Category: 3. Business

  • £50,000 grant secured to help more West Berkshire residents charge electric vehicles (EVs) at home

    £50,000 grant secured to help more West Berkshire residents charge electric vehicles (EVs) at home


    Funding will support safe cross-pavement charging solutions for households without driveways

    West Berkshire Council has secured £50,000 through the Department for Transport’s EV Pavement Channel Grant to help residents without off-street parking charge their electric vehicles (EVs) safely and affordably near or at their home.

    The funding will support the installation of cross-pavement charging channels – a practical solution that allows residents to run a charging cable across the pavement without creating a trip hazard. This will make home charging possible for households who do not have off-street parking.

    Being able to use domestic electricity tariffs, which are often significantly cheaper than public charging points, will help reduce costs for EV owners and encourage more residents to consider switching to cleaner vehicles. This supports the Council’s wider goals to cut carbon emissions and improve local air quality.

    The grant will cover the cost of the Section 178 Licence, which residents would normally pay for when applying for a cross-pavement channel installation. Some households may also be eligible for an additional Government grant to help fund both the charge point and the charging channel (see here for more details).

    Cllr Stuart Gourley, Executive Member for Environment and Transport at West Berkshire Council, said:

    “We know that many residents want to switch to electric vehicles but are held back because they cannot charge at home. This funding helps us remove a major barrier by making safe, affordable home charging an option for more people.

    “It’s an important step in supporting cleaner travel and improving air quality across West Berkshire. We’re proud to lead initiatives that not only reduce emissions but also empower local communities to embrace sustainable energy solutions.”

    Aviation, Maritime and Decarbonisation Minister, Keir Mather, said:

    “Our investment is backing the rollout of EV chargers in West Berkshire and helping residents install home charging solutions more easily and cheaply, so they can charge up for as little as 2p per mile.

    “We know home charging isn’t just for those with driveways, and that’s why we have a national £25 million scheme to help people install discreet cross-pavement gullies.

    “Alongside this we’re also tackling upfront costs with £1.3 billion announced at the Budget to extend the Electric Car Grant to 2030, saving drivers up to £3,750 off new EVs, alongside an extra £200 million to rollout more public chargers.”

    Full guidance and application details are available at: www.westberks.gov.uk/evguidance.

    We are delighted to be among the first local authorities to receive this funding, demonstrating our proactive approach to expanding sustainable transport options and ensuring fair access to EV charging for all residents.

     

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  • Money Market Mutual Funds | Federal Reserve History

    Since the 1970s, MMMFs have become important parts of short-term money markets.

    Money market mutual funds (MMMFs) arose in the 1970s. At the time, market interest rates were higher than the rates that commercial banks were permitted to pay on their deposits by federal banking regulation, spurring the growth of investment alternatives outside of banks including MMMFS. Since MMMFS are not banks, they developed largely outside of the sphere of Federal Reserve operations or regulations until the advent of severe financial crises in 2008 and 2020, when the Fed made emergency loans to support MMMFs and the broader economy. In addition, since 2013 the Fed has interacted with MMMFs regularly through open market operations in the context of implementing monetary policy.

    Early growth

    Money market funds began largely as a workaround to regulations that limited the interest rates depository institutions were allowed to pay depositors. These limits, known as Regulation Q, were required by federal law beginning in 1933 and were implemented by the Federal Reserve and other financial regulators. As interest rates rose in the 1970s, Regulation Q gave depositors an incentive to find short-term investments outside of the banking system, such as Treasury bills, commercial paper, and repurchase agreements. MMMFs offered consumers the ability to invest in those instruments with some additional conveniences, including the ability to withdraw funds at any time, diversify across instruments, choose any specific investment size, and economize on administrative expenses.

    These basic forces led to the establishment of the first MMMF in 1972. The number of funds grew to 36 in 1975, 90 in 1980, and 649 in 1990.1

    Officials at depository institutions such as banks expressed concern that they could not compete with the interest rates offered by MMMFs. At times in the 1970s, depository institutions lost substantial amounts of funds to MMMFs. Officials at small banks protested that they were at a particular disadvantage, since MMMFs returned some funds to large banks by investing in their certificates of deposit, but did not invest in CDs at smaller banks. Federal Reserve officials agreed that interest rate regulations should be adjusted to level the playing field, and so did Congress. Governor J. Charles Partee, for example, testified in 1980 that the Federal Reserve supported the “gradual deregulation of maximum rates payable on deposit instruments” rather than extending controls to money market funds, which was another proposal at the time (Partee 1980). The Monetary Control Act of 1980 required the phasing out of regulations on saving deposit interest rates. Thus, the presence of MMMFs played a central role in the unwinding of these 1930s-era regulations.

    Episodes of losses and runs

    Market participants and regulators were aware of the risk of runs on MMMFs soon after the first ones were established (Bouveret, Martin, and McCabe 2022). For example, in the 1978 edition of The Money Market (p. 78), Marcia Stigum posed the following hypothetical:

    “Suppose short-term interest rates were to rise sharply; then the market value of the securities in the fund’s portfolio would be temporarily depressed. Suppose also that a large number of investors simultaneously redeemed their fund shares for cash. It is conceivable that such a fund would be forced to sell off some of its securities at a loss, and that the actual market value of the securities backing its remaining outstanding shares would fall below its fixed share value. In that case, if redemptions continued, the fund would run out of money before all shares were redeemed.”

    MMMFs are vulnerable to runs because they use accounting methods designed to provide a stable share value, typically $1.00. If investors perceive that a fund has or will have losses, investors have an incentive to be the first to withdraw at the fixed value, leaving losses for the remaining investors to absorb.

    Run risk was largely unrealized during the first few decades of operations at MMMFs, though some episodes of losses did occur. In 1980, abrupt and large increases in interest rates caused losses for one MMMF. In 1989 and 1990, defaults of two commercial paper issuers caused losses for about a dozen MMMFs. In 1994, investments in derivatives tied to interest rates led to losses again for about a dozen MMMFs. In all these cases except one, investors did not lose money because losses were covered by the financial institutions that sponsored the funds. The exception was the Community Bankers U.S. Government Fund, which in 1994 became the first money market fund to “break the buck” and fail because its assets were worth less than $1.00 per share. No sector-wide run developed, though.2

    A seminal moment in the history of MMMFs came in September 2008, when the Reserve Primary Fund suffered losses on commercial paper issued by Lehman Brothers. Investors staged a run, which quickly spread to affect many other money market funds. Over $400 billion was withdrawn from prime MMMFs, i.e., those that invested not just in safe government debt but also in somewhat riskier assets such as commercial paper (Makhija 2025). MMMFs experienced a second major episode of severe runs in 2020 at the onset of the pandemic.

