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Speaker 1: It's NIC's Eyes with Dan Ray. I'm going easy Boston's

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Speaker 1: News Radio.

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Speaker 2: Thank You Medicine. It is Bradley j for Dan Tonight

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Speaker 2: on Night's Side. I know you're gonna want to call

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Speaker 2: in on this one, so make sure you call in

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Speaker 2: and join the conversation at six one, seven, two, five, four,

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Speaker 2: ten thirty. There's development exploding all over Boston. Is it

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Speaker 2: affecting your neighborhood? It might might be things going on

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Speaker 2: you don't know about yet, maybe you'll find out about

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Speaker 2: them right now. Might affect your life, your property values,

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Speaker 2: your commute, you're well, your everything. Sixteen major developments at least,

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Speaker 2: and we have an expert on these developments. Here's how

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Speaker 2: I found Joe Turco. As I tell, as I tell

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Speaker 2: you often, I'm a YouTube person. I get the paid

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Speaker 2: version of YouTube so for obvious reasons, and I love

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Speaker 2: it because it's entertaining and I learned things and I

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Speaker 2: can really drill down on the areas I want to

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Speaker 2: know about, like local, local things. And then the algorithm

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Speaker 2: learns of all about Bradley Jay, and the algorithm threw

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Speaker 2: me this thing on development in Boston. Watch the video.

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Speaker 2: Excellent excellent YouTube video and an excellent channel, and I said, boy,

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Speaker 2: I got to talk to that guy. Happily I have

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Speaker 2: the power to find him. Producer Karen found him. His

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Speaker 2: name is Joe Turco. He's a Boston realtor and owner

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Speaker 2: of the Turko Group broken by e XP Realty. And

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Speaker 2: he's gonna tell us about these developments. Will probably go

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Speaker 2: from the biggest to the smallest, just in case we

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Speaker 2: don't have to time to get all of them in

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Speaker 2: the most impactful to the lesser impactful. And you probably

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Speaker 2: have opinions, if not about these developments, about development in general.

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Speaker 2: You like it, You like your little town on the

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Speaker 2: way it is. You don't want it disturbed, or maybe

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Speaker 2: you want some improvements, or maybe if there's development, you

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Speaker 2: have a certain way you want it. You want certain

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Speaker 2: things protected. So Joe's gonna tell us all about that

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Speaker 2: now here. He is live in the studio, just like

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Speaker 2: you like it. Ladies and gentlemen, presenting Joe Turco. How

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Speaker 2: are you doing.

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Speaker 3: I'm doing great.

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Speaker 4: Thank you so much for having me, Bradley. It is

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Speaker 4: an honor and a privilege. And can I say you're

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Speaker 4: a very distinguished looking gentleman. I know this is the radio,

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Speaker 4: but you have not just the voice for radio.

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Speaker 5: But.

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Speaker 4: For radio, because that's that's why I was making sure

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Speaker 4: not to come on man like you.

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Speaker 2: Know, it look like if I take I wear a

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Speaker 2: bandana and a hat. I shouldn't be wearing either of those.

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Speaker 2: Now I'm wearing a hat now. But you know who

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Speaker 2: I guest said, I look like the other day, Stanley Tucci.

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Speaker 2: Can you see this Standucci?

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Speaker 4: I can see it a little bit, but a little

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Speaker 4: bit means not really. Well, I was gonna say, I

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Speaker 4: see the upgraded version because he's got a little less

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Speaker 4: refinement than I'm seeing here. And can I tell you

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Speaker 4: I would pick you over him any day?

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Speaker 2: Thank you very You're very kind. I will take this,

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Speaker 2: you know. I it would be great to be a

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Speaker 2: crust between Brad Pitten. I don't know, you know, but

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Speaker 2: I'll take Stanley Tucci. So and first, most compliment on

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Speaker 2: you on your videos. Your YouTube channel is very professionally done.

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Speaker 2: It gets a lot of visits, and you have cool equipment.

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Speaker 2: And I'm actually going to speak to you at another

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Speaker 2: date about the equipment you're using. Get some advice from

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Speaker 2: you on your YouTube channel. It's that good. You might

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Speaker 2: want to visit it. How can people visit it?

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Speaker 4: Yeah, if you want to visit it, you have two

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Speaker 4: easy ways. You can either go to my website which

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Speaker 4: will have direct links, which is living in Boston dot com,

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Speaker 4: or if you just type in YouTube search for living

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Speaker 4: in Boston, you're going to see this big, energetic guy

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Speaker 4: with a green you know, kind of glow around him,

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Speaker 4: kind of like the Hulk, but you know, more Celtics friendly,

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Speaker 4: and you just click on that.

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Speaker 3: That's me, that's me.

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Speaker 2: I didn't I didn't notice the green. Oh, I see

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Speaker 2: the green. Yes, And I was shocked by the level

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Speaker 2: of the development taking place, and then said, boy, night

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Speaker 2: side audience is going to want to know about all

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Speaker 2: this because there's so much going on that ooh, you

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Speaker 2: know what kind of it's huge, But you don't really

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Speaker 2: know what's going on till all of a sudden you

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Speaker 2: show up at South Station and what, oh my god,

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Speaker 2: all of.

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Speaker 4: A sudden there's a shadow. You're like, wait a second,

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Speaker 4: used to be a little bit warmer. Now now all

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Speaker 4: of a sudden, there's this thing block in the sun

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Speaker 4: because it's just so big.

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Speaker 2: Yes, and by the way, not all development, of course,

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Speaker 2: has to do with where you live. There's certain development

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Speaker 2: like South Station, which is the transportation which affects hundreds

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Speaker 2: of thousands of people as they travel through the area.

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Speaker 2: It affects things. For example, you may or may not

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Speaker 2: know this. You may or may not know this, Joe

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Speaker 2: that maybe today or tomorrow this setting up toll gates,

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Speaker 2: so you won't even be able to get into the

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Speaker 2: track area without a ticket to click in this machine.

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Speaker 3: Yep.

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Speaker 2: So that's a little something to know.

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Speaker 4: There's that, And I mean, the really exciting thing for

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Speaker 4: a lot of people is the fact that the new

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Speaker 4: speed rail opened from Boston to New York City and

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Speaker 4: it is a whopping forty five minutes faster.

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Speaker 2: Yeah.

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Speaker 4: I know, I know a lot of people are like,

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Speaker 4: wait a second, you said speed rail for five minutes. Yeah,

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Speaker 4: I mean, it's it's funny because if you look internationally, uh,

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Speaker 4: that would be a snail's pace. But for us, that

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Speaker 4: is a huge upgrade, and that forty five minute gain

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Speaker 4: is mostly due to you know, it being new, running

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Speaker 4: a little slower. I'm gonna bet by end of twenty

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Speaker 4: twenty six you're gonna get a full hour earlier all

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Speaker 4: the way from Boston New York City. And how's that tie?

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Speaker 4: Into South Station. Well, it's one of our biggest hubs

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Speaker 4: of how people transport around the area.

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Speaker 2: I wish the SLO was not so expensive, though, I

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Speaker 2: wish something could be done about that.

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Speaker 4: Well, it's funny that you mentioned that, because when people

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Speaker 4: talk about development, a lot of times, the biggest issue

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Speaker 4: or opinion they have is around the cost of what's

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Speaker 4: being built or developed, whether it's for residential or some

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Speaker 4: of the other developments. Everybody's saying, well, hey, like, what

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Speaker 4: can the average American, what can the average Bostonian, the

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Speaker 4: average Massachusetts person do to be able to stay where

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Speaker 4: they grew up if all that's being put up is

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Speaker 4: these luxury developments, correct, I can't afford that?

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Speaker 3: Why do I care?

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Speaker 4: Well, there's that trickle down effect, and in this case

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Speaker 4: it's actually real because Okay, some of those condos, they're

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Speaker 4: going to pay massive amounts of taxes which provide programs.

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Speaker 2: Yeah, you know what. I know you say that, but

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Speaker 2: that's at least for me, and I bet for a

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Speaker 2: lot of the folks out there, I'm never going to

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Speaker 2: see that money. I'm never going to see a dime.

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Speaker 2: My life's not going to improve at all. They're not

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Speaker 2: going to fix the roads, see, which comes from gas

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Speaker 2: tax exactly.

