️ Saturday, November 1, 2025
🕛 Parking Opens: 12 PM | Gates Open: 1 PM | 🏈 Kickoff: 3 PM
🎟️ Just $15 (plus fees) for food fest access & the Harvard Homecoming Game v Dartmouth!
🍔 What’s On the Menu?
Feast from a lineup of fan-favorite food trucks, including:
Alabama BBQ
Berrysweets
Cap'n Mike's Tiki Fleet
Cousins Maine Lobster
Crepe Shop
Egg Roll Evolution
Piesons Pizza
Richie's Concessions
Say Cheese
Tandoor and Curry on Wheels
Trolley Dogs
Wanderlust Global Food
🛍️ Shop the Artisan Market
Browse local crafters & creators like:
Adult and Teen Challenge
Beer Can Candle Co
Boston Brisket Works
Coastal Chimes by Molly
Dancing Rose Designs
Ellie's Licorice Ropes
EVOL-EYE co.
Frankie’s Mercantile
Keepsake Charm Bar
La Folie Press
Linked Permanent Jewelry
Lunasea Jewelry
Murph Cutting Boards
Our Cheery Corner
Refugee Protection International - RPI
Simply the Best by Nicole
Soldier Solutions LLC
The Davis Limited Jewelry Collection
Ultra Dzolik LLC
WbyL
🎶 Live music, lawn games & fall fun for all ages
🍻 Craft beverages on hand
🧺 Bring your friends, your lawn chairs, and your appetite!
🚫 Sorry—no dogs allowed
🌧️ Rain or shine, we’re rollin’!
📲 Tickets & details:
https://www.gofevo.com/event/Foodtruckfest
💻 https://www.foodtruckfestivalsofamerica.com/cambridge-ma
📲 Be sure to click “Interested” or “Goin’” so you don’t miss new truck drops, giveaways, or updates!
Follow @FTFofAmerica on Instagram, Threads, TikTok, X, and Facebook.
#FTFA #HarvardFallFest #BostonFoodies #FoodTruckFestival #HomecomingEats #FallVibes2025

[Anthony D'Isidoro]

Hello Everyone,

 

Come this Saturday, an estimated 1.1 million Massachusetts families (one in seven residents) are expected to lose public food assistance benefits due to the ongoing federal government shutdown.

 

Of those, 32% are children, 26% are seniors and 31% are people with disabilities.

 

That includes close to 138,523 clients (21% of population) Supplemental Nutrition Assistance Program (SNAP) recipients living in the city of Boston.

 

The United Way of Mass Bay’s United Response Fund was established to rapidly provide resources to mitigate impacts from federal delays in SNAP benefits.  Project Bread's FoodSource Hotline is another good resource.

 

And here’s a list of food pantries in our community that need your financial support to meet this moment.

 

Let everyone know if there are other local pantries I’ve missed, or about any efforts you’re organizing to help.

 

Allston/Brighton Neighborhood Opportunity Center

https://bostonabcd.org/location/allston-brighton-noc/

 

Allston Brighton Food Pantry

https://abfoodpantry.com/

 

Tifereth Raphael Kosher Food Pantry

https://www.tiferethraphael.com/

 

Allston-Brighton APAC Food Pantry

https://www.foodhelpline.org/resources/allston-brighton-apac

 

West End House Boys and Girls Club

https://westendhouse.org/

 

Tony

[Anthony D'Isidoro]

Honan Allston Branch of the Boston Public Library

Join us for a fun and spooky showing of Tim Burton's The Nightmare Before Christmas (1993)! This classic stop-motion animated musical follows the residents of Halloween Town as they try to take over Christmas. Light refreshments will be served.

No registration is required.

Run time: 1 hour 16 minutes. Rated PG for some scary imagery.

[Anthony D'Isidoro]

Brighton Branch of the Boston Public Library

Come one, come all (ages 1-5) to a performance of Grumpkin by Nicola Edwards (illustrated by Sian Roberts) by the VBS Magical Players from the Veronica B Smith Multi Services Senior Center this upcoming Wednesday! Following the performance will be an activity for the children to participate in as well.

[Anthony D'Isidoro]

Brighton Branch of the Boston Public Library

Craft a chilling reminder of your own mortality! Or, if you just love Halloween, create a decoration you can use for years to come. We'll have mini wood tombstones to paint. All supplies provided. Keep in mind that acrylic paint has the potential to stain clothing.

SPACE IS LIMITED. Registration required: Email librarian Kris at kl...@bpl.org. You will need to *confirm* your registration the week of the event.

Adult craft night will take place Thursday, October 30, 6:30 to 7:30 PM at the Brighton Branch.

