"Novartis will expand in Cambridge"

The pharmaceutical giant Novartis is planning to to build a new facility at 181 Mass Ave, Cambridge on land leased from MIT.


This May 8th Boston Globe article by Casey Ross demonstrates the desirability of Cambridge to the Biotech and the Big Pharma industry. Over the years Kendall Square has become a worldwide epicenter for research and development in the lifesciences. Proximity to and partnerships with MIT, Harvard and the local hospitals are a big part of this appeal.


"We're committed to Cambridge. This is a long-term investment," said Mark Fishman, president of the company's institute for biomedical research. "We have found it particularly beneficial to have the relationship with MIT, Harvard, and the hospitals in the neighborhood."

To me, this further demonstrates the appeal of Cambridge and the demand for Cambridge real estate. Novartis already has about one million square feet of space in Cambridge, much of it in the former Necco factory on Mass Ave.

See the full article here

Pending home resales up again

On the national scene:

Boston Globe
Courtney Schlisserman and Sho Chandra
May 5, 2009

WASHINGTON - Pending sales of US existing homes posted their first back-to-back gain in almost a year in March, and construction spending ended a six-month slide, spurring a rally in stocks......

"People are worrying a bit less about a depression and starting to see signs of recovery," said James O'Sullivan, a senior economist at UBS Securities LLC in Stamford, Conn."

see full Boston Globe article:

http://www.boston.com/realestate/news/articles/2009/05/05/pending_home_resales_up_again/

$8,000 Homebuyer Tax Credit

This website from the National Association of Home Builders has good info about the $8,000 Tax Credit:

http://www.federalhousingtaxcredit.com/2009/index.html