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Speaker 4: And that's the thing, is like understanding where the different

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Speaker 4: improvements come from. And yeah, the property taxes are going

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Speaker 4: to pay for things related to that, whereas the gas taxes, Like, hey,

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Speaker 4: you know, I don't want the gas taxes to go up,

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Speaker 4: but if they could promise that I'm not going to

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Speaker 4: lose a wheel going down anywhere if it actually got fixed,

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Speaker 4: oh I would I would pay extra for that.

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Speaker 2: So New England, yep, tell me this. Are you in

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Speaker 2: favor of the development, let's say, in your town or

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Speaker 2: in the city of Boston or the greater Boston to

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Speaker 2: bring in more revenue at the expense of the of

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Speaker 2: the essence of the city. It's would you rather keep

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Speaker 2: Boston like it is, charming, old school European city or

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Speaker 2: would you rather sell it out to get some revenue

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Speaker 2: that you really never feel. I guess you could probably

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Speaker 2: tell them where I'm coming from. And you know what,

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Speaker 2: Before we get into the actual stuff, let me complain

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Speaker 2: a little bit more. I don't know why, folks in builders,

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Speaker 2: developers and system must have to do with the cheapness

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Speaker 2: of it, but glass buildings are so boring and so

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Speaker 2: generic and so on. Boston. Shame, shame, shame on anybody

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Speaker 2: that's involved with allowing the erection of these huge, glass

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Speaker 2: boring buildings. It just looks like big Hartford, like Hartford,

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Speaker 2: only big, which is sad. I want to see character,

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Speaker 2: even if it costs more. I don't care.

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Speaker 4: Wait, are are we taking shots at the seaport already?

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Speaker 3: We're taking it early.

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Speaker 2: If that's if they want to perceive it as a shot,

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Speaker 2: they may come on Seaport. It's not too late. You're

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Speaker 2: going to do more building from now on. Try to

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Speaker 2: have a little character. There's the the big building that

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Speaker 2: they those buildings out behind the Haymarket station, the bank building,

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Speaker 2: big glass building. Birds fly into it and die. Yep,

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Speaker 2: it's a bummer. This is Boston. Let's try to let's

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Speaker 2: pay attention a little more, keeping it Boston. I know

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Speaker 2: there are these negotiations that take place. I know we

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Speaker 2: want revenue, but just say no, say you want to

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Speaker 2: build here. That's cool. This is Boston. These are the rules.

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Speaker 2: If you don't like them, go somewhere else. We're fine here,

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Speaker 2: We're really fine. That's That's That's where I'm at. Maybe

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Speaker 2: I'm wrong. Six one, seven, two five. Now, I we'll

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Speaker 2: take a break and we'll get to this actual development.

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Speaker 2: We'll start with the biggest one. Just give them where

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Speaker 2: is the biggest one?

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Speaker 4: Well, I mean I think it's broken into a couple.

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Speaker 4: I mean we have obviously.

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Speaker 2: I just want to tea just to tease.

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Speaker 4: Yep, yep, the Bullfinch Crossing over you know, the government

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Speaker 4: Sarah Garaigera.

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Speaker 2: All right, we'll do that one first coming up on wb.

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Speaker 1: Z, it's Night Side with the d Boston's news radio.

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Speaker 2: Now we'll get into the meat of this our section

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Speaker 2: segment with Joe Turco talking about the development huge development

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Speaker 2: areas in the Boston area and get some details on

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Speaker 2: what's going on there, because none of us really know

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Speaker 2: until it's done. So Joe, Bullfinch, the building in the

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Speaker 2: Bullfinch Plaza? Did you call it?

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Speaker 3: Bullfinch Crossing Crossing?

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Speaker 2: All right?

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Speaker 4: Talk about that, Okay, So what that is is it's

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Speaker 4: a multi phase redevelopment, and what we're seeing is that

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Speaker 4: key components have been delivered it in more phases are planned.

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Speaker 4: So what I would kind of say about it is

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Speaker 4: it's like a two city block transit oriented redevelopment. It's

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Speaker 4: where we're getting in there, we're making it better.

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Speaker 2: Where is it exactly?

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Speaker 3: So it's right where Government Center garages?

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Speaker 2: Okay, took me a minute there.

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Speaker 3: Yep, No, that's okay.

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Speaker 4: I mean it's not just like one building though. It's

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Speaker 4: like two point nine million square feet and it's across

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Speaker 4: two blocks, two blocks, two blocks. I mean, this is

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Speaker 4: pretty big.

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Speaker 2: And it's two square like two by two yeah, two

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Speaker 2: big blocks by two blocks yep, which is more than

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Speaker 2: two blocks. Well yeah, well that's big. I mean it

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Speaker 2: makes a difference. It's two blocks long and two blocks deep.

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Speaker 4: Yeah, I mean it's two point nine million square feet,

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Speaker 4: so I mean we're we're talking about a little bit

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Speaker 4: of acreage. But that's the thing is, it's basically restitching

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Speaker 4: Government Center into the city fabric. It's making it where

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Speaker 4: instead of being like ooh, it's like.

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Speaker 2: Oh wait a minute, was it before?

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Speaker 3: I mean depends on your Outlook.

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Speaker 2: What streets are you talking about it? Because I don't.

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Speaker 2: I can't think of anything really ugly down there.

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Speaker 4: I mean, it's not that it's ugly, it's more so

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Speaker 4: just that it wasn't exciting. And I'm not talking about

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Speaker 4: glass tower exciting because we both know you and I

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Speaker 4: agree on this. Yeah, glass towers are not exciting. It's

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Speaker 4: probably the boringest thing you can see. I'm just saying

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Speaker 4: like it hadn't been given any shine recently, and now

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Speaker 4: it's getting shine.

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Speaker 2: So what's it going to look like? How tall is

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Speaker 2: it going to be, is it going to describe its walkability,

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Speaker 2: et cetera. And will there be I'm sure there will

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Speaker 2: be retail. I'm sure there'll be everything. And if you

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Speaker 2: happen to know, maybe you don't know what did who's involved?

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Speaker 2: Did the developer, what did the developer have to kick

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Speaker 2: in for the city.

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Speaker 4: I don't know how much they had to kick in.

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Speaker 4: So I'm not gonna, you know, go there, But you know,

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Speaker 4: you got to look at it as this. It's where

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Speaker 4: they're putting in four new high rise in midrise buildings,

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Speaker 4: and you know, obviously they're gona have great views. It's

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Speaker 4: going to show the harbor, it's going to show the

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Speaker 4: north end, the financial.

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Speaker 2: District, and the idea how high they are.

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Speaker 4: So it's funny that you ask about that. The city

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Speaker 4: just changed the zoning and the air regulations to now

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Speaker 4: allow seven hundred foot buildings.

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Speaker 2: So what was it before?

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Speaker 4: Before it was significant less. I don't remember the exact amount, okay,

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Speaker 4: but it's it's gone up by about one hundred feet.

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Speaker 2: One hundred feet. That's good, good information, perfect good good information.

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Speaker 2: And seven hundred feet. Yeah, so what do you figure

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Speaker 2: one story is ten feet? You're in a biz you

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Speaker 2: must know.

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Speaker 4: I mean, that's one of the you know, more obscure ones.

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Speaker 4: If I'm going to be honest, I stick to the

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Speaker 4: marketing and the selling.

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Speaker 3: But let's le let's se that's all right, We'll just

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Speaker 3: we'll just ball a park.

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Speaker 2: It ten feet is a lot, so let's let's call

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Speaker 2: it ten feet. That would be seventy stories. I mean,

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Speaker 2: if we're more than ten feet, maybe fifty fifty stories.

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Speaker 4: Yeah, I mean, if we were spit on, maybe we

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Speaker 4: say each story is between ten and fifteen feet tall,

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Speaker 4: that that probably would be a good estimate.

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Speaker 2: Of Okay, how high is the prew The.

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Speaker 4: Prudential building is five hundred and something.

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Speaker 2: I mean stories wise, I can't remember. So it's going

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Speaker 2: to be.

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Speaker 3: Like that tall, right, It's going to be taller taller.

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Speaker 2: Okay, yep, you see this is significant stuff, and everybody's

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Speaker 2: going to have to get there somehow and get home

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Speaker 2: and that's a lot of traffic. What's another one of

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Speaker 2: the let's move on to the next development.

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Speaker 4: Yeah, so, I mean that's the thing is, like, we

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Speaker 4: have so many that are going on.

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Speaker 2: What's next?

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Speaker 4: I think the next big thing is Winthrop Center. So

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Speaker 4: what it is is.

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Speaker 2: Is it in Winthrop or just named after Governor Winthrop.

