Outlook for Commercial and Residential Real Estate Markets for the North Shore

Wednesday I attended the North Shore Chamber of Commerce “Outlook for Commercial and Residential Markets by Industry Leaders,” sponsored by the Boston Lobsters Professional Tennis Team and held at the Peabody Marriott Hotel.

 Bahar Uttam (center), owner, Boston Lobsters Tennis Team 

The event was moderated by Karen Andreas, publisher of the Salem News. The featured industry leaders were Lee Dellicker, president, Windover Construction; Alan Berry, vice president, C.P. Berry Construction; Ted Tye, managing partner, National Development; Steve Drohosky, general manager, Cummings Center, and Stephen Connolly IV, president, Connolly Brothers.

Each speaker gave their forecast from the perspective of their business. The overall projections for the North Shore were very positive, thanks to rising employment  figures and the vastly improved financial market. Massachusetts is ahead of the curve and Governor Patrick is working to help streamline the permitting process. All five speakers agreed the market will continue to support sustainability and LEED-certified building. Alan Berry provided great graphics on the rising and falling worth of homeownership over the past 100 years.

Lee Dellicker (center), president, Windhover Construction

When the panel was asked about the permitting process, Lee Dellicker, president, Windhover Construction advised the audience that when you believe a project is beneficial to your community, to let your voice be heard because, as is often the case in a great majority of projects, community leaders only hear from the small, but very vocal, anti-development minority.

Ted Tye’s firm, National Development, is developing Lynnfield Market Street

Exciting NewsDavios Restaurant, along with a super deluxe Whole Foods, are two of the much anticipated anchors coming to Market Street Lynfield. Davios Newbury Street is one of my very favorite restaurants and when we lived in the Back Bay it was our special restaurant for a romantic evening out. Steve DeFillipo, owner of Davios, is a former longtime resident of Lynnfield and currently resides in Wenham with his family.

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