[Anthony D'Isidoro]

Hello Everyone,

I've been watching Steve and Fred since February 28, 2018, when they filed their Letter of Intent for the Allston Square Development Project which received BPDA Board approval on November 14, 2019.

On December 9, 2020, they filed their first Notice of Project Change "seek to clarify the breakdown of units and commercial spaces proposed,

properly identify the sites legal addresses as now recognized by the Boston Inspectional Services Department (“ISD”), amend the classification of some of the residential units from condominiums to rental units, and further describe the phased nature of the Project and accompanying mitigation agreed upon between the Proponent and the BPDA."  The Notice of Project Change was approved by the BPDA Board on June 10, 2021.

A Building Permit was granted on November 1, 2022.

On June 22, 2023, they filed their second Notice of Project Change "converting the previously approved dwelling units at the Project that are located in the buildings proposed for 8-12 Wilton St, 20 Braintree St, and 10 Highgate St from home ownership to rental units. The overall percentage of affordable units will increase from 14% to 17%. The minimum income levels of the residents eligible for these affordable units will be decreased".

The Notice of Project Change was approved by the BPDA Board on September 14, 2023.

On October 27, 2025, they filed their third Notice of Project Change "to reduce the parking programs at 1 Highgate St, 10 Highgate St, 20 Braintree St, and 8-12 Wilton St by lowering the number of off-street parking spaces or eliminating on-site parking entirely."

They want to build a hotel next door with no parking; you have Great Scott with no parking, 25-39 Harvard Ave with 58 spaces for 170 rental units.

We have to assume the MBTA plans to increase service levels given all the development projects in the pipeline for that neighborhood, right?

Being right down the street from the Mass Pike, how does the city plan to ensure that tenants who don't comply won't be chasing precious few on street parking spots.

If this gets approved, what next when you're holding a community hostage? Do we keep accepting City Realty's view of the world or do we find partners or buyers who are better positioned to finish Allston Square.

Tony

O’Kane Marketing Blog

Steve Whalen and Fred Starikov | 6 Boston Developers to Watch in 2025

From a chance encounter at a small estate agency to building one of Boston's most successful property empires—and one that truly gives back to the community. Steve Whalen and Fred Starikov show what happens when you spot opportunity everywhere others see problems.

NAME: Steve Whalen + Fred Starikov
COMPANY: City Realty

Steve, Fred, let’s start by taking it all the way back, would what you're doing now have made sense to your 16 year-old self?

Steve Whalen: In college I was a history major, thinking about law school but really undecided. I had an uncle in real estate, so that always intrigued me. I grew up in Maine but couldn't go back after college because there were no jobs. So I ended up in Boston working at a grocery store. A lot of real estate guys came in there and I’d chat with them. It was a bad economy, so they weren’t exactly like “Get in there, kid”. But I studied for my real estate license, started in rentals and moved up from there.

Fred Starikov: My mother actually tipped me off about how the rental business worked. I'd grown up in Allston and you couldn't miss the hundreds of real estate offices around Allston-Brighton. As soon as I had a chance I got my license. 

I thought I had a job lined up through a friend's older brother who had an office, but one of the partners nixed it, so that was a shock. Then I was driving home one day, past this little office in Cleveland Circle and figured I'd stop in. The guy immediately hired me—though later I found out he didn't have authority to hire anyone. But still, I just started going in. The owner wasn't around much so you had to figure it out for yourself how to do a deal. And that’s where I met Steve.

‍

What kept you pushing through before that first deal landed?

Fred: It took three or three and a half weeks before I made a rental. I was only 18 so no one took me seriously. All the clients were older. But once I broke the ice, everything changed. There was so much opportunity—I could do multiple rentals a day, and they were nice hits for a young kid.

Steve: Yeah, the office definitely had a lack of hiring standards when Fred and I got in. It was 240 square feet, maybe seven desks, but in summer there were 12 agents crammed in. They hired everyone who walked in. It was a fun time. That challenge with older clients was real though, we looked young. Fred especially looked ridiculously young!

‍

So you were mostly dealing with rentals early on too?
Fred: We were doing everything and anything to make money. Steve was already doing property management and that experience helped us move from rentals into sales. At that time it was managing and selling a lot of student housing—four to eight-bedroom units—which are really difficult properties to manage, but Steve was able to deal with it.

Steve Whalen: Yeah managing student housing was nuts. Every weekend it felt like they were trying to kill themselves. One time I went over and in the basement it looked like blood, like somebody had been tied up. I freaked out and called the cops. But it turned out they'd been filming a movie in the basement. There were endless stories like that, but it all gave me experience for when we started owning property.