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Speaker 4: It's just named after It's kind of you know what

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Speaker 4: the towers that Boston will be judged by. It's kind

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Speaker 4: of where this passive house certified office performance thing is

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Speaker 4: kind of really getting its place.

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Speaker 2: Where is it.

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Speaker 3: The exact address?

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Speaker 2: We know the area?

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Speaker 4: Oh yeah, yeah, right right downtown. The biggest thing about it.

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Speaker 2: Is we're downtown.

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Speaker 3: Give me one second. I'll grab that for you.

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Speaker 2: I got to picture it.

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Speaker 3: Yeah, no, I hear you, man, that's all right.

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Speaker 2: I mean if you don't, we can move on.

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Speaker 3: Yeah, just give me two seconds.

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Speaker 2: No, No, we don't really have to.

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Speaker 3: It's it's in the financial district.

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Speaker 2: But yeah, it's a district. Now that's a monster too, right.

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Speaker 3: That is a monster.

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Speaker 2: I mean, tell me all about it.

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Speaker 4: Well, so what this is is it is focused on

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Speaker 4: green It is focused on major sustainability benchmarks, and what

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Speaker 4: it is is setting up as an anchor point for

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Speaker 4: having this new type of building in Boston where it

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Speaker 4: is very green oriented, very eco friendly, and hitting all

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Speaker 4: these new benchmarks that are in development, not just in height,

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Speaker 4: but in how it is going to environmentally impact and

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Speaker 4: set up spaces where it's not just like oh hey,

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Speaker 4: here's this big either pretty or ugly depending on your

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Speaker 4: opinion building, but it's also where it's not going to

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Speaker 4: have this negative impact hopefully, like you said, not having Can.

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Speaker 2: You describe the walkability factor? Like WHOA, A lot of

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Speaker 2: places have sidewalks, they plant trees, they call that walkability.

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Speaker 2: Is there something more than this?

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Speaker 4: Not not for this particular one, So it's just sidewalks

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Speaker 4: and trees. No, it's it's more of how the building

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Speaker 4: is constructed and how environmentally.

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Speaker 2: Efficient it's a green building.

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Speaker 4: Yeah, a green building all right, you know, like like

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Speaker 4: a green car, but better because you know you're not

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Speaker 4: worrying about rebates.

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Speaker 2: Okay, Now on these developments, yep. Is it something that

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Speaker 2: that area needed or is it basically a developer saying, yeah,

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Speaker 2: we'd really like to build a giant building here, so

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Speaker 2: we're gonna sell it, saying this stuff, we're gonna sell it, saying, oh,

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Speaker 2: we're gonna make this area green, going to do this.

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Speaker 2: It's it's really they want to make money. They come

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Speaker 2: to the city and say we'd like to make money,

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Speaker 2: and the city says, and our city is better about

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Speaker 2: this than most cities of extracting concessions from them. But

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Speaker 2: the area would have been fine without this, right. It's

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Speaker 2: it's it's an entity wanting to make a bunch of money.

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Speaker 4: I would say it is eighty five percent that in

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Speaker 4: this specific instance, and then I would say it's probably

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Speaker 4: fifteen percent. We're like, okay, like, you know what, it

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Speaker 4: could have used a little shine, you know, a little polish,

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Speaker 4: not saying glass. But again, you know, everything needs its

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Speaker 4: update every once in a while. But I would say predominantly, Yeah,

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Speaker 4: I mean this is how many blocks?

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Speaker 2: Is this?

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Speaker 4: So that one is not blocks that that's mostly just

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Speaker 4: like one block.

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Speaker 2: One building. Yeah, okay, So the one in Bullfinch Crossing?

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Speaker 2: Is there really going to change the face of that

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Speaker 2: area a lot? Yes, and it will be nice, I'm sure.

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Speaker 2: By the way, how do you feel and anyone else?

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Speaker 2: Six month seven, two ten thirty about what they did too?

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Speaker 2: Governments Governments sent to plaza. I kind of like it.

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Speaker 2: I like all the trees, and it does look a

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Speaker 2: little barren, but I know they wanted a space for

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Speaker 2: performances and things, so that needs to be wide open.

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Speaker 2: And they did some fancy water recapturing thing in there

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Speaker 2: as well that I like. So I'm pretty happy with it,

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Speaker 2: especially as those trees grow. Are you into real estate?

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Speaker 2: What's your opinion of the City Hall architecture A brutalist architecture.

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Speaker 4: I am a big fan in anything but Boston, So like,

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Speaker 4: if it's somewhere else, I like brutalis architecture, but like

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Speaker 4: that just big concrete block looking stuff.

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Speaker 3: You know, I don't like it.

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Speaker 2: So you like it in theory, but not in my backyard.

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Speaker 4: Yeah, it's just not Boston. It doesn't fit for it.

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Speaker 4: I don't feel like just a big cement block is Boston.

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Speaker 4: I feel like, you know, Brownstone is Boston. I feel

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Speaker 4: like having some architectural details, like I know what you mean.

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Speaker 4: If it looks just like a concrete block on its

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Speaker 4: side that doesn't have any detail, that doesn't have any

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Speaker 4: character to me, that doesn't speak to me, that's just.

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Speaker 2: Like they're Yeah, folks, are you in favor of development

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Speaker 2: in Boston to get more revenue in here so they

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Speaker 2: can spend it on who knows what would you like

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Speaker 2: to kind of rein it in and keep Boston Boston.

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Speaker 2: My opinion on that building is this. Initially, I didn't

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Speaker 2: like it initially, meaning my first decade here in Boston,

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Speaker 2: maybe my second decade here in Boston. But as these

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Speaker 2: faceless glass towers started to go up, I started to

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Speaker 2: love it because at least it had some personality and

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Speaker 2: all lighting is everything, as you know in the business

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Speaker 2: of real estate, and when they light it correctly, looks

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Speaker 2: kind of cool. It has a personality, and it's been

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Speaker 2: there so long it's really has some history attached to it.

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Speaker 2: It's a the phrase dirty old Boston. It's a dirty

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Speaker 2: old city hall, and I kind of like it. Now.

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Speaker 2: After this we'll go to Gino and Waltham and we'll

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Speaker 2: talk about some more of the developments coming up in

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Speaker 2: the Boston area. If we can get to some that

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Speaker 2: are outside a little bit, in any of the outside towns,

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Speaker 2: that would be fantastic, because I want to include the

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Speaker 2: neighborhoods and more people than lived just downtown Boston. It's

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Speaker 2: coming up on WBZ.

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Speaker 1: It's Night Side with Dan Ray on WBZ, Boston's news radio.

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Speaker 2: Thanks for being with us tonight on wb Z Bradley

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Speaker 2: J for Dan Ray. We're talking about Boston development. Are

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Speaker 2: you a fan of more Boston development to bring in

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Speaker 2: some more revenue or are you concerned about Boston losing

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Speaker 2: its character and becoming just like a big Hartford? Sorry Hartford.

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Speaker 2: But when I when I drive by Hartford, I say, boy,

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Speaker 2: I'm glad Boston doesn't look like that.

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Speaker 4: I mean, isn't it really where you know, Hartford and

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Speaker 4: all of Connecticut really is just kind of a truck

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Speaker 4: stop between city.

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Speaker 2: I don't want to be too mean to Connecticut, but

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Speaker 2: I will say this. One time I was taking the

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Speaker 2: train back from New York and it was so crowded.

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Speaker 2: It was a Sunday night, and it's thought, it's so crowded.

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Speaker 2: Standing remotely, said I can't take it. I'm going to

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Speaker 2: get off at some random city and have a beer

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Speaker 2: in a pub somewhere and wait for the next train.

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Speaker 2: It has to be less crowded, get off the train,

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Speaker 2: find out no alcohol. Who was allowed? And I don't

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Speaker 2: know if it was just that town. I don't know

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Speaker 2: the rules there I don't know if it was just then.

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Speaker 2: I think it was Sunday, and you know, I collapsed

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Speaker 2: in despair. How am I going to spend the next

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Speaker 2: four hours waiting for the next train. What a catastrophic

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Speaker 2: mistake I've made? So that obviously is my dealings with

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Speaker 2: with that town. Let's find out before we talk about

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Speaker 2: further development in Boston, we'll talk to Geno in Walthan.

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Speaker 5: Hello, Gino Bradley, Happy new Year, Happy new Year to

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Speaker 5: your guest.

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Speaker 4: Thank you, Jame, Joe, Joe Turco love hearing from me.