    To protect investors, the Securities and Exchange Commission issued its first regulation governing MMMFs in 1977. That regulation sought to limit the use of certain accounting practices that supported fixed $1.00 valuations (SEC 1977).3 However, after strong resistance from the industry, the SEC issued exemptions to that rule and then switched approaches with a new rule issued in 1983, known as rule 2a-7. This rule, which has since been revised several times, has governed several practices at MMMFs, including limitations on the maturity, credit quality, and liquidity of MMMF investments (Investment Company Institute 2012). After the 2008 crisis, the SEC revised this rule to allow funds to impose gates or fees to stop runs. However, in practice, the potential for MMMFs to impose gates or fees exacerbated runs in 2020 rather than preventing them, and revisions in 2023 largely removed the gates and fees. Much MMMF activity has migrated into funds that can invest only in government securities, which are subject to less stringent regulation because of the relative safety of those investments.

    Federal Reserve lender-of-last-resort interactions with MMMFs

    MMMFs are not depository institutions, so they do not normally have access to loans from the Federal Reserve. However, the Federal Reserve is the lender of last resort to the American financial system, and in exigent and unusual circumstances Federal Reserve Banks can extend loans more widely. These powers were invoked in 2008 and 2020 to make loans that supported MMMFs amidst the severe runs on these funds. Federal Reserve officials were concerned that the disruption of MMMFs could significantly impact economic activity. In particular, because MMMFs could not continue their normal purchases of commercial paper, large corporations that depended on the commercial paper market encountered severe strains.

    In both 2008 and 2020, the Federal Reserve made loans to banks that purchased commercial paper from MMMFs. In 2008, the facility that accomplished this effort was named the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility. In 2020, a similar facility was named the Money Market Fund Liquidity Facility. In 2008, the Fed created two additional facilities, reflecting the severity of that crisis. In the Commercial Paper Funding Facility, the Fed made loans to a limited liability company that purchased newly issued commercial paper. The Fed also made loans available directly to MMMFs in the Money Market Investor Funding Facility, though this facility was never used.

    Federal Reserve monetary policy interactions with MMMFs

    The growth of MMMFs in the 1970s first began to affect the Fed’s conduct of monetary policy by affecting measurements of the money stock. Because investors used MMMFs as substitutes for deposit accounts, flows between deposits and MMMFs made existing money stock measures volatile and less useful (Partee 1980). As a result, the Board of Governors redefined monetary aggregates in 1980 to include MMMFs in the M2 money stock measure (Simpson 1980).4

    While bank and thrift deposits are subject to reserve requirements, MMMF shares have not been. Some in Congress supported proposals to extend reserve requirements to MMMFs, as did Paul Volcker, chairman of the Board of Governors from 1979 to 1987. Volcker suggested that extending reserve requirements to MMMFs would help the Federal Reserve implement monetary policy. At the time, the Fed’s approach to monetary policy focused on targeting monetary aggregates, and reserve requirements helped make the level of those aggregates more predictable. Volcker said that “there is a clear logical case for closing a gap in a monetary control system built on the premise that reserves should be assessed against transaction balances wherever they might be held” (Volcker 1981). In addition, this proposal addressed the concerns of officials at depository institutions about an unlevel playing field; since the Federal Reserve did not pay interest on reserves at the time, banks were at a competitive disadvantage against MMMFs. Indeed, the Monetary Control Act of 1980 had extended reserve requirements to S&Ls and savings banks that were offering transaction accounts. By the same logic, Volcker and others recommended extending those requirements to MMMFs. However, Congress chose against this path. Money fund stakeholders and the SEC successfully argued that MMMFs were sufficiently distinct from banks to not warrant reserve requirements. The prevailing tide of the early 1980s was against regulation and in favor of promoting financial innovation.5

    A few decades later, the Federal Reserve began interacting with MMMFs directly in the conduct of monetary policy. In contrast to the way monetary policy was implemented in 1981, by 2013 the Fed’s approach was to target the level of short-term interest rates rather than measures of the money stock. To that end, the Fed began interacting with MMMFs through the overnight reverse repurchase facility (ON RRP). Because overnight repurchase agreements are a large part of short-term money markets, the Fed uses the facility to transact with major participants in that market, including MMMFs. The ON RRP is designed to ensure that short-term interest rates do not fall below the Federal Reserve’s target range. Participants can earn interest by temporarily selling a security to the Fed overnight and buying it back the next day at a slightly lower price.

    Conclusion

    In a 2023 interview, former Fed Chair Ben Bernanke judged that the Fed would benefit from new legislation that would fix “a structural flaw that was never corrected by Congress, which is that the Fed is restricted on normal grounds to lending only to banks and not to other types of financial institutions” (Somner 2023). The roots of these statutory limitations go back to the Fed’s establishment in 1913, when the financial system was more centered on banks and MMMFs did not yet exist. For their part, MMMF stakeholders have generally preferred that MMMFs remain outside the banking system and banking regulation.

     

    References

    Bary, Andrew. (1994) “Investors’ Money Slips Through a Crazy Loophole in Money Fund Rules.” Barron’s, October 3, p. MW10.

    Bouveret, Antoine, Antoine Martin, and Patrick E. McCabe. (2022) “Money Market Fund Vulnerabilities: A Global Perspective.” Finance and Economics Discussion Series 2022-012. Washington: Board of Governors of the Federal Reserve System. Available online.

    Carrington, Tim and Tom Herman. (1980) “How Adviser’s Gamble on Interest Rates Led to Trouble for an ILA Money Fund.” Wall Street Journal, October 9, p. 31.

    Clements, Jonathan. (1990) “Money Market Funds Shedding Lower-Grade Paper.” Wall Street Journal, October 22, p. C1.