Like Fred said, we were doing anything and everything to make money. The office owner had buildings he managed, and when his trash guy quit, I even took over that too.

‍

And so you guys were a team pretty early on there?

Fred: Yeah so I started in college during the dotcom boom. I'd do rentals in summer, then go back to school. Steve had already worked at the office, then went into commercial leasing at a large company before coming back to residential. After I finished college I went into rentals full-time and we teamed up shortly after at Green Line Realty, which is now long gone.‍

‍

Got it. So once you’re out of school and working full-time, how did things start to evolve?
Fred: We began leveraging the relationships we'd made with landlords. We started selling property for them and creating investment sales out of that. Even if it meant managing a building for a year, we'd make a big commission selling it later. The numbers were so good that landlords were compelled to invest, and we'd manage or resell it for them.

That built up our bankroll so we could start finding our own opportunities. We started buying condominiums and doing small conversions of existing properties.

Steve: Fred loved to live on the construction site. He'd buy a condo and I'd go over to see him. I remember looking over at a bathroom with no door, and a Ukranian guy was in there smoking while working. I was like, "Hey, what's up?" The place wasn't usable, but Fred was always in the mix.

Fred: Yeah, that was my first place—a studio on Commonwealth Ave near BC. My parents were ten minutes away, so for the couple of days the bathroom was down I showered at their house. 

The 2000 block of Commonwealth was so dead at night I didn't even have parking. I'd just double park my car overnight, get up early, and move it. I’ve racked up so many tickets doing this job over the years, visiting sites, driving around to meet clients, I’d sometimes leave the old ones on hoping they wouldn't give me another. Didn't always work.

Steve: I think he added it up once. It was like a hundred grand over his rental career. His car always had a bouquet of tickets on it.

‍

That’s funny. So you were both working at Green Line Realty. How long were you there before planning to go out on your own?
Steve: No more than two years. We had a call with the owner while he was skiing in France. We'd just crushed it that month, I think we grossed $100,000 in sales, so we offered to partner with him and grow together. He didn't see the value, so we moved on and opened another office.

Fred: We bought a dormant existing office around the corner, called City Realty Associates, and we changed the name to City Realty Group. There were two years left on the lease, but we knew we could make that back in a month or two and have a roof over our heads. We eventually bought the unit next door too, which was three or four times the size and gave us a proper office.

‍

So it's the two of you to start. How do you build the business?

Fred: At first we focused exclusively on sales—larger deals, bigger commissions. We filled the office with younger brokers, built a presence across the city, and grew smaller sales listings like condos.

We also sold our own small condo conversions through the office, giving the new brokers deals to cut their teeth on. A lot of offices actually spawned from ours—people worked with us for a few years then went out on their own and often we still did business with them. Plus we were opening more of our own offices.

Then after a few years, we had all these offices and properties popping up and realized it wasn't what we wanted. So we sold some of the offices and transitioned from brokerage to ownership.

‍

And managing brokers was just too much?
Steve: Yeah, it was like herding cats. Good ones stayed a year or two then left. We were always rebuilding the team. We got tired of it and decided owning real estate was the better path. The challenge was making that switch to what's essentially a different business while supporting ourselves during the transition.

How many years in were you when this switch happened?
Fred Starikov: Maybe four. By late 2007 into 2008, the crash hit. Before that, we'd built a pretty good portfolio in Lynn, Massachusetts. It was a long commute, but when Boston was too competitive, Lynn was where we could find larger properties. Some were mixed-use—retail and office as well as residential. We had successes, like taking a 50% occupied building to 98% and then selling it.

Steve Whalen: Before that we landed a 32-unit building in Brookline. We got it at a good price, but the owner wanted to back out after getting a higher offer from Harold Brown  the next day. There was some litigation, but we eventually settled. 

‍

How did you actually manage to hold that deal together?
Fred: The bank initially agreed to finance both the purchase and construction, then backed out of the construction and said we had to put more down. But we still had to close.

The litigation was resolved when we reached a settlement. As part of the agreement, the sellers kept their two units—about 4,000 square feet with beautiful city views. We adjusted the price accordingly, and everyone was satisfied with the outcome.

But we didn't have construction financing. We didn't have the cash to fix up all the units. It was a tight time—other investments weren't performing well either. We sold some assets, raised money, and focused on interior renovations.