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Speaker 5: Man, how you, Joe, Joe Churko, how are you? I

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Speaker 5: got to say, I'm not a fan of new development

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Speaker 5: in the sense that you just described these seven hundred

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Speaker 5: foot buildings, which are pretty much going to be four

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Speaker 5: city blocks of prudential buildings. And to take that the scope,

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Speaker 5: I know you're not fans of the glass buildings, but

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Speaker 5: you probably aware that the commercial rate right now it's

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Speaker 5: like twenty three percent, vacancy's almost twenty five percent.

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Speaker 2: Yeah, that's an interesting factor. Ill we'll try to figure

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Speaker 2: out why that is later. Joe might know because he's

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Speaker 2: in the realty.

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Speaker 5: Business right and building these He said, how many how

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Speaker 5: many squire fee? He said, like two million square feet?

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Speaker 2: Well the one in both Ins crossing as two point

435
00:23:01,320 --> 00:23:02,720
Speaker 2: nine million point nine million.

436
00:23:03,680 --> 00:23:06,120
Speaker 5: I'm so short of three million square feet. And if

437
00:23:06,119 --> 00:23:09,360
Speaker 5: you don't have people to go in there and create businesses,

438
00:23:09,400 --> 00:23:12,120
Speaker 5: because it seems that brick and mortar businesses have taken

439
00:23:12,160 --> 00:23:14,879
Speaker 5: it on the kin in the past ten years, since

440
00:23:15,080 --> 00:23:17,680
Speaker 5: that big sea word we had back five six years ago.

441
00:23:18,840 --> 00:23:21,879
Speaker 5: It just it just seems kind of useless to build

442
00:23:21,920 --> 00:23:23,920
Speaker 5: something like this. Will anybody come?

443
00:23:24,480 --> 00:23:27,880
Speaker 2: Yeah, So A, it's a pretty small space and very

444
00:23:27,920 --> 00:23:31,880
Speaker 2: popular area and growing, and they must just figure that, yes,

445
00:23:32,480 --> 00:23:35,040
Speaker 2: if we build it, they will come. And and b

446
00:23:35,240 --> 00:23:38,479
Speaker 2: they must think that this downturn is temporary. And see

447
00:23:38,720 --> 00:23:41,919
Speaker 2: maybe it's cheaper to build now for some reason because

448
00:23:43,160 --> 00:23:48,680
Speaker 2: because there the demand for workmen and perhaps materials is cheaper.

449
00:23:48,720 --> 00:23:50,400
Speaker 2: I don't know, you probably know that, Joe.

450
00:23:50,520 --> 00:23:53,200
Speaker 4: Yeah, well we had during that you know, big seaword,

451
00:23:54,119 --> 00:23:58,240
Speaker 4: a spike in materials and supply chain and costs went

452
00:23:58,320 --> 00:24:02,160
Speaker 4: through the roof. So yeah, people are affected by that,

453
00:24:02,280 --> 00:24:05,679
Speaker 4: and they took it, like you said, call her on

454
00:24:05,760 --> 00:24:08,359
Speaker 4: the chin for a couple of years during that time.

455
00:24:08,440 --> 00:24:12,240
Speaker 4: So like any business, they're probably trying to recoup, because yes.

456
00:24:12,800 --> 00:24:13,439
Speaker 3: Trying to recover.

457
00:24:13,560 --> 00:24:17,360
Speaker 2: You think that was this problem is a result of I.

458
00:24:17,320 --> 00:24:20,440
Speaker 5: Mean to break it quickly, just to break it down.

459
00:24:20,480 --> 00:24:23,720
Speaker 5: I mean, simply a two by four costco used to

460
00:24:23,760 --> 00:24:28,040
Speaker 5: be like ninety seven cents. It's over four dollars now,

461
00:24:28,200 --> 00:24:29,919
Speaker 5: and the class isn't going to come down as long

462
00:24:29,960 --> 00:24:33,320
Speaker 5: as we keep building. Just that to put it in proportion.

463
00:24:33,480 --> 00:24:36,240
Speaker 5: I'll listen to the rest of it off. Yeah, great joke, Bradley,

464
00:24:36,400 --> 00:24:37,040
Speaker 5: Thank you again.

465
00:24:37,320 --> 00:24:40,040
Speaker 2: Gino. It's you're a good caller, and this first. I

466
00:24:40,080 --> 00:24:41,560
Speaker 2: haven't talked to you for a long time. I hope

467
00:24:41,600 --> 00:24:42,399
Speaker 2: you become a regular.

468
00:24:42,480 --> 00:24:45,200
Speaker 5: Love you long time WBC umbrella.

469
00:24:45,560 --> 00:24:48,760
Speaker 2: Okay, good, nice to hear.

470
00:24:49,119 --> 00:24:49,840
Speaker 3: I love it.

471
00:24:49,880 --> 00:24:52,120
Speaker 4: I love those type of callers that come in year

472
00:24:52,160 --> 00:24:55,080
Speaker 4: after year, keep coming back. And that's the thing is

473
00:24:55,080 --> 00:24:57,480
Speaker 4: like he hit it square on the head. Yeah, every

474
00:24:57,520 --> 00:25:00,960
Speaker 4: business has cycles, the city has cycles. The cost was

475
00:25:01,119 --> 00:25:04,520
Speaker 4: extremely expensive a short time ago, and now we've had

476
00:25:04,520 --> 00:25:07,080
Speaker 4: a little relief on that, so they're trying to catch.

477
00:25:06,960 --> 00:25:07,879
Speaker 3: Up on the.

478
00:25:09,760 --> 00:25:11,320
Speaker 2: Relative discount.

479
00:25:11,560 --> 00:25:14,600
Speaker 4: Yeah, I mean, who wouldn't I mean, if it cost you,

480
00:25:14,600 --> 00:25:16,800
Speaker 4: you know, four dollars, like you said, for the two

481
00:25:16,800 --> 00:25:19,439
Speaker 4: by four, but you suddenly could get it for you know,

482
00:25:19,760 --> 00:25:20,240
Speaker 4: a dollar.

483
00:25:20,400 --> 00:25:21,640
Speaker 3: I mean, I'm going to jump on that.

484
00:25:22,000 --> 00:25:25,720
Speaker 2: Here's another quick question regarding realty. Who can live in

485
00:25:25,880 --> 00:25:28,280
Speaker 2: who can afford to live in Boston? The answer is,

486
00:25:28,320 --> 00:25:32,320
Speaker 2: as everyone knows, no one, no normal human being can

487
00:25:32,320 --> 00:25:37,040
Speaker 2: live in Boston anymore. That's too bad. And that's another's

488
00:25:38,200 --> 00:25:43,480
Speaker 2: that's just another side effect of these luxury condos. Is

489
00:25:43,480 --> 00:25:46,320
Speaker 2: it true that lots of those bought by people who

490
00:25:46,359 --> 00:25:50,439
Speaker 2: never go never come there. Ye're bought by folks in China, Japan,

491
00:25:50,520 --> 00:25:54,840
Speaker 2: et cetera. As you know, maybe they're a place for

492
00:25:54,920 --> 00:25:57,040
Speaker 2: their kid while they go to they buy them a

493
00:25:57,160 --> 00:25:59,000
Speaker 2: ten million dollar place for the kid while they go

494
00:25:59,080 --> 00:26:02,800
Speaker 2: to MIT, and then they just keep it as it

495
00:26:02,840 --> 00:26:06,639
Speaker 2: doesn't really add to the community much. What's you know

496
00:26:06,720 --> 00:26:07,960
Speaker 2: that who buys these things?

497
00:26:08,200 --> 00:26:11,840
Speaker 4: So yeah, I would say Boston is the most European

498
00:26:12,000 --> 00:26:13,480
Speaker 4: city in the United States.

499
00:26:13,240 --> 00:26:15,399
Speaker 2: Now owned by Europeans.

500
00:26:15,800 --> 00:26:18,199
Speaker 4: Oh no, I mean, I mean just style wise, and

501
00:26:18,240 --> 00:26:22,280
Speaker 4: but I'm getting to it. We have a huge amount

502
00:26:22,359 --> 00:26:27,440
Speaker 4: of international clients that want to purchase for various reasons.

503
00:26:27,440 --> 00:26:31,480
Speaker 4: So I think what you're talking about is half truth,

504
00:26:31,960 --> 00:26:35,120
Speaker 4: half Herban legend, where you know, the ten million dollar

505
00:26:35,160 --> 00:26:37,639
Speaker 4: price point. No, But if you're saying a million, a

506
00:26:37,680 --> 00:26:39,880
Speaker 4: million five, absolutely correct.