    Foldessy, Edward P. and David J. Blum. (1980) “Salomon Brothers and Chicago Bank Act in Bid to Avert Run on Big Money Fund.” Wall Street Journal, October 8, p. 3.

    Hershey, Robert D. (1973) “Overnight Mutual Funds for Surplus Assets,” New York Times, January 7, p. 163.

    Investment Company Institute. (2012) “History of Rule 2a-7 – The Evolution of Money Market Fund Regulation.” Available online.

    Jasen, Georgette and Jeffrey Taylor. (1994) “Derivatives Force First Closure of Money Fund.” Wall Street Journal, September 28, p. C1.

    Laing, Jonathan R. (1990) “Never Say Never—Or, How Safe is Your Money Market Fund?” Barron’s, March 26, p. 6.

    Makhija, Anmol. (2025) “United States: Reserve Primary Fund Suspension, 2008.” Journal of Financial Crises, vol. 7 no. 2.

    Partee, J. Charles. (1980) Statement before the Subcommittee on Financial Institutions of the Committee on Banking, Housing and Urban Affairs, United States Senate. January 24. Available on FRASER.

    Securities and Exchange Commission (1977). Valuation of Debt Instruments by Money Market Funds and Certain Other Open-End Investment Companies. Federal Register, vol. 42. No. 109, June 7, p. 28999. Available on FRASER.

    Securities and Exchange Commission (1990). Revision to Rules Regulating Money Market Funds. Federal Register, vol. 25 no. 143, July 25, p. 30239. Available on FRASER.

    Simpson, Thomas D. (1980) “The Redefined Monetary Aggregates.” Federal Reserve Bulletin, February, pp. 97-114. Available on FRASER.

    Somner, Jeff. (2023) “Ben Bernanke Talks About Bank Runs, Inflation, A.I., Market Bubbles, and More.” New York Times, June 9.

    Stigum, Marcia. (1978) The Money Market: Myth, Reality, and Practice. Dow Jones-Irwin.

    Subcommittee on Financial Institutions of the Committee on Banking, Housing, and Urban Affairs, United States Senate (1980). Hearings on Money Market Mutual Funds. Available on FRASER.

    Volcker, Paul A. (1981) Statement before the Subcommittee on Domestic Monetary Policy, Committee on Banking, Finance and Urban Affairs, June 25. Available on FRASER.


    Published December 12, 2025. Jonathan Rose contributed to this article. Please cite this essay as: Federal Reserve History. “Money Market Mutual Funds.” December 12, 2025. See disclaimer and update policy.

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  • Department of State to Add “Specialized Trainers” to B-1, Business Traveler, Eligibility List | News & Events

    Department of State to Add “Specialized Trainers” to B-1, Business Traveler, Eligibility List | News & Events

    On Dec. 4, 2025, the U.S. Dept. of State updated its Foreign Affairs Manual to add “Specialized Trainers” to its list of eligible activities for B-1, Business Visitor visa issuance. This update comes as discussions continue between U.S. and South Korean authorities, following the September 2025 ICE Workplace Enforcement Raid, to permit certain highly-specialized trainers to temporarily enter the U.S. to conduct training.

    Scope of B-1 Visas

    The B-1, Business Visitor visa permits certain Foreign Nationals to temporarily enter the U.S. for no more than 6 months to conduct certain authorized business activities that do not constitute “work” and if the Business Visitor will not receive any remuneration while in the U.S. from a U.S. entity. The determination whether the B-1 classification is appropriate is a case-by-case determination, and the following activities may fall within the scope of the B-1 visa (non-exhaustive):

    • Investors seeking investments in the U.S.
    • Attend business meetings with colleagues or customers, consult with business associates
    • Conduct contract or business negotiations
    • Attend short training (preferably classroom)
    • Take part in exhibitions, conventions or industry/professional conferences/seminars (as an attendee or as a speaker)
    • Undertake independent research
    • Certain athletes (and their personnel) or participants in international sporting events (g., the upcoming FIFA World Cup)

    Certain Commercial or Industrial Workers might also be eligible for B-1 visas if coming to the U.S. to “install, service, or repair commercial or industrial equipment or machinery,” so long as the equipment/machinery was purchased from a company outside the United States, and such post-sales services are required under the terms of the sales contract.

    Eligibility Requirements for a Specialized Trainer

    The new Specialized Trainer category is similar to that of Commercial or Industrial Workers, as the training to be conducted must be on “industrial equipment, machinery, or processes that have been acquired or are sourced from a company outside the United States,” in support of a qualifying project (such as an installation project or plant/facility ramp-up project).  Additionally, the visa applicant must show that:

    • The training or transfer of knowledge to U.S. workers will be of specialized or proprietary techniques, skills, or know-how, and
    • The visa applicant possesses unique knowledge that is not widely available in the United States (somewhat similar to the L-1B, Specialized Knowledge visa).

    If approved, the visa will be annotated “B-1 SPECIALIZED TRAINER.”

    This new category should provide greater flexibility for foreign entities doing business with U.S. companies, to provide knowledge transfer to the local workforce and to continue their investments in the United States.  It is critical, however, that foreign nationals and their employers strictly comply with the requirements of this new B-1 category while in the U.S.

    If you think you or your employee might be eligible for B-1 Specialized Trainer processing, or if you have any question regarding the content of this alert, contact a member of Clark Hill’s Immigration Law Practice.

    This publication is intended for general informational purposes only and does not constitute legal advice or a solicitation to provide legal services. The information in this publication is not intended to create, and receipt of it does not constitute, a lawyer-client relationship. Readers should not act upon this information without seeking professional legal counsel. The views and opinions expressed herein represent those of the individual author only and are not necessarily the views of Clark Hill PLC. Although we attempt to ensure that postings on our website are complete, accurate, and up to date, we assume no responsibility for their completeness, accuracy, or timeliness.

