How diverse investor pools are will also be considered Developers who want to buy land that Boston owns will have to disclose how much of their workforce and how many of their investors are minorities and women under plans that the city is expected to roll out in mid-October.

The plans also call for asking developers to spell out how renters would not be displaced by their projects. Boston will use the answers to these questions to help determine which developers to sell sites to, per the Globe’s Tim Logan.

The move is designed to address the long-simmering criticism that the spoils of Boston’s historic building boom of late have flowed disproportionately to its more affluent residents and to more affluent newcomers. The city has already tested the disclosure plans with the site of the former Winthrop Square Garage, which the city sold to developer Millennium Partners. That firm is now building one of the tallest towers in Boston. The city

Article From: "Curbed Boston"   Read full article

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McDevitt Law Group

Massachusetts Real Estate Attorneys
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