507
00:26:39,600 --> 00:26:41,800
Speaker 2: A million five. What can you get for a million five?

508
00:26:41,880 --> 00:26:44,280
Speaker 4: You can get like a two bedroom a little condo.

509
00:26:44,760 --> 00:26:47,800
Speaker 4: But you can get it in East you can get

510
00:26:47,840 --> 00:26:50,760
Speaker 4: it over in Allston. I mean we're not talking Beacon Hill,

511
00:26:50,840 --> 00:26:53,560
Speaker 4: Back Bay, but we're talking about you know where people

512
00:26:53,560 --> 00:26:55,600
Speaker 4: can make a little bit of an investment for their kid,

513
00:26:55,760 --> 00:26:57,480
Speaker 4: keep it after and rented to students.

514
00:26:57,760 --> 00:27:00,920
Speaker 2: Two point five mili in Austin.

515
00:27:01,440 --> 00:27:03,479
Speaker 4: Austin will get you a lot. I mean, I'm not

516
00:27:03,520 --> 00:27:04,320
Speaker 4: talking six.

517
00:27:04,240 --> 00:27:06,640
Speaker 2: You get in Austin for two point five million, one

518
00:27:06,680 --> 00:27:07,760
Speaker 2: floor of a triple decker.

519
00:27:08,280 --> 00:27:10,560
Speaker 4: I mean you can definitely get that. I mean you

520
00:27:10,600 --> 00:27:13,600
Speaker 4: can get usually like a three bedroom with you know,

521
00:27:13,680 --> 00:27:14,560
Speaker 4: a decent amount.

522
00:27:14,359 --> 00:27:17,879
Speaker 2: Of space and what location you can do this for sure?

523
00:27:18,840 --> 00:27:20,320
Speaker 2: What's the interest rate right now?

524
00:27:20,840 --> 00:27:24,440
Speaker 4: So the interest rates obviously fluctuate, but we're looking at

525
00:27:24,600 --> 00:27:27,400
Speaker 4: rates between and again I'm not a loan officer, I'm

526
00:27:27,440 --> 00:27:31,400
Speaker 4: just a justquation. But between six point five and seven.

527
00:27:31,200 --> 00:27:34,240
Speaker 2: Let's call it. It's called it seven. Sure, So if

528
00:27:34,240 --> 00:27:37,400
Speaker 2: you put can you're a real estate persent? Can you?

529
00:27:37,440 --> 00:27:39,320
Speaker 2: So you put what's the minimum you can put.

530
00:27:39,200 --> 00:27:44,280
Speaker 4: Down now, No, No, you can put down as little

531
00:27:44,320 --> 00:27:46,720
Speaker 4: as zero percent for certain people.

532
00:27:46,840 --> 00:27:48,560
Speaker 2: So like you have a VA line to buy that

533
00:27:48,680 --> 00:27:51,920
Speaker 2: special insurance Morgan insurance, if you pay less than twenty

534
00:27:51,920 --> 00:27:52,760
Speaker 2: percent down.

535
00:27:53,119 --> 00:27:56,399
Speaker 3: Yes, PM I am I yep, exactly.

536
00:27:56,720 --> 00:27:59,359
Speaker 2: So you'd want to put down twenty percent when.

537
00:27:59,320 --> 00:28:04,040
Speaker 4: You'd want to in the best situation. But like anything renting,

538
00:28:04,320 --> 00:28:07,239
Speaker 4: is you're paying someone else's mortgage. I'd rather pay my

539
00:28:07,280 --> 00:28:09,760
Speaker 4: own mortgage and get that appreciation.

540
00:28:09,960 --> 00:28:11,800
Speaker 2: I hear that all the time. I'm just trying to

541
00:28:11,840 --> 00:28:14,639
Speaker 2: figure out how much that one floor of a triple

542
00:28:14,680 --> 00:28:18,120
Speaker 2: deck in Allston's going to cost our month. You must

543
00:28:18,160 --> 00:28:21,679
Speaker 2: have a little machine right there that can.

544
00:28:22,240 --> 00:28:24,520
Speaker 3: Figure that out. Yeah, we can pull out that.

545
00:28:24,720 --> 00:28:27,240
Speaker 2: Because I want to know if anybody can affoid that,

546
00:28:27,240 --> 00:28:33,240
Speaker 2: that's all right, pretty much unaffordable I think. And then

547
00:28:33,720 --> 00:28:36,439
Speaker 2: you know, it's the same thing in East Boston. Nobody

548
00:28:36,440 --> 00:28:38,600
Speaker 2: can live in Boston Boston at all, right.

549
00:28:39,040 --> 00:28:42,360
Speaker 4: Yeah, I mean it really depends. It is always going

550
00:28:42,400 --> 00:28:45,880
Speaker 4: to be based around kind of what your income is.

551
00:28:46,360 --> 00:28:50,960
Speaker 2: We know that you must work with some high end clients.

552
00:28:51,240 --> 00:28:53,880
Speaker 4: I work with everyone. So this is this is where

553
00:28:53,880 --> 00:28:58,120
Speaker 4: I tell people I am a luxury broker. But luxury

554
00:28:58,160 --> 00:29:01,320
Speaker 4: does not mean price point, it means level of service.

555
00:29:01,400 --> 00:29:04,440
Speaker 2: While you're looking that up, I get that we're going

556
00:29:04,480 --> 00:29:07,680
Speaker 2: to talk about an assembly development. But in addition to that,

557
00:29:07,760 --> 00:29:10,920
Speaker 2: I want to give you some details about the Craft Stadium.

558
00:29:11,600 --> 00:29:12,120
Speaker 3: I love it.

559
00:29:12,760 --> 00:29:17,920
Speaker 2: So this comes from probably the Boston Globe. Craft Group

560
00:29:17,920 --> 00:29:20,479
Speaker 2: bridges deal with Boston and Effett to move forward with

561
00:29:20,720 --> 00:29:23,959
Speaker 2: Revolution Soccer stadium, And strangely, I have no problem with this.

562
00:29:24,960 --> 00:29:28,440
Speaker 2: I'm fine with it, and it will affect me because

563
00:29:28,480 --> 00:29:31,760
Speaker 2: I go right by there whenever I come to the

564
00:29:32,000 --> 00:29:35,240
Speaker 2: iHeart headquarters. Here. Let me let me tell you what

565
00:29:36,000 --> 00:29:39,640
Speaker 2: the dealing about. The deal they made pretty interesting from

566
00:29:39,720 --> 00:29:43,360
Speaker 2: this article in the Boston Globe, New England Revolution may

567
00:29:43,440 --> 00:29:46,200
Speaker 2: a step closer to getting a new stadium and Everett

568
00:29:46,560 --> 00:29:49,920
Speaker 2: after the Craft Group and Michelle Wou announced an agreement

569
00:29:49,960 --> 00:29:56,320
Speaker 2: on Wednesday to compensate Boston for the expected effects and

570
00:29:56,680 --> 00:29:59,200
Speaker 2: traffican transit and by the way, last night, I guess

571
00:29:59,280 --> 00:30:03,080
Speaker 2: Chris Dempsey Trees, as former Transportation secretary, mentioned that in

572
00:30:03,160 --> 00:30:06,120
Speaker 2: other cities, other cities pay these groups to come in.

573
00:30:06,120 --> 00:30:11,040
Speaker 2: In our city, we expect something back for allowing them in,

574
00:30:11,360 --> 00:30:14,720
Speaker 2: and the Boston should be proud for that. The agreement

575
00:30:14,800 --> 00:30:18,960
Speaker 2: with Made was worth over forty eight million spread over

576
00:30:19,240 --> 00:30:22,520
Speaker 2: fifteen years, with most of the mine going to infrastructure

577
00:30:22,560 --> 00:30:26,840
Speaker 2: improvements and other improvements in neighboring Charlestown. Well, that's cool,

578
00:30:28,440 --> 00:30:31,440
Speaker 2: and I'm glad it's the Crafts the Boston neighborhood that

579
00:30:31,480 --> 00:30:35,200
Speaker 2: most Charlestown will be very affected by crowds coming to

580
00:30:35,280 --> 00:30:39,120
Speaker 2: the games, but probably be good for business. And meanwhile,

581
00:30:39,360 --> 00:30:42,680
Speaker 2: in effort the inevert, the Crafts reach a similar but

582
00:30:42,880 --> 00:30:48,040
Speaker 2: separate community impact agreement with the outgoing mayor, Carlo da Maria,

583
00:30:48,760 --> 00:30:53,680
Speaker 2: making it one of Carlo's last big accomplishments, and among

584
00:30:53,720 --> 00:30:55,840
Speaker 2: other things, the Evert Deal. This is the Evert deal

585
00:30:55,880 --> 00:30:59,800
Speaker 2: now includes twenty million to build a four acre waterfront

586
00:30:59,800 --> 00:31:03,920
Speaker 2: pop along the Mystic River, which I'll probably be able

587
00:31:03,920 --> 00:31:06,360
Speaker 2: to see right on the Orange Line as I go by,

588
00:31:07,440 --> 00:31:09,960
Speaker 2: and more each yier to maintain it. So that's pretty cool.