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  • Phase 3 STAR-221 Study of First-Line Domvanalimab/Zimberelimab Plus Chemo in Upper GI Cancers to Be Discontinued

    Phase 3 STAR-221 Study of First-Line Domvanalimab/Zimberelimab Plus Chemo in Upper GI Cancers to Be Discontinued

    The phase 3 STAR-221 study (NCT05568095) evaluating the anti-TIGIT antibody domvanalimab in combination with the anti–PD-1 antibody zimberelimab and chemotherapy as a first-line treatment for patients with advanced gastric and esophageal cancers is being discontinued due to futility, following a recommendation from the study’s independent data monitoring committee.1

    The committee’s recommendation followed a review of data from a prespecified interim analysis of overall survival (OS) of STAR-221, at which time the domvanalimab-based combination did not improve OS compared with nivolumab (Opdivo) plus chemotherapy. The regimen’s safety profile was comparable to that of nivolumab plus chemotherapy, and no new safety data were identified.

    “Patients in the domvanalimab-containing arm derived the same benefit as patients treated in the control arm, and there were no new safety concerns,” Richard Markus, MD, chief medical officer of Arcus Biosciences, stated in a news release. “We are disappointed with this outcome and sincerely thank all those who participated in the study and made this research possible. We remain committed to advancing research for people living with cancer and immune-related diseases.”

    In addition to STAR-221, the ongoing, multi-arm, global phase 2 EDGE-Gastric study (NCT05329766) evaluating the safety and efficacy of various domvanalimab-based and zimberelimab-based combinations in locally advanced unresectable or metastatic gastric, gastroesophageal junction (GEJ), or esophageal adenocarcinoma, will also be discontinued.1,2

    Arcus Biosciences and Gilead Sciences, the co-developers of domvanalimab, are currently in communication with study investigators to determine appropriate next steps for patients in the study. A detailed analysis will be conducted to further clarify these results.

    “The results from STAR-221 are not what we had hoped for, and we have important work ahead to meet the needs of patients on our domvanalimab studies and also accelerate the casdatifan [AB521] and inflammation and immunology programs,” Terry Rosen, chief executive officer of Arcus, added in a news release.1 “We are fortunate to be well capitalized and plan to focus our resources on casdatifan, including studying new early-line combinations in kidney cancer, broadening its development into new tumor types, and extending our capabilities beyond oncology.”

    What prior data were reported with domvanalimab plus zimberelimab and chemotherapy in EDGE-Gastric?

    Arm A1 of EDGE-Gastric enrolled treatment-naive patients with locally advanced unresectable or metastatic gastric, GEJ, or esophageal adenocarcinoma.2,3 All patients received 1600 mg of domvanalimab and 480 mg of zimberelimab intravenously every 4 weeks, plus chemotherapy every 2 weeks, until disease progression or unacceptable toxicity.

    Domvanalimab Plus Zimberelimab and Chemotherapy: Reasons for Discontinued Development

    • The phase 3 STAR-221 study evaluating first-line domvanalimab plus zimberelimab and chemotherapy for advanced gastric and esophageal cancers is being discontinued due to futility.
    • This decision was recommended by the study’s independent data monitoring committee after a review of data from a prespecified interim analysis failed to show improved OS with the combination vs nivolumab plus chemotherapy.
    • The phase 2 EDGE-Gastric study, which is evaluating various combinations of domvanalimab plus zimberelimab and chemotherapy in advanced GI cancers, is also being discontinued.

    The study’s coprimary end points were investigator-assessed overall response rate (ORR) and safety.3 Secondary end points included OS, progression-free survival (PFS), disease control rate, and duration of response (DOR) in both the overall patient population and in PD-L1 expression subgroups.

    First OS results and updated efficacy findings from arm 1 of EDGE-Gastric were presented during the 2025 ESMO Congress.2 At the data cutoff of March 3, 2025, and a median follow-up of 26.4 months, domvanalimab plus zimberelimab and chemotherapy produced a median OS of 26.7 months (90% CI, 18.4-not evaluable) and a median PFS of 12.9 months (90% CI, 9.8-14.6) in the overall patient population (n = 41). The confirmed ORR per RECIST 1.1 criteria was 59% (90% CI, 45%-72%). No unexpected safety signals were observed at the time of data cutoff, and the regimen was generally well tolerated.

    Results from EDGE-Gastric supported the ongoing development of this regimen in STAR-221.

    What was the design of STAR-221?

    STAR-221 was a global, randomized, open-label, phase 3 trial evaluating domvanalimab plus zimberelimab and chemotherapy vs nivolumab plus chemotherapy as frontline therapy for patients with locally advanced, unresectable or metastatic HER2-negative gastric, GEJ, and esophageal adenocarcinomas.2 The study enrolled 1,040 patients from approximately 30 countries.

    Patients were randomly assigned 1:1 to one of 2 treatment arms: 1600 mg of IV domvanalimab plus 480mg of zimberelimab IV every 4 weeks and FOLFOX (oxaliplatin, leucovorin, fluorouracil) every 2 weeks, or 1200 mg of domvanalimab plus 360 mg of zimberelimab every 3 weeks and CAPOX (capecitabine and oxaliplatin) every 3 weeks; vs 240mg of nivolumab IV and FOLFOX every 2 weeks, or 360 mg of nivolumab plus CAPOX every 3 weeks.

    The study’s primary end points were OS in PD-L1–high tumors, PD-L1–positive tumors, and in the intention-to-treat population. PFS, ORR, DOR, safety, and patient-reported outcomes all served as secondary end points.

    References

    1. Arcus provides update on phase 3 STAR-221 study and concentrates its R&D investment on casdatifan and emerging inflammation and immunology portfolio. News release. Coherus. December 12, 2025. Accessed December 12, 2025. https://investors.arcusbio.com/investors-and-media/press-releases/press-release-details/2025/Arcus-Provides-Update-on-Phase-3-STAR-221-Study-and-Concentrates-Its-RD-Investment-on-Casdatifan-and-Emerging-Inflammation-and-Immunology-Portfolio/default.aspx
    2. Anti-TIGIT domvanalimab plus anti-PD-1 zimberelimab and chemotherapy showed 26.7 months of median overall survival as first-line treatment of unresectable or advanced gastroesophageal adenocarcinomas in the phase 2 EDGE-Gastric study. News Release. Arcus Biosciences. October 12, 2025. December 12, 2025. https://investors.arcusbio.com/investors-and-media/press-releases/press-release-details/2025/Anti-TIGIT-Domvanalimab-Plus-Anti-PD-1-Zimberelimab-and-Chemotherapy-Showed-26-7-Months-of-Median-Overall-Survival-as-First-Line-Treatment-of-Unresectable-or-Advanced-Gastroesophageal-Adenocarcinomas-in-the-Phase-2-EDGE-Gastric-Study/default.aspx
    3. Janjigian YY, Oh DY, Pelster M, Wainberg ZA, Prusty S, Nelson S, DuPage A, Thompson A, Koralek DO, Sison EAR, Rha SY. Domvanalimab and zimberelimab in advanced gastric, gastroesophageal junction or esophageal cancer: a phase 2 trial. Nat Med.(2025). doi: 10.1038/s41591-025-04022-w.