‍

Was that a turning point in how you thought about what to renovate and what to leave alone?
Fred: Definitely. We cobbled it together and started selling the units as condos. Then we found out Brookline buyers often prefer to renovate themselves. We realized that for us, it wasn't worth doing a high-end renovation. Sometimes just painting, redoing floors, fixing common areas, and selling for a little less was faster and more profitable. It was counterintuitive, but it worked. Brookline was—and still is—a strong market.

‍

So selling that building gave you money to reinvest during the real estate disaster of 2008–2012. What did that period look like for you?
Steve: We got going before the crash in '08, but tightened our belts through that and came out able to buy a lot of property around Boston. We built up our portfolio quickly with residential—mostly three-families—by assembling partners and investors and buying distressed property across the city and beyond. Real estate wasn't sexy then. 

I remember standing in a foot of water in a basement of a three-family and we'd just bought 10 of these and thinking, are we doing the right thing? All the older landlords told us we were crazy. But we looked at the prices and thought, this is so cheap we have to figure this out.

At that time we got good at zoning, learning how to add value by getting approvals for more units. And then we started building. Without even noticing, we'd become a construction company.

What do you think separates developers who can scale by juggling multiple projects at once, and those who never do?
Steve: It's a lot of different skill sets—hiring the right people and realizing what teams you need. A lot of our people stay for either a couple of weeks or 15 years. We have stellar employees who've been with us many years, some growing into new positions. For example, our CFO started as an unpaid intern while he was at UMass getting his finance degree. He became a rental agent, then moved into the office, and now he's one of the best in the city. Mentoring and giving people runway brings loyalty—and great work.

‍

What do you think makes people stay with you for the long haul?
Steve: Everybody feels confident to have their voice at the table. There's a book we give to everyone who onboards—Team of Teams by Stanley McChrystal. He refined the approach in Iraq and Afghanistan, trying to get ahead of the problems they faced there. We onboard with that—it's about communication so information doesn't get lost, and making sure we get feedback from everyone. People feel comfortable speaking and making decisions. Once they have autonomy, the company's stronger—we're not answering a hundred thousand questions on things that are already handled.

Fred: It's really hard and expensive to scale. A lot of very talented landlord-developers purposely keep things small. Small staff, doing a lot themselves, operating their portfolio. Maybe they don't have the desire to grow—or they grow very slowly. We took a higher-volume approach, which means you have to scale, expand, hire and manage teams.

‍

Let's talk about some of the bigger projects in recent years. Was there one in the last 8–10 years that felt like a gamble?
Fred: I wouldn’t say there’s one that felt like a huge gamble, it’s more that we’ve naturally progressed to larger deals—and moved into other commercial sectors. We still do smaller deals.

We have a hotel conversion of an office building we're working on, with the opening about two and a half years away. We also own some bars and restaurants, including a high-end sushi restaurant in Chestnut Hill called XOXO Sushi. We partnered with an amazing chef. It opened about 15–17 months ago and he's already received a lot of awards and accolades.

We also bought a portfolio of bars from a legendary bar owner, Henry Vara. At one point he owned 60–70 liquor licenses in Boston, plus clubs and bars. He was even a co-owner of Studio 54 in Florida. He passed away a few years ago. From him we got some famous dive bars in Boston, and a couple others we later sold off.

That’s very cool. And you’re still investing in offices too, even given remote work?
Steve: Yeah. We still think offices are necessary so people can learn by osmosis, have real team interactions, and bring younger people up in the business. So there's a place for offices. Will it be a reduced market? Yeah. What I fear in Boston is a doom loop where downtown gets uglier and uglier, we're hoping the city takes that seriously with promotion of retail tenants and keeping the city alive through transition.

In class B real estate, which is where we're investing, a lot is getting converted. Not much new is being built. We think supply will reduce and that'll tighten things up eventually. 

‍

Can you share a bit more on your approach or strategy there?
Fred: We're buying commercial office buildings in downtown and other towns. Some of them we're converting to other uses, but others we're keeping as office. A lot of owners get stuck where they don't have money to do the buildout for tenants or to pay the broker. They can't really rent their space. They're in a catch-22. We're buying these office buildings at 50% of what the current owner paid. Sometimes these are equivalent to 20-years-ago pricing.

It's a precarious market because some buildings have no path. There's too much competition, too much vacancy. If you're in an office park in a suburban town, for example, and nine out of nine of the buildings around you have 50% vacancy and tenants looking to leave, you've basically got a building you're paying taxes and operating expenses  for without tenants. You have to be smart about what you buy.