589
00:31:10,200 --> 00:31:12,160
Speaker 2: I was thinking how much how stressful it must be

590
00:31:12,200 --> 00:31:15,240
Speaker 2: to be a lawyer and have to remember, oh, yeah,

591
00:31:15,360 --> 00:31:17,520
Speaker 2: I need to ask for money to maintain it too.

592
00:31:17,600 --> 00:31:21,560
Speaker 2: What if I were the lawyer and forgot that agreement

593
00:31:21,600 --> 00:31:25,040
Speaker 2: also includes seventeen point five million for new entrance to

594
00:31:25,080 --> 00:31:30,080
Speaker 2: the Orange Lines assembly station in Summerville for access to

595
00:31:30,120 --> 00:31:35,320
Speaker 2: a pedestrian bridge slated to cross the Mystic. And it

596
00:31:35,400 --> 00:31:38,680
Speaker 2: also calls for a two dollars and twenty five cent

597
00:31:39,080 --> 00:31:45,240
Speaker 2: ticket fee for the city's benefit. And Everett officials value

598
00:31:45,280 --> 00:31:48,840
Speaker 2: their agreement at more than ninety million over a twenty

599
00:31:48,920 --> 00:31:53,960
Speaker 2: year period, And I just think that's I'm fine with that.

600
00:31:54,720 --> 00:31:58,280
Speaker 2: And I don't live there, but it does. It'll affect

601
00:31:58,280 --> 00:32:02,120
Speaker 2: my commute when I'm going up to you know, doing

602
00:32:02,200 --> 00:32:05,920
Speaker 2: things I need to do. But I'm perfectly happy with that.

603
00:32:06,000 --> 00:32:09,440
Speaker 2: And congratulations on what seems to be a good deal,

604
00:32:10,360 --> 00:32:15,040
Speaker 2: uh for all. Now we're back to the Joe Turco.

605
00:32:15,840 --> 00:32:21,800
Speaker 2: We altered to the stars and everyone to find out

606
00:32:22,040 --> 00:32:24,240
Speaker 2: how much it's gonna cost us. We've just let's pretend

607
00:32:24,240 --> 00:32:31,760
Speaker 2: we've just you've just shown us this nice redone floor

608
00:32:31,800 --> 00:32:35,000
Speaker 2: through floor on a triple decker in Austin where you

609
00:32:35,080 --> 00:32:38,280
Speaker 2: say it's two million, two millions. Oh, you found a deal.

610
00:32:38,320 --> 00:32:40,880
Speaker 2: It was two point five before, but now it's two yep.

611
00:32:40,960 --> 00:32:42,320
Speaker 3: Okay, easy round numbers.

612
00:32:42,360 --> 00:32:45,360
Speaker 4: Okay, So like you said, we want to send down,

613
00:32:45,640 --> 00:32:50,360
Speaker 4: we're gonna put twenty Okay, Okay, just to go with

614
00:32:50,440 --> 00:32:52,120
Speaker 4: your example of the old school way, you know.

615
00:32:52,400 --> 00:32:54,680
Speaker 2: So both of those factors will make their number a

616
00:32:54,720 --> 00:32:57,240
Speaker 2: little bit more palatable.

617
00:32:57,080 --> 00:32:59,800
Speaker 4: Well a little depending on how you feel about that.

618
00:33:00,520 --> 00:33:04,160
Speaker 4: So twenty percent of two million is four hundred thousand.

619
00:33:04,280 --> 00:33:05,800
Speaker 2: Yep, So you're gonna put that down.

620
00:33:05,880 --> 00:33:08,520
Speaker 4: Yeah, put that down. That's not even your closing costs,

621
00:33:08,560 --> 00:33:11,680
Speaker 4: that's not your real turfees, you know, that's just four

622
00:33:11,760 --> 00:33:16,600
Speaker 4: year loan okae k four hundred K. Now, I went

623
00:33:16,680 --> 00:33:19,680
Speaker 4: on Chase because again I'm not a loan officer, and

624
00:33:19,760 --> 00:33:23,040
Speaker 4: I just punched in the numbers, put in our allstin

625
00:33:23,200 --> 00:33:27,360
Speaker 4: zip code for Suffolk County, and what they popped out

626
00:33:27,520 --> 00:33:29,080
Speaker 4: was like, okay, hey, you can get a rate of

627
00:33:29,120 --> 00:33:32,760
Speaker 4: six percent, and if you have good credit this is

628
00:33:33,040 --> 00:33:36,720
Speaker 4: assuming way, Yes, good credit, and your principal and interest

629
00:33:36,720 --> 00:33:39,800
Speaker 4: payment each month will be nine thousand, five hundred and

630
00:33:39,840 --> 00:33:43,080
Speaker 4: ninety two dollars and eighty one cents. And that's putting

631
00:33:43,160 --> 00:33:44,680
Speaker 4: four hundred thousand dollars down.

632
00:33:44,800 --> 00:33:47,920
Speaker 2: Okay, So I did. I owned a place one time

633
00:33:47,960 --> 00:33:52,880
Speaker 2: and I hated being an owner. And in order to

634
00:33:52,880 --> 00:33:56,239
Speaker 2: buy this place in Austin, you're gonna have to come

635
00:33:56,280 --> 00:33:59,440
Speaker 2: up with four hundred k yep. And you're gonna have

636
00:33:59,480 --> 00:34:01,160
Speaker 2: to come up with nine k a month.

637
00:34:02,520 --> 00:34:04,200
Speaker 3: Well, let's round it up to time, because it was.

638
00:34:04,880 --> 00:34:09,359
Speaker 2: Okay, fine, ten k a month. Now you you pooh

639
00:34:09,400 --> 00:34:12,640
Speaker 2: poohed the rental of renting, saying you're paying somebody else

640
00:34:12,640 --> 00:34:18,759
Speaker 2: there's Morgan mortgage. True, but you can pay rent for

641
00:34:18,800 --> 00:34:21,759
Speaker 2: a lot of months with that with with the four

642
00:34:21,840 --> 00:34:25,400
Speaker 2: hundred k. Let's say it was two thousand, two thousand

643
00:34:25,480 --> 00:34:30,040
Speaker 2: a month. For that's how many months you do them.

644
00:34:30,280 --> 00:34:32,320
Speaker 3: That's gonna be a lot of months.

645
00:34:32,600 --> 00:34:36,200
Speaker 2: Yeah, two hundred months or something like that. Yep.

646
00:34:36,239 --> 00:34:38,000
Speaker 3: And and and that two.

647
00:34:37,920 --> 00:34:42,080
Speaker 2: Hundred months is how many years, many years, many years.

648
00:34:42,600 --> 00:34:49,120
Speaker 2: And that's not even encountering the the nine grand a month.

649
00:34:50,480 --> 00:34:54,200
Speaker 2: So in other words, who can live there? Only rich people,

650
00:34:54,239 --> 00:34:58,000
Speaker 2: even in Austin. Yep. So there you go. That's your

651
00:34:58,000 --> 00:35:02,839
Speaker 2: development deal, folks. I myself am a renter. I'm going

652
00:35:02,880 --> 00:35:06,880
Speaker 2: to be a renter forever because I there's the freedom

653
00:35:06,920 --> 00:35:10,839
Speaker 2: in it. It's a bummer. I have a friend who

654
00:35:11,320 --> 00:35:14,400
Speaker 2: at a place I'm just over the bridge, one of

655
00:35:14,400 --> 00:35:18,480
Speaker 2: the bridges in New York and had a beautiful view

656
00:35:18,520 --> 00:35:22,280
Speaker 2: of the Brooklyn Bridge out of condo and then somebody

657
00:35:22,280 --> 00:35:26,360
Speaker 2: else bought another, built another building and blocked her view. Yep,

658
00:35:26,400 --> 00:35:29,000
Speaker 2: that's a bummer of owning. And once you find out

659
00:35:29,040 --> 00:35:32,760
Speaker 2: that's happening, it's too late. You stuck with it. And

660
00:35:32,840 --> 00:35:35,640
Speaker 2: so I'm just a renter. And I don't even mind

661
00:35:35,680 --> 00:35:37,520
Speaker 2: if I had to have a roommate and split the rent.