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  • Making clean energy investments more successful | MIT News

    Making clean energy investments more successful | MIT News

    Governments and companies constantly face decisions about how to allocate finite amounts of money to clean energy technologies that can make a difference to the world’s climate, its economies, and to society as a whole. The process is inherently uncertain, but research has been shown to help predict which technologies will be most successful. Using data-driven bases for such decisions can have a significant impact on allowing more informed decisions that produce the desired results.

    The role of these predictive tools, and the areas where further research is needed, are addressed in a perspective article published Nov. 24 in Nature Energy, by professor Jessika Trancik of MIT’s Sociotechnical Systems Research Center and Institute of Data, Systems, and Society and 13 co-authors from institutions around the world.

    She and her co-authors span engineering and social science and share “a common interest in understanding how to best use data and models to inform decisions that influence how technology evolves,” Trancik says. They are interested in “analyzing many evolving technologies — rather than focusing on developing only one particular technology — to understand which ones can deliver.” Their paper is aimed at companies and governments, as well as researchers. “Increasingly, companies have as much agency as governments over these technology portfolio decisions,” she says, “although government policy can still do a lot because it can provide a sort of signal across the market.”

    The study looked at three stages of the process, starting with forecasting the actual technological changes that are likely to play important roles in coming years, then looking at how those changes could affect economic, social, and environmental conditions, and finally, how to apply these insights into the actual decision-making processes as they occur.

    Forecasting usually falls into two categories, either data-driven or expert-driven, or a combination of those. That provides an estimate of how technologies may be improving, as well as an estimate of the uncertainties in those predictions. Then in the next step, a variety of models are applied that are “very wide ranging,” Trancik says, “different models that cover energy systems, transportation systems, electricity, and also integrated assessment models that look at the impact of technology on the environment and on the economy.”

    And then, the third step is “finding structured ways to use the information from predictive models to interact with people that may be using that information to inform their decision-making process,” she says. “In all three of these steps, how you need to recognize the vast uncertainty and tease out the predictive aspects. How you deal with uncertainty is really important.”

    In the implementation of these decisions, “people may have different objectives, or they may have the same objective but different beliefs about how to get there. And so, part of the research is bringing in this quantitative analysis, these research results, into that process,” Trancik says. And a very important aspect of that third step, she adds, is “recognizing that it’s not just about presenting the model results and saying, ‘here you go, this is the right answer.’ Rather, you have to bring people into the process of designing the studies and interacting with the modeling results.”

    She adds that “the role of research is to provide information to, in this case, the decision-making processes. It’s not the role of the researchers to push for one outcome or another, in terms of balancing the trade-offs,” such as between economic, environmental, and social equity concerns. It’s about providing information, not just for the decision-makers themselves, but also for the public who may influence those decisions. “I do think it’s relevant for the public to think about this, and to think about the agency that actually they could have over how technology is evolving.”

    In the study, the team highlighted priorities for further research that needs to be done. Those priorities, Trancik says, include “streamlining and validating models, and also streamlining data collection,” because these days “we often have more data than we need, just tons of data,” and yet “there’s often a scarcity of data in certain key areas like technology performance and evolution. How technologies evolve is just so important in influencing our daily lives, yet it’s hard sometimes to access good representative data on what’s actually happening with this technology.” But she sees opportunities for concerted efforts to assemble large, comprehensive data on technology from publicly available sources.

    Trancik points out that many models are developed to represent some real-world process, and “it’s very important to test how well that model does against reality,” for example by using the model to “predict” some event whose outcome is already known and then “seeing how far off you are.” That’s easier to do with a more streamlined model, she says.

    “It’s tempting to develop a model that includes many, many parameters and lots of different detail. But often what you need to do is only include detail that’s relevant for the particular question you’re asking, and that allows you to make your model simpler.” Sometimes that means you can simplify the decision down to just solving an equation, and other times, “you need to simulate things, but you can still validate the model against real-world data that you have.”

    “The scale of energy and climate problems mean there is much more to do,” says Gregory Nemet, faculty chair in business and regulation at the University of Wisconsin at Madison, who was a co-author of the paper. He adds, “while we can’t accurately forecast individual technologies on their own, a variety of methods have been developed that in conjunction can enable decision-makers to make public dollars go much further, and enhance the likelihood that future investments create strong public benefits.”

    This work is perhaps particularly relevant now, Trancik says, in helping to address global challenges including climate change and meeting energy demand, which were in focus at the global climate conference COP 30 that just took place in Brazil. “I think with big societal challenges like climate change, always a key question is, ‘how do you make progress with limited time and limited financial resources?’” This research, she stresses, “is all about that. It’s about using data, using knowledge that’s out there, expertise that’s out there, drawing out the relevant parts of all of that, to allow people and society to be more deliberate and successful about how they’re making decisions about investing in technology.”

    As with other areas such as epidemiology, where the power of analytical forecasting may be more widely appreciated, she says, “in other areas of technology as well, there’s a lot we can do to anticipate where things are going, how technology is evolving at the global or at the national scale … There are these macro-level trends that you can steer in certain directions, that we actually have more agency over as a society than we might recognize.”

    The study included researchers in Massachusetts, Wisconsin, Colorado, Maryland, Maine, California, Austria, Norway, Mexico, Finland, Italy, the U.K., and the Netherlands. 

