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LETTER: Current Class A Office Space Vacancies in Framingham

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Since the City of Framingham Executive Branch seems to pay close attention to your website (and HUGE THANKS for all you do keeping us citizens aware of many things not voluntarily shared by the Executive Branch), I thought I would email you a huge concern of mine.

Since it seems the Mayor and her staff were completely asleep at the wheel for the entire stretch of the Covid Pandemic with respect to the sharp decline in water usage (especially by businesses) that caused a multi-million dollar deficit, it would not surprise me the same people are again asleep at the wheel with respect to revenue from commercial real estate.

The maps below show the current Class A Office Space vacancies in Framingham.  Taking a two minute walk from the intersection of Old Connecticut Path and Speen Street you can read prominent signs for available office space in front of eight different buildings.

I dont see how this trend will turnaround and I dont see the owners of this office space paying taxes indefinitely if they cannot boost occupancy rates.

So my question:  what analysis of this has been done by the Mayor’s office and what contingency planning has the Mayor done in case real estate property owners start defaulting on their tax payments?

My fear is in the next year or two we will see another surprise announcement from the Mayor’s Office that we have a new and much larger deficit, this time due to lost commercial tax revenue.  And as we can guess, the Mayor and her staff will try to convince us that anticipating and planning were not the least bit possible.

Thanks, and have a great day!

SIGNATURE REMOVED

from  https://www.propertyshark.com/cre/office/us/ma/framingham/

Two minute walk from OCP/Speen intersection:

  492 Old Connecticut Path

  205 Newbury Street

   1 Speen Street

   3 Speen Street

  10 & 20 Speen Street

  30 Speen Street

  40 Speen Street

  50 Speen Street

 111 Speen Street

 150 Speen Street

Two larger views of the issue:

showing only top 200 results:

RECEIVED 6/8/2021 8:37AM



This post first appeared on Framingham Unfiltered, please read the originial post: here

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LETTER: Current Class A Office Space Vacancies in Framingham

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