662
00:35:38,680 --> 00:35:41,600
Speaker 2: I like it, get a good roommate. Thumbs up that.

663
00:35:42,320 --> 00:35:44,560
Speaker 2: I know that's a small ball away to live, but

664
00:35:44,640 --> 00:35:46,040
Speaker 2: that's that's kind of who I am.

665
00:35:46,160 --> 00:35:48,880
Speaker 4: Well, I think what it goes to is there's different

666
00:35:48,920 --> 00:35:51,759
Speaker 4: personality types and different things that we value. Like some

667
00:35:51,760 --> 00:35:56,279
Speaker 4: people look at this as our forced savings are forced investment.

668
00:35:56,719 --> 00:35:59,879
Speaker 4: Other people, like yourself, I'm assuming, like the freedom to say,

669
00:36:00,120 --> 00:36:03,279
Speaker 4: you know what, I love it on the side of town,

670
00:36:03,360 --> 00:36:06,279
Speaker 4: but I want to try this one. And you get

671
00:36:06,360 --> 00:36:09,480
Speaker 4: to do that at your discretion and there's no penalty to.

672
00:36:09,440 --> 00:36:14,319
Speaker 2: It, right. I owned a place in the South End

673
00:36:14,840 --> 00:36:18,480
Speaker 2: and one of my favorite part of my street was

674
00:36:18,520 --> 00:36:21,520
Speaker 2: the only street that didn't get They said, well, it'll

675
00:36:21,560 --> 00:36:23,919
Speaker 2: become nice in a few years. Nope, not my street. Yeah,

676
00:36:24,600 --> 00:36:28,520
Speaker 2: And I got rid of it and that allowed me

677
00:36:28,600 --> 00:36:31,520
Speaker 2: to move in. I just happened to have a great opportunity.

678
00:36:31,560 --> 00:36:34,120
Speaker 2: I got to live on West Street, which is right,

679
00:36:34,560 --> 00:36:36,920
Speaker 2: which is the street from Park Street Station to fin

680
00:36:37,000 --> 00:36:43,640
Speaker 2: Leans On in right downtown, in a loft, twenty foot ceilings,

681
00:36:43,640 --> 00:36:47,040
Speaker 2: giant windows. When I would do my mixtapes for my

682
00:36:47,120 --> 00:36:49,640
Speaker 2: radio show, I'd be looking out at the Statehouse Dome

683
00:36:50,560 --> 00:36:54,360
Speaker 2: and I could late at night the lights from the

684
00:36:54,400 --> 00:36:56,879
Speaker 2: Park Street Church would come in and if I had owned,

685
00:36:56,920 --> 00:37:00,080
Speaker 2: I'd been stuck and I never would have had that. So,

686
00:37:00,400 --> 00:37:03,279
Speaker 2: folks out there, there's no shame in renting. If it's

687
00:37:03,320 --> 00:37:06,480
Speaker 2: a matter of finding a deal, you get freedom. You

688
00:37:06,520 --> 00:37:09,480
Speaker 2: can tell the landlord to fix the toilet. You're not

689
00:37:10,280 --> 00:37:13,600
Speaker 2: You're not on the hook for much liability. I understand

690
00:37:14,320 --> 00:37:20,240
Speaker 2: the the financial benefits completely of buying, but I feel

691
00:37:20,280 --> 00:37:24,279
Speaker 2: like most of us, like me, just we're out of it.

692
00:37:24,600 --> 00:37:26,239
Speaker 2: The only way I could buy something is to go

693
00:37:27,280 --> 00:37:31,080
Speaker 2: to get a shack in New Hampshire.

694
00:37:31,280 --> 00:37:33,759
Speaker 4: Well here's the fun and interesting thing, because I have

695
00:37:34,239 --> 00:37:37,160
Speaker 4: many friends that do this, and I'm an advocate for

696
00:37:37,280 --> 00:37:40,279
Speaker 4: both love lifestyles. Just to be clear, everyone, I love

697
00:37:40,280 --> 00:37:42,000
Speaker 4: when you buy, I love when you sell. I love

698
00:37:42,000 --> 00:37:45,120
Speaker 4: when you rent. But I have many friends that choose

699
00:37:45,160 --> 00:37:48,440
Speaker 4: to rent their primary residence and then they buy investment

700
00:37:48,480 --> 00:37:52,719
Speaker 4: properties sometimes in other states where it's more economical, and

701
00:37:52,760 --> 00:37:53,760
Speaker 4: then they're the landlord.

702
00:37:53,880 --> 00:37:54,520
Speaker 2: That's a good idea.

703
00:37:54,600 --> 00:37:56,719
Speaker 3: Income I can see that, and they're appreciating.

704
00:37:56,920 --> 00:37:59,680
Speaker 2: What about this just buying property? Yeah, I have a

705
00:37:59,680 --> 00:38:04,840
Speaker 2: friend who really got into buying cheap property in Vermont

706
00:38:04,880 --> 00:38:07,839
Speaker 2: in New Hampshire. Yep, just the property, just to sit

707
00:38:07,880 --> 00:38:10,880
Speaker 2: on it and share it and wait for the value

708
00:38:10,920 --> 00:38:13,959
Speaker 2: to go up. That's kind of interesting because you don't

709
00:38:14,200 --> 00:38:17,440
Speaker 2: have to worry about if you own a place with

710
00:38:17,520 --> 00:38:18,319
Speaker 2: a house.

711
00:38:18,040 --> 00:38:20,440
Speaker 3: On it, it's different taxes.

712
00:38:20,280 --> 00:38:23,279
Speaker 2: Different taxes. You gotta worry about plowing, you gotta worry

713
00:38:23,320 --> 00:38:27,480
Speaker 2: about people going in and tearing out all the copper, vandalism,

714
00:38:27,800 --> 00:38:31,600
Speaker 2: a whole bunch of stuff. Ihability, and just the properties.

715
00:38:32,160 --> 00:38:35,879
Speaker 2: It's kind of easy. So yeah, renting here and owning

716
00:38:35,920 --> 00:38:38,720
Speaker 2: somewhere else might be just a thing, good idea.

717
00:38:39,120 --> 00:38:41,000
Speaker 3: Well, I mean, do you do you do that?

718
00:38:41,320 --> 00:38:41,360
Speaker 5: You?

719
00:38:41,840 --> 00:38:45,560
Speaker 2: Uh, hook people up with realtors in other states?

720
00:38:45,640 --> 00:38:48,120
Speaker 4: Right, oh yeah, And we love to connect people. But

721
00:38:48,280 --> 00:38:51,680
Speaker 4: that's the thing that people don't realize is there's options

722
00:38:51,719 --> 00:38:53,640
Speaker 4: and if you talk to a great agent. I'm not

723
00:38:53,680 --> 00:38:56,480
Speaker 4: talking a hobby person. I'm talking about a real business person.

724
00:38:56,800 --> 00:38:58,839
Speaker 4: They're going to show you all the different ways that

725
00:38:59,040 --> 00:39:02,560
Speaker 4: you can be flexible and you can either make money

726
00:39:02,719 --> 00:39:05,960
Speaker 4: or make great investments or change your life through real

727
00:39:06,040 --> 00:39:08,279
Speaker 4: estate that you just had no idea about because you

728
00:39:08,320 --> 00:39:09,279
Speaker 4: don't know what you don't know.

729
00:39:09,800 --> 00:39:13,080
Speaker 2: Right, We didn't really talk much about the South STATIONI development. Yep,

730
00:39:13,080 --> 00:39:14,080
Speaker 2: do you know a lot about that?

731
00:39:14,520 --> 00:39:14,759
Speaker 3: Yeah?

732
00:39:14,800 --> 00:39:16,879
Speaker 2: I mean, all right, let's take a break and talk

733
00:39:16,920 --> 00:39:19,239
Speaker 2: about that because that affects a lot of people. And

734
00:39:19,320 --> 00:39:21,600
Speaker 2: we'll also talk to David in San Francisco. We will,

735
00:39:22,239 --> 00:39:24,560
Speaker 2: we will chat I shouldn't say talk to We will

736
00:39:24,640 --> 00:39:30,280
Speaker 2: chat with you, David in San Francisco. After this on WBZ, you're.