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  • Updated data for Lilly's Inluriyo™ (imlunestrant) reinforce efficacy results as monotherapy and in combination with Verzenio® (abemaciclib) in ER+, HER2- advanced breast cancer – Eli Lilly

    1. Updated data for Lilly’s Inluriyo™ (imlunestrant) reinforce efficacy results as monotherapy and in combination with Verzenio® (abemaciclib) in ER+, HER2- advanced breast cancer  Eli Lilly
    2. Lilly shifts ambition for broader oral SERD label to largest oncology trial in company history  Fierce Pharma
    3. PFS Continues to Improve With Imlunestrant in Advanced Breast Cancer  CancerNetwork
    4. Inluriyo/Verzenio Extends Treatment Benefit in ER+/HER2– Breast Cancer  Cure Today
    5. EMBER-3 Trial: Imlunestrant in ER+/HER2− Breast Cancer  Oncodaily

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  • Governor Hochul Announces Completion of 576-unit Affordable Housing Development in Brooklyn

    Governor Hochul Announces Completion of 576-unit Affordable Housing Development in Brooklyn

    Governor Kathy Hochul today announced the completion of Alafia Phase 1, a $387 million mixed-use development that will create 576 affordable homes in the East New York neighborhood of Brooklyn. The project is the first phase of a six-phase plan to redevelop the former Brooklyn Developmental Center campus into more than 2,400 affordable homes and is part of the State’s Vital Brooklyn Initiative — a comprehensive community development program designed to address social, economic, and health disparities in Central Brooklyn. Under Governor Hochul’s leadership, New York State Homes and Community Renewal has created or preserved nearly 10,000 affordable homes throughout Brooklyn. Alafia Phase 1 continues this effort and complements Governor Hochul’s $25 billion five-year Housing Plan which is on track to create or preserve 100,000 affordable homes statewide.

    “The Alafia development is a powerful example of how we can transform underutilized State-owned land to create vibrant, healthy communities,” Governor Hochul said. “By combining affordable housing, supportive services, and high-quality health care in one sustainable development, we are delivering the type of holistic investments that Central Brooklyn deserves. These 576 new homes reflect our commitment to advancing health equity, expanding housing opportunities, and building a stronger and more resilient Brooklyn for generations to come.”

    Alafia Phase 1 was built on the site of the Brooklyn Developmental Center, a former State institution for individuals with disabilities. As part of the Vital Brooklyn Initiative, it integrates housing, health, and economic benefits for the surrounding community. The development expands access to preventative health care with a 15,000-square-foot One Brooklyn Health outpatient clinic providing primary and specialty care, blood-drawing and infusion services, an on-site laboratory, and a pharmacy. The clinic’s design and programming were shaped through extensive community engagement to ensure that services meet the specific needs of local residents.

    The all-electric development incorporates a micro-grid, geothermal system for heating and cooling, rooftop solar, wastewater heat recovery systems, a green roof, urban farm, on-site composter, and Energy Star appliances. These features lower utility costs, reduce energy consumption, and improve indoor air quality. There is also 7,800 square-feet of retail space for small local businesses including a supermarket, enhancing the community’s economy and access to fresh food.

    All apartments are available to households earning up to 80 percent of Area Median Income.

    The development includes 132 supportive apartments reserved for eligible individuals with mental illness or individuals with developmental disabilities. On-site support services will be delivered by Services for the UnderServed and will include care coordination, daily living skills training, health and wellness coaching, employment support, and community-based mental health services.

    The development also includes units that are accessible and equipped for people with mobility impairments, as well as hearing and visual impairments. 

    The project is developed by L+M Development Partners, Services for the UnderServed, Apex Building Group, and RiseBoro.

    State financing for Alafia Phase 1 includes $38.1 million in permanent tax-exempt bonds, Federal Low-Income Housing Tax Credits that will generate $117.8 million in equity from the private sector and $174.9 million in subsidy from New York State Homes and Community Renewal’s (HCR) New Construction Program and Community Investment Fund. The development also benefits from $946,000 in Clean Energy Initiative funding, a partnership between HCR and the New York State Energy Research and Development Authority (NYSERDA). NYSERDA also provided over $850,000 in support for rooftop solar through the State’s NY-Sun initiative. The project is also expected to qualify for federal Solar and Geothermal Tax Credits that will generate $670,000 in equity. The New York State Office of Mental Health (OMH) is providing $430,000 in a Program Development Grant. Operational funding for the supportive units is funded through the New York State Office for People With Developmental Disabilities (OPWDD), as well as funded through the Empire State Supportive Housing Initiative and administered by OMH. The project’s site was owned by the Dormitory Authority of the State of New York and was acquired by the developers.

    In 2018, Empire State Development, in partnership with New York State Homes and Community Renewal, issued a Request for Proposals to redevelop the Brooklyn Developmental Center campus in East New York into a modern, mixed-use wellness-oriented community. ESD facilitated the procurement process through its General Project Plan, ultimately selecting a development team consisting of Apex Building Company, L+M Development Partners, Services for the UnderServed, and RiseBoro Community Partnership. The master plan for the six-phase redevelopment was designed by Dattner Architects.

    New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “The first phase of Alafia delivers on the promise of the Vital Brooklyn Initiative by bringing together affordable housing, supportive services, health care, and sustainability in one thoughtfully planned community. This development reflects years of engagement with local residents and a shared vision for a healthier, more equitable East New York. We are grateful to our partners at OMH, OPWDD, One Brooklyn Health, and the entire development team for their commitment to this transformative project.”

    New York State Office of Mental Health Commissioner Dr. Ann Sullivan said, “This phase of the Alafia project is providing safe, affordable homes for individuals living with mental illness along with the supportive services designed to ensure that they live and thrive in their community. The completion of this project reflects Governor Hochul’s continued support for programs like the Empire State Supportive Housing Initiative, which are expanding supportive housing statewide.”

    New York State Office for People With Developmental Disabilities Commissioner Willow Baer said, “The transformation we have been able to achieve at the former Brooklyn Developmental Center moves New York from a time of institutionalization to the freedoms of independent living that Alafia will provide. This is a hallmark of the progress made over the last fifty years to include New Yorkers with developmental disabilities as respected and valuable members of our communities. Thank you to Governor Hochul for continuing to create these opportunities for affordable and safe housing that allows people to live with dignity and purpose.”

