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Boston Planning Board Okays Tax Breaks on Four Residential Projects
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The Boston Planning & Development Agency board has approved tax breaks for four residential developments totaling 1,400 units, reported the Boston Business Journal. The proposals make official a proposal made last month by Mayor Michelle Wu’s administration, with a combined $31 million in tax breaks to two Allston developments and others in Brighton and Charlestown. Wu has proposed spending upwards of $100 million on such tax breaks.

The four projects include One Mystic Ave. in Charlestown, 22-24 Pratt St. in Allston, 83 Leo M. Birmingham Pkwy. in Brighton and Allston Yards Building D. The Wu administration has said it chose those developments because they already received permitting approval and needed only tax aid to become financially feasible.

The incentives will begin only after construction is complete, the Business Journal reported. They can be in place over a five- or 10-year period, giving developers flexibility.

The post Boston Planning Board Okays Tax Breaks on Four Residential Projects appeared first on Connect CRE.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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