737
00:39:30,120 --> 00:39:35,400
Speaker 1: On Night Side with Dan Ray on WBZ Boston's news radio.

738
00:39:36,160 --> 00:39:39,080
Speaker 2: Rably J for Dan talking to Joe Turco about development

739
00:39:39,200 --> 00:39:42,080
Speaker 2: in the Boston area where it is and the effects

740
00:39:42,120 --> 00:39:47,720
Speaker 2: of it and and basically the cost of maybe buying

741
00:39:47,880 --> 00:39:50,799
Speaker 2: anywhere in the Boston area. Really getting down to the

742
00:39:50,920 --> 00:39:54,000
Speaker 2: numbers pretty shocking. Right now, we go to David in

743
00:39:54,040 --> 00:39:58,799
Speaker 2: San Francisco. Speaking of shocking numbers, They're pretty shocking out there,

744
00:39:58,880 --> 00:40:01,760
Speaker 2: aren't they. As a realist. Eight numbers in San Francisco too.

745
00:40:02,160 --> 00:40:06,200
Speaker 6: H David, Oh, yeah, absolutely. I don't know if you're

746
00:40:06,200 --> 00:40:09,800
Speaker 6: familiar with old Robert Moses down in New York City,

747
00:40:09,960 --> 00:40:16,160
Speaker 6: but we had a similar scoundrel, justin Herman out here,

748
00:40:16,360 --> 00:40:19,160
Speaker 6: and he was he back in the late fifties.

749
00:40:20,000 --> 00:40:25,120
Speaker 2: Just for the record, name names and say bad things

750
00:40:25,120 --> 00:40:27,120
Speaker 2: about them, just for me. Thanks.

751
00:40:27,400 --> 00:40:30,880
Speaker 6: Well, Well, the point was was they were trying to

752
00:40:30,880 --> 00:40:35,799
Speaker 6: make San Francisco become the oasis for the rich, and

753
00:40:35,880 --> 00:40:38,719
Speaker 6: they wanted to drive the poor out of San Francisco,

754
00:40:38,840 --> 00:40:41,399
Speaker 6: and so they intentionally drove properties down.

755
00:40:41,680 --> 00:40:44,759
Speaker 2: Just how do you know they intentionally wanted to I

756
00:40:44,800 --> 00:40:48,239
Speaker 2: haven't I haven't read the book. I don't know. According

757
00:40:48,280 --> 00:40:52,040
Speaker 2: to you, they intentionally did okay, go ahead.

758
00:40:53,880 --> 00:40:57,239
Speaker 6: That was the San Francisco Housing Authority, he ran it

759
00:40:57,680 --> 00:41:01,880
Speaker 6: and the development agency in it. And it was only

760
00:41:01,920 --> 00:41:04,799
Speaker 6: because the hippies came here in the mid sixties that

761
00:41:04,880 --> 00:41:09,439
Speaker 6: had blew apart his whole plan. But it's yeah, it's

762
00:41:09,520 --> 00:41:14,840
Speaker 6: been vastly going toward the same scheme again. And I

763
00:41:14,960 --> 00:41:17,000
Speaker 6: was just going to raise as you were talking about

764
00:41:17,120 --> 00:41:21,839
Speaker 6: property development and in fighting corporations in if you think,

765
00:41:22,080 --> 00:41:25,120
Speaker 6: you know, we're two hundred and fifty years into seventeen

766
00:41:25,239 --> 00:41:29,360
Speaker 6: seventy six, And the logic back then was they didn't

767
00:41:29,400 --> 00:41:34,000
Speaker 6: want to be a colony of not just the King,

768
00:41:34,160 --> 00:41:39,400
Speaker 6: but the thirteen corporate The thirteen colonies were thirteen corporations,

769
00:41:39,920 --> 00:41:42,160
Speaker 6: and that they were sucking all the money back to

770
00:41:42,200 --> 00:41:46,480
Speaker 6: their headquarters and never reinvesting in the local towns. And

771
00:41:46,520 --> 00:41:49,320
Speaker 6: so when you do redevelopment, you want to make sure

772
00:41:49,480 --> 00:41:54,319
Speaker 6: you're not becoming a colony of some corporation. And San

773
00:41:54,360 --> 00:41:57,640
Speaker 6: Francisco's kind of figured that out. We've gotten boards, the

774
00:41:57,719 --> 00:42:02,200
Speaker 6: supervisors that have that on their minds, but on occasion,

775
00:42:02,719 --> 00:42:08,240
Speaker 6: zoning boards and the planning boards can get duped into

776
00:42:08,320 --> 00:42:12,319
Speaker 6: allowing corporations to come in and build fly by night,

777
00:42:12,440 --> 00:42:16,960
Speaker 6: leaning buildings and all sorts of different things that turned

778
00:42:17,040 --> 00:42:21,640
Speaker 6: the town into a colony. Again, it's only because we

779
00:42:21,760 --> 00:42:26,240
Speaker 6: have certain neighborhoods, like if the financial District is in trouble,

780
00:42:26,520 --> 00:42:30,759
Speaker 6: that doesn't bother the hate Ashbury, it doesn't bother the Castro.

781
00:42:31,440 --> 00:42:34,760
Speaker 6: You know, they each have their own economy. Japan Town

782
00:42:34,880 --> 00:42:37,960
Speaker 6: has its own economy, the mission has its own economy.

783
00:42:38,440 --> 00:42:41,960
Speaker 6: And as a matter of fact, Ben Franklin wrote economy.

784
00:42:42,160 --> 00:42:45,200
Speaker 2: I mean, you can say that, but they don't I

785
00:42:45,239 --> 00:42:47,480
Speaker 2: mean they're all part of the same city.

786
00:42:47,280 --> 00:42:54,160
Speaker 6: Right, Well, say, for example, the hate Ashbury, you don't

787
00:42:54,280 --> 00:42:56,759
Speaker 6: find corporate chains up in there.

788
00:42:56,800 --> 00:43:00,000
Speaker 2: All right, that's a very good point. I like you

789
00:43:00,320 --> 00:43:02,640
Speaker 2: the idea that you put out there, the image of

790
00:43:03,800 --> 00:43:06,440
Speaker 2: a neighborhood being a colony of a corporation, that is

791
00:43:06,560 --> 00:43:12,200
Speaker 2: very interesting. Amount of time, Joe Turko, great, thank you

792
00:43:12,239 --> 00:43:14,719
Speaker 2: for coming in here. The time flies. One hour just

793
00:43:14,840 --> 00:43:16,399
Speaker 2: is not enough to get it all done.

794
00:43:16,719 --> 00:43:17,160
Speaker 3: Oh.

795
00:43:17,200 --> 00:43:19,200
Speaker 4: I love being here, man. I love being able to

796
00:43:19,480 --> 00:43:19,680
Speaker 4: you know.

797
00:43:19,880 --> 00:43:23,759
Speaker 2: Yeah. And so since we didn't have enough time to

798
00:43:23,840 --> 00:43:26,080
Speaker 2: dig deep, where can people get in touch with you?

799
00:43:26,760 --> 00:43:28,279
Speaker 4: The best place to get in touch with me is

800
00:43:28,280 --> 00:43:32,800
Speaker 4: my website Living in BOSTONMA dot com. You can shoot

801
00:43:32,840 --> 00:43:35,040
Speaker 4: me an email, my phone numbers on there. I love

802
00:43:35,120 --> 00:43:37,320
Speaker 4: talking to people, and uh yeah, I can't wait to

803
00:43:37,360 --> 00:43:38,200
Speaker 4: hear from all of you.

804
00:43:38,640 --> 00:43:41,040
Speaker 2: Thank you. Joe Turko, Boston realta, owner of the turk

805
00:43:41,040 --> 00:43:47,239
Speaker 2: Go Group brokered by exp Realty. We're gonna learn some

806
00:43:47,320 --> 00:43:51,640
Speaker 2: managers coming up. We have an etiquette instructor gonna save

807
00:43:51,760 --> 00:43:54,920
Speaker 2: you some embarrassment at dinner, in the workplace, at a

808
00:43:54,960 --> 00:43:58,319
Speaker 2: dinner party. You're gonna love this. It's gonna be Fun.

809
00:43:58,360 --> 00:44:00,680
Speaker 2: Coming up on WBZ News Raid ten thirty