Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Milton J. Valencia and Tim Logan Globe Staff January 14, 2019 In the thick of an affordable housing crisis that has taken hold across Greater Boston, city councilors have proposed levying fees on high-end real estate deals to help pay for more housing — part of a bold and controversial movement across the region to tax developers who have been profiting off of a historic building boom.The proposal would set a tax of up to 6 percent on many commercial and residential sales over $2 million and establish a “flipping” tax of up to 25 percent on some properties that are sold twice within two years. It’s a bid to stem speculation and profiteering in Boston’s red-hot real estate market, the councilors say, and could raise anywhere from $175 million to $350 million a year. “We are in a crisis,” said City Councilor Lydia Edwards, the … [Read more...] about Amid housing crunch, city officials propose new real estate taxes on ‘flipping’ and sales over $2 million
Leading real estate
Real estate blockchain set to go live in early ’19
New York-based ShelterZoom plans to launch a real estate application that will lets buyers and sellers transact deals over a blockchain-based network, which could make purchasing a house as easy as pressing a button on a smartphone or tablet.Set to go live in the first quarter of 2019, the application allows sellers, buyers and real estate reps to see all offers and acceptances in real time online. Real estate agents, along with clients, can also access property titles, mortgages, legal and home inspection documents through the Ethereum-based encrypted blockchain ledger."Our current platform is already helping agents, buyers, sellers and renters make the big leap to technology's present, and we're excited to initiate another industry sea change in early 2019," Chao Cheng-Shorland, ShelterZoom's CEO and co-founder, said in a statement.The start-up has been piloting its application with real estate firms over the past year; it's now being tested by more than 90 brokerages … [Read more...] about Real estate blockchain set to go live in early ’19
Real estate transactions: Big projects on tap for Missouri City, Baytown
By Katherine Feser Published 7:00 am CST, Friday, December 7, 2018 Chicago-based Logistics Property Co. plans to develop CityPark Logistics Center on 97 acres at the northwest corner of Beltway 8 and U.S. 90 in Missouri City. The project will have 1.7 million square feet in seven buildings upon completion. less Chicago-based Logistics Property Co. plans to develop CityPark Logistics Center on 97 acres at the northwest corner of Beltway 8 and U.S. 90 in Missouri City. The project will have 1.7 million square feet in ... more Photo: Logistics Property Co. Photo: Logistics Property Co. Image 1 of / 3 Caption Close Image 1 of 3 Chicago-based Logistics Property Co. plans to develop CityPark Logistics Center on 97 acres at the northwest corner of Beltway 8 and U.S. 90 … [Read more...] about Real estate transactions: Big projects on tap for Missouri City, Baytown
Microsoft’s CTO of AI exits for real estate brokerage Compass
Joseph Sirosh, Microsoft's Chief Technology Officer of AI, is leaving the company to join real estate firm Compass. In his new role as CTO of Compass, Sirosh will focus on leading a team to develop "AI-powered products" for the company's real estate ecosystem, Compass announced in a tweet this week (via ZDNet). "I'm super excited to join Compass," Sirosh said in a tweet today. "It's bringing agents and technology to empower us in one of the most stressful & consequential transactions of our lives - buying or selling a home. One of the fastest growing platforms that I know, and an inspiring and diverse leadership." Sirosh has spent nearly six years at Microsoft, most recently as the Corporate Vice President and Chief Technical Officer of AI, a role he took on in June. Immediately prior to that, he served as Corporate Vice President of Microsoft's Cloud AI Platform, where he focused his work on cognitive services, Azure Bot Service, Azure Machine Learning, and Microsoft's Bot … [Read more...] about Microsoft’s CTO of AI exits for real estate brokerage Compass
Amazon’s HQ2 in Virginia Leaves a Real Estate Firm Poised to Cash In
Sections SEARCH Skip to content Skip to site index Technology Subscribe Log In Log In Today’s Paper Technology | Amazon’s HQ2 in Virginia Leaves a Real Estate Firm Poised to Cash In Supported by ByJulie Creswell Nov. 14, 2018 Two years ago, Matt Kelly couldn’t have known that a failed merger involving his real estate firm would propel him toward a central role in Amazon’s expansion plans. In May 2016, Mr. Kelly and his firm, then known as the JBG Companies, had an agreement to merge with a large real estate investment trust based in New York. But shareholders of the New York fund balked, and the deal collapsed. A few months later, JBG, based in Chevy Chase, Md., had a new partner. In a deal valued at $8.4 billion, JBG merged with a Washington unit spun off from the real estate behemoth Vornado Realty Trust. The new company, JBG Smith, with Mr. Kelly as chief executive, became the dominant … [Read more...] about Amazon’s HQ2 in Virginia Leaves a Real Estate Firm Poised to Cash In