    NYSERDA President and CEO Doreen M. Harris said, “New York State is helping transform the way buildings are constructed by incentivizing the use of the latest energy efficiency and electrification technologies. NYSERDA is proud to support the all-electric Alafia Phase I affordable housing development, which provides a healthy, modern living experience for residents in Brooklyn while also contributing to the state’s equitable transition to a clean energy economy.”

    Empire State Development President, CEO and Commissioner Hope Knight said, “Under Governor Hochul’s leadership, we’re proving that affordable housing developments can be catalysts for comprehensive community transformation. Alafia Phase 1 delivers 576 new homes alongside essential health services and sustainable features — the kind of holistic investment that strengthens neighborhoods and creates lasting opportunity. Empire State Development is proud to support this Vital Brooklyn Initiative project, which addresses long-standing disparities and builds a more equitable future for Central Brooklyn.”

    Senator Kirsten Gillibrand said, “All New Yorkers deserve access to safe and secure housing, but for far too long, affordable housing options have been scarce across much of the city. The Alafia housing development creates much-needed new housing, health care, and supportive services in Brooklyn and will help strengthen the local community. I am proud to support this project, and I will continue pushing to bring federal dollars back home to New York to fund projects like this.”

    House Democratic Leader Hakeem Jeffries said “I am grateful to Governor Kathy Hochul for her commitment to addressing the affordability crisis that continues to ravage New Yorkers, while Donald Trump and House Republicans abdicate their duty to bring costs down. The creation of 576 affordable homes, healthcare facilities and access to healthy food in the Alafia Phase 1 development are a transformational investment in building a thriving East New York. I look forward to the completion of this project and its future stages to ensure more people can afford to remain in the greatest city in the world.”

    State Senator Roxanne J. Persaud said, “The completion of Alafia Phase 1 is a great step forward for East New York and our entire community, delivering much-needed affordable homes, essential health services, and real economic opportunity where it’s needed most. Thank you to Governor Kathy Hochul and the partners who are invested in expanding access to quality housing, supporting community-driven solutions, and investing in the health and wellbeing of our residents.”

    Brooklyn Borough President Antonio Reynoso said, “Alafia is an essential investment for East New York — affordable housing, quality healthcare, and opportunity all in one place. With the completion of phase 1 bringing accessible housing for people with disabilities and green energy to support low and affordable utility costs, Alafia strives to meet the needs of Brooklynites in a meaningful way. I am thankful to Governor Hochul for prioritizing a project that puts families first and to our community partners who build with the community in mind.”

    New York City Councilmember Chris Banks said, “The completion of Alafia Phase 1 is a major victory for East New York and a powerful example of what development should look like when we put a community’s needs first. For decades, this site symbolized isolation and disinvestment — but today, it represents opportunity, health, and affordability for the families who call this neighborhood home. As Council Member for the 42nd District, I am proud to see a project that brings more than 570 affordable homes, a full-service healthcare clinic, supportive housing, and green, sustainable infrastructure directly into a community that has long been overlooked. This is the kind of investment our residents deserve. We deserve housing that is dignified, deeply affordable, environmentally responsible, and built with the understanding that stability and wellness go hand in hand. Alafia reflects our shared commitment to addressing the housing crisis, expanding access to preventative healthcare, and creating a stronger, healthier future for East New York. I look forward to continuing to work with the State, the development team, and — most importantly — our community, to ensure that the next phases of this project deliver the same level of care, innovation, and equity for the people of this district.”

    Services for the UnderServed President and CEO Perry Perlmutter said, “Alafia represents a promise kept to provide New Yorkers not just with housing, but with opportunity, dignity, and a foundation for healthier lives. With the opening of Phase I, hundreds of individuals and families will have a safe, stable home built to the highest sustainability standards, and access to on-site healthcare and community amenities. This is what it means to build for the future.”

    L+M Development Partners CEO Lisa Gomez said, “Today we celebrate the opening of the first phase of Alafia, a unique community that will serve as an example for how affordable homes should be built, with sustainability driving the design from the outset.

    We are proud to see this vision come to life and become a home for those in the community that need it most, with an eye to improving health outcomes and keeping communities together. Thank you to Governor Hochul for her leadership and to our partners for getting this project over the finish line.”

    Apex Building Group CEO Lee Brathwaite said, “Apex Building Group is proud to celebrate the ribbon cutting of Alafia’s first phase, a transformative investment in East New York Brooklyn’s future. We believe that high-quality, affordable housing and vibrant, healthy neighborhoods go hand in hand. Working side by side with all of our partners and community stakeholders, we’ve delivered affordable homes that promote a community of wellness while creating new opportunities for the families who live here today and for generations to come.”

    RiseBoro Community Partnership CEO Kieran Harrington said, “At RiseBoro, we believe that a home is more than four walls — it is access to care, opportunity and community. Alafia embodies that vision. By integrating supportive services, health care, green space and sustainable design, this project offers residents the stability they deserve and creates the conditions for a thriving community. We’re proud to join our partners in bringing this transformative model to uplift East New York’s families today and for generations to come.”

    One Brooklyn Health CEO Sandra Scott, MD said, “This partnership with Alafia exemplifies how health, housing, and economic opportunity can come together to build stronger, healthier communities. It’s a model for how we can reimagine public investment to create lasting change in the lives of New Yorkers.”

    Governor Hochul’s Housing Agenda

    Governor Hochul is dedicated to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives, capital funding, and new protections for renters and homeowners. Building on this commitment, the FY26 Enacted Budget includes more than $1.5 billion in new State funding for housing, a Housing Access Voucher pilot program, and new policies to improve affordability for tenants and homebuyers. These measures complement the Governor’s five-year, $25 billion Housing Plan, included in the FY23 Enacted Budget, to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. Nearly 70,000 have been created or preserved to date.

    The FY25 and FY26 Enacted Budgets also strengthened the Governor’s Pro-Housing Community Program — which allows certified localities exclusive access to up to $750 million in discretionary State funding. Currently, more than 380 communities have received Pro-Housing certification, including New York City.

