Real estate

Priti Paul ‘90, director of Apeejay Surrendra Group, and her sister Priya, chairperson and executive director of Apeejay Surrendra Park Hotels, are honored on Forbes’ list of “Women Hospitality Leaders Who Should’ve Been In The Room,” by Jacques Ledbetter. Paul has led Apeejay’s “real estate and design work and helped shape projects across the family enterprise,” writes Ledbetter. “Together, they [Priti and Priya] represent the ownership, design and operating sides of hospitality in India.”  

Prof. Albert Saiz speaks with Boston Globe reporter Andrew Brinker about the barriers to homeownership in the United States, specifically in the Greater Boston area. “Unless we do something about housing stock — building, building, building — this is a dangerous situation for working class folks who used to depend on housing as their main way to accumulate wealth,” says Saiz.

Boston Business Journal reporter Grant Welker spotlights Biogen's groundbreaking ceremony for its new headquarters in MIT’s Kendall Common development. "This area is the most perfect place to do it, because you have some of the highest levels of ingenuity, innovation and energy around the biotech industry, and not to mention partnerships with academic excellence," said Nicole Murphy, Biogen’s executive vice president for pharmaceutical operations and technology." It was absolutely critical to why we feel we want to be here."

Earlier this week, Biogen celebrated the groundbreaking for the company’s new headquarters in MIT’s Kendall Common development, reports Catherine Carlock for The Boston Globe. “When a company as influential as Biogen breaks ground on the new global headquarters, it is an unmistakable vote of confidence — confidence in Massachusetts, confidence in Cambridge, and confidence in Kendall Square, and confidence in the future," said MIT President Sally Kornbluth. “It is on us, on us in Massachusetts, to find new ways to make sure this amazing ecosystem can maintain its record of trailblazing science and transformative treatments and cures.”

Prof. Albert Saiz speaks with Boston Globe reporter Andrew Brinker about the economics of homebuying and why the Massachusetts homebuying market is so challenging. “The gap between what people make and what homes cost is completely outrageous,” says Saiz. “And this data does not even represent the situation for working-class families who are making minimum wage. A large portion of the state’s population cannot afford to buy a home here, which is not how a housing market is supposed to function.”

Biogen will move its headquarters to a new facility at 75 Broadway in MIT’s Kendall Common development, reports Greg Ryan and Hannah Green for the Boston Business Journal. “The lease is one of the most significant life sciences real estate transactions in Greater Boston,” they write. 

Biogen will move its headquarters to MIT’s Kendall Common development in 2028, reports Catherine Carlock and Jonathan Saltzman for The Boston Globe. “Biogen has been a foundational presence in the Massachusetts life science ecosystem for close to half a century,” says Governor Maura Healey. “We are thrilled to see them begin a new era in our state.”

Prof. Sarah Williams speaks with Newsweek reporter Micah McCartney about how China’s construction boom lead to largely uninhabited developments dubbed “ghost cities”. Williams explains: “They needed a return on their investment, so they opened up new land and new loans for overleveraged real estate developers, so those developers could use these loans to pay back previous loans. The easy way to describe it is that it is a bit of a Ponzi scheme."

Diane Hoskins '79, a member of the MIT Corporation, has been named a CNBC Changemaker for her impact on the business world, reports Ian Thomas for CNBC. “Over her more than three-decade career at Gensler, she has risen up the firm’s ranks to now serve as its global co-chair alongside Andy Cohen, who Hoskins shares long-term strategy and day-to-day operations with and previously served as co-CEO with for nearly two decades,” writes Thomas. “Hoskins has also been at the center of the discussion around how workspace design intersects with employee performance and engagement, overseeing Gensler’s Workplace Survey and influencing how the industry at large designs offices and other spaces.” 

Mayor Michelle Wu has named Prof. Kairos Shen as Boston’s new city planning chief, reports Kelly Garrity for Politico. “Shen previously served as city planner under the late Mayor Tom Menino, and touts more than two decades of experience at the Boston Redevelopment Authority on his resume,” explains Garrity. 

Mayor Michelle Wu has named Prof. Kairos Shen as Boston’s new Chief of Planning, reports Boston Herald. “I’m thrilled to welcome Kairos into leadership of Boston’s Planning Department and all the critical functions shaping the built environment for affordability, equity, and resilience,” says Wu. “As a longtime friend and advisor, Kairos brings an unparalleled knowledge and expertise of this work and our communities.”

Prof. Kairos Shen has been named Boston’s new Chief of Planning, reports Jon Chesto for The Boston Globe. Shen, who previously served as Boston’s top city planner for two decades, “brings tremendous design expertise and a deep understanding of Boston’s distinct neighborhoods and factions,” writes Chesto. “I love the city and I spent many years serving it,” says Shen of his appointment. “I think being able to be more reflective and having experience outside of City Hall and looking at cities all over the world, I hope I can bring [a] kind of greater wisdom that I didn’t have when I left City Hall.”

WHDH reporter Polikseni Manxhari spotlights the Kendall Square “Rollerama,” an outdoor roller-skating rink created by MIT. The rink “offers free skate rentals, free lessons, live music, vendors, concessions and more,” explains Manxhari. “It’s not just a roller skating rink,” says Kathryn Brown, director of real estate at MIT’s Investment Management Company. “There’s a lot of people that come into this space and enjoy just the music and being outdoors.” 

Rollerama, a pop-up roller skating rink at Kendall Common, has become a “corner of liveliness” this summer, providing the public with free fun and art in the form of a new mural by Massiel Grullon, reports Izzy Bryars for The Boston Globe. “We thought it could help people do something fun together, and start to give people a sense of what the Kendall Common build out will be like,” says Sarah Gallop, director of MIT’s Office of Government and Community Relations. 

WBZ NewsRadio’s Emma Friedman visits Rollerama, a free, outdoor pop-up roller skating rink that’s “all about bringing the community together and having fun in the space.” Now open for the summer in Cambridge's Kendall Square, Friedman reports that Rollerama at Kendall Common was put together by MIT's real estate group to bring the community to the newly-acquired space on the corner of Broadway and Third Street. “It’s been such a hit,” exclaims Sarah Gallop, director of government and community relations. "Over the last decade, MIT's been focused on bringing increased vibrancy to Kendall Square."