‍

I saw on your site it mentioned being a partner to communities. How do you approach that?
Steve: It’s important to us to keep the flavor of the town, so we always want to work with local people and local businesses. For example, Orchard Skate—a respected Allston skateboard company—left for the North End. We courted them back to Allston for one of our projects because they add so much to the area. We also work with local artists. We commission paintings for all our buildings—each floor has a piece. It adds vibrancy and you can see it in the results. Rentals or sales move quicker after that. Listening to what people want in the neighbourhood is key, and it helps support local people too.

City Kids came out of that. What first sparked the idea—and how has it grown since?
Steve: Once we started making a little money, we wanted to give back. The millennials on our team didn't just want jobs, they wanted to contribute, and we really liked that. In the beginning we didn't know what direction to take. But I’d notice in some of our apartments there would be kids without books or computers at home—no fertilizer for intellectual growth. So we started small, buying every child in our apartments a subscription to National Geographic, thinking it might spark their curiosity and discover something that interests them.

From there we looked at other ways to engage. We support all kinds of sports, and because a few people in the office surf, we started surf camps up in New Hampshire at Cinnamon Rainbows. We've been doing that for about 10 years, bringing city kids up there. Some don't even know how to swim—it blows their minds. Even a simple drive out of the city to try something new is huge.

‍

That’s awesome. What’s the main focus for City Kids today?
Steve: Right now we're focused on financial education. Our mantra early on was that financial education is more important than algebra, because so many kids don't have those basic skills and they fall behind. We've embedded in a number of public schools to engage kids. We have someone who teaches the curriculum twice a week for open periods, and students sign up. It's been really good. At Brighton High, average attendance is 50%, and the ones who show up aren't always engaged. It's eye-opening. Our hope is that Boston Public Schools adopt it as a curriculum once they see results.

We're also focused on arts. They've been neglected, but we believe they're essential for well-rounded development. We've teamed up with local artists for seminars and projects with kids. One project connects with Nepal. In Nepal, if a mother goes to prison, her kids go with her. Conditions are terrible—disease, trafficking, no support. A woman there takes the kids out and puts them into group homes and schools. We've been supporting her for nearly 10 years. Now we're planning an arts collaboration between artists in Nepal and Boston, with kids from both places.

Anything under City Kids you haven't done yet that excites you?
Steve: You just have to know your limitations. Right now, it's a good size—manageable. We've got people working from all kinds of disciplines—education, finance, arts. Finding the right person with the right passion. For example, in our Nepal–Boston artist exchange, we want a good videographer to document it. Boston's full of talent—it's just about finding the right people who get the project.

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Looking ahead—how do you see the trajectory?
Fred: We focus on multifamily residential, rental or condo. Like Steve mentioned, there's been a lot of opportunity in offices, although very few deals make sense right now with high interest rates and construction costs. We've still managed to find enough worthwhile deals, sometimes with conversion opportunities. And then there's City Kids, which we’re always excited about and proud of, so we want to keep scaling the impact of that.

[Tim McHale]

Great points Tony.   I trust the neighborhood will echo your points in the comment period.  Thanks.  Tim

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[David Strati]

Looks like City Realty is like most other developers. Are the affordable apartments really affordable? Although the City kids program seems like a step in the right direction.

Dave

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[Anthony D'Isidoro]

BC Task Force Meeting
Boston Planning Department
Thursday, October 30, 2025, 6:30 pm – 8:30 pm
Description:
The Planning Department is hosting a Task Force Meeting to discuss their recently filed Boston College Institutional Master Plan https://www.bc.edu/content/dam/bc1/offices/govt-comm-aff/pdfs/10-10-2025%20BC%20IMPNF%20for%20Renewal.pdf Renewal with No Changes for the period of 2025-2029.
How to Participate
Please register for the meeting using the following Zoom link:
bosplans.org/BCTaskForce1030
Meeting ID: 161 937 6138
Toll-Free Call-in Number: 160 282 3355

Email Contact: nick....@boston.gov

[Anthony D'Isidoro]

[Anthony D'Isidoro]

[Anthony D'Isidoro]

Warrior Ice Arena

HALLOWEEN FUN LINEUP 🎃👻
Friday, October 31st | 9pm - 9:50pm:
Halloween Costume Rock 'n Skate - We've got the perfect Friday night activity for post-trick-or-treating!
Saturday, November 1st | 11:30am - 2pm:
Spooktacular Membership Event — costumes, skating, snacks, and pumpkin decorating fun for all!
Skating from 11:30am-12:20pm
$10 per Person (Must be a member)
Not a member? Join today to take advantage of this event and plenty of other perks!

[Julie Kenny]

Who owns the land once the affordable housing is built?  Is this a 99 year ground lease from the City or are you handing over the land at no cost and a developer owns and runs it after?  That is not clear in the ordinance.

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