Framingham Changes (Boston, Weymouth, Peabody: sales, real estate, home)

[airunxc]

Framingham to become a city (legally and politically), 67K+ people is a city statistically, but surely this will have some impact. What's the impact of this on development and real estate? I would think it may help downtown and near transit.

My biggest fear with possibly buying in Framingham is the economic reliance on retail and big box commercial. Companies are going out of business left and right that are in this industry and I wonder how this will impact the commercial tax base (which in turn impacts residence tax base and availability of jobs). Malls in general are in decline, how will route 9 commercial do? How will Staples corporate sale impact jobs there? In some ways all towns within the I495 corridor benefit from the booming Boston area market place lead by GE, healthcare, education, etc. but wonder if any towns like Framingham (Burlington, Braintree, Peabody also with big malls) will be impact within the macro economic trends going on.

[Dm84]

This is literally a paperwork issue. Will have almost no bearing on anyone's life.

With regards to the reliance of retail, I wouldn't worry about it that much. Today's retail store can always be rezoned in the future.

[chicagoliz]

As I understand it, and I have not researched it at all, it mostly has to do with the form of government the town/city has. I don't really see how it would have a significant impact on whether retail stores locate in the area.

There will always be a need for bricks and mortar retail. No matter how popular online sales get. And people will always want restaurants. Framingham's physical location is very desirable -- it is kind of centrally located to several different employment hubs, it is not far from highly desirable towns, it is not insanely far from Boston, and it has the train and Logan Express.

I would expect Framingham to only increase in value over time.

[ryanms3030]

Originally Posted by chicagoliz

As I understand it, and I have not researched it at all, it mostly has to do with the form of government the town/city has. I don't really see how it would have a significant impact on whether retail stores locate in the area.

There will always be a need for bricks and mortar retail. No matter how popular online sales get. And people will always want restaurants. Framingham's physical location is very desirable -- it is kind of centrally located to several different employment hubs, it is not far from highly desirable towns, it is not insanely far from Boston, and it has the train and Logan Express.

I would expect Framingham to only increase in value over time.

Yes, Framingham property value is based on location and compatibility to other places not based on local businesses.

[495neighbor]

Originally Posted by airunxc

Framingham to become a city (legally and politically), 67K+ people is a city statistically, but surely this will have some impact. What's the impact of this on development and real estate? I would think it may help downtown and near transit.

My biggest fear with possibly buying in Framingham is the economic reliance on retail and big box commercial. Companies are going out of business left and right that are in this industry and I wonder how this will impact the commercial tax base (which in turn impacts residence tax base and availability of jobs). Malls in general are in decline, how will route 9 commercial do? How will Staples corporate sale impact jobs there? In some ways all towns within the I495 corridor benefit from the booming Boston area market place lead by GE, healthcare, education, etc. but wonder if any towns like Framingham (Burlington, Braintree, Peabody also with big malls) will be impact within the macro economic trends going on.

Burlington has a lot more going on career wise than the Burlington mall, with all the tech businesses in that 128 area.

[AtkinsonDan]

Originally Posted by airunxc

Framingham to become a city (legally and politically), 67K+ people is a city statistically, but surely this will have some impact. What's the impact of this on development and real estate? I would think it may help downtown and near transit.

Statistically Framingham was the largest town in Massachusetts. Should population size be a factor in determining the most appropriate form of local government?

[robr2]

Originally Posted by AtkinsonDan

Statistically Framingham was the largest town in Massachusetts. Should population size be a factor in determining the most appropriate form of local government?

Typically, a large population means a more transient (renters) population and a lower voter turnout. A representative town meeting government with a population that size often makes it hard to get people committed to serve as town meeting representatives. Those that do run for office are typically home owners and that can concentrate to power to a select few. Further, those that do run and win tend to run and win forever and that may create a "townie" mentality within town government.

Under a mayor/city council government, it creates a more level playing field especially with the at-large councilors who represent the entire population, not just their district.

What is interesting is that only 11,000 registered voters - about 28% - came out and voted on this.

[massnative71]

In a case like that, yes. It's ridiculous for a community with 67K to retain a town form of government. Weymouth finally made the switch years ago. So did Braintree and Franklin, all smaller than Framingham.

[Dm84]

Originally Posted by robr2

What is interesting is that only 11,000 registered voters - about 28% - came out and voted on this.

I never heard of an April election until I moved to MA. Why we can't vote in November like the rest of the country is beyond me.

[chicagoliz]

Originally Posted by Dm84

I never heard of an April election until I moved to MA. Why we can't vote in November like the rest of the country is beyond me.

A lot of places have primary elections in April or May and will hold votes on those days if an issue comes up. Usually turnout is significantly lower, which plays into the political considerations of the people who want the issue up for a vote. It's not strictly a MA thing, although I agree with you that it is probably better to do these things in November unless there is some urgent reason why it should be done in the Spring.