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  • Planning Advances Redevelopment of Public Land in the Marine Park and Charlestown Navy Yard

    Planning Advances Redevelopment of Public Land in the Marine Park and Charlestown Navy Yard

    The Planning Department this month recommended approval of real estate actions to advance the redevelopment of Parcel M in the Raymond L. Flynn Marine Park and Pier 5 in the Charlestown Navy Yard, and recommended an extension of the Office to Residential Conversion Program to the BPDA Board. Staff also recommended approval of nine new development projects representing approximately 321,688 square feet (SF). All were approved. The newly approved development proposals will create 278 new homes, including 170 units that are designated income-restricted, and will support approximately 296 construction jobs and 159 permanent jobs. The projects advanced today will help make Boston a more resilient, affordable, and equitable city.

    Office to Residential Conversion Program extended

    The Planning Department recommended and received approval to extend the Office to Residential Conversion Program. The program, which formally launched in October of 2023, has received 22 applications to convert 1.2 million square feet of office space across 27 buildings into 1,517 new homes, including 284 income-restricted units, far exceeding initial city goals. Four projects totaling 236 units are currently under construction, and one of the first buildings to apply for the program at 281 Franklin Street has already fully tenanted its 15 units. A total of 251 units are either under construction or completed. Applicants during this extended period must commit to pulling a full building permit and starting construction by December 31, 2027 to benefit from the program. 

    Real Estate

    Planning advances redevelopment of Parcel M on the South Boston Waterfront 

    The Board awarded tentative designation to Marcus Partners for the redevelopment of Parcel M in the Raymond L. Flynn Marine Park (RLFMP) at 3 Dolphin Way. Marcus Partners is proposing a new advanced marine manufacturing and research and development facility to support the development, integration, and testing of marine technologies. The project would also install a new floating dock at the East Jetty. The proposal is estimated to create hundreds of temporary construction jobs and new permanent ‘blue tech’ research and development jobs. Like all publicly-owned parcels in the RLFMP, the selected development team will be required to meet Diversity, Equity, and Inclusion evaluation criterion, including Minority and Women-Owned Business Enterprise (M/WBEs) in all aspects of their development process.

    Planning advances redevelopment of Pier 5 in Charlestown

    The Board awarded tentative designation to Courageous Sailing to redevelop Pier 5 in the Charlestown Navy Yard. Staff issued the original RFP for this site in September 2024 focusing on creating public open space and enhancing waterfront access and education. Because of the significant deterioration of the current pier, the RFP also included up to $8 million in public funding for the pier’s rehabilitation or demolition. The requirements of the RFP were based on extensive feedback from the community over the last several years. The Courageous Sailing team, which currently operates out of nearby Pier 4, is proposing to demolish the current pier and build a new building and public open space including: a roof terrace, harbor pool and floating dock, an ecological learning lagoon, and a public venue. The new building on site would include classrooms, office space, concessions, and other public amenities, increasing year-round public access to the waterfront. The team will continue to refine their proposal with Planning Department staff over the next year.

    Planning staff advance an Invitation For Bids (IFB) to extend Harborwalk in Charlestown

    The Board accepted a $500,000 grant from the state Department of Conservation and Recreation’s MassTrails program and approved an IFB to advance the construction of the Little Mystic Channel Harborwalk Extension in Charlestown. This project will complete a missing section of the Boston Harborwalk, providing connectivity, supporting pedestrian safety, and allowing equitable access to the waterfront. 

    Development Projects

    15 Supertest Street grocery store and housing project, and Hood Park PDA amendment move forward 

    Housing: 32 residential units, 26 income-restricted units

    Jobs: Approximately 52 construction jobs, approximately 34 permanent jobs

    Community: New local grocery store

    Sustainability: LEED Gold, all-electric building

    Located in Charlestown, the project at 15 Supertest Street will build a new grocery store with 32 homes above it. Of those units, 26 will be income-restricted. The income-restricted units are being delivered early as part of the income-restricted unit requirement from the proposed 25 Supertest Street hotel and residential project. A grocery store and affordable housing were identified as key community needs in PLAN: Charlestown. The project will also contribute new landscaping, public realm improvements, $18,595 to the Boston Transportation Department in support of the bikeshare system, and more than $102,000 in mitigation funding. 

    4259-4267 Washington Street project will create new senior housing in Roslindale and incorporate hallmark features of Squares + Streets zoning

    Housing: 41 housing units for seniors, all income-restricted

    Jobs: Approximately 38 construction jobs

    Community: Home for the Thrift Shop of Boston in Roslindale Square

    Sustainability: NZC compliant, Passive House-Certified, close proximity to public transportation

    This project will transform a prior bank parking lot into a six-story building with ground-floor retail and housing above. Located in the heart of Roslindale Square, the building will create 41 homes for seniors and older adults (age 55+), all of which will be income-restricted at or below 60 percent AMI. Residents will have access to a multi-purpose room, a fitness center, bike storage, management offices, shared laundry, a roof deck, and resident services. A transit-oriented development, the project is located near a number of MBTA bus routes and the Roslindale Village Commuter Rail. The project will also include an outdoor courtyard and improvements to the public realm along Washington Street such as widening the sidewalks, protecting three existing trees, and planting at least two additional trees. 

    This project is fully zoning compliant and is the first project to be approved in Roslindale Square since the area was rezoned with Squares + Streets zoning districts. The project incorporates the vision of Squares + Streets with active ground floor uses, new homes near transit and small businesses, and community spaces including a courtyard and roof deck. 

    Senior housing project at 151 Lenox Street moves forward in Roxbury

    Housing: 38 units of income-restricted, senior housing 

    Jobs: Approximately 30 construction jobs

    Community: Ground floor community room, resident services, programming for seniors, close proximity to neighborhood resources

    Sustainability: NZC compliant, fully electric building, Passive House

    Located in Roxbury, this transit-oriented development will turn a vacant publicly-owned lot into 38 units of income-restricted senior housing. The project also plans to partner with local organizations to deliver health, wellness, education, and cultural programs to residents. Public realm improvements will include reconstructing sidewalks and planting new street trees. 

    Majority income-restricted housing project moves forward at 294 Hyde Park Avenue in Jamaica Plain

    Housing: 48 residential units, 43 income-restricted units

    Jobs: Approximately 44 construction jobs

    Community: Public realm improvements

    Sustainability: All-electric, NZC compliant

    Located in Jamaica Plain, this project will create 48 new homes, 43 of which will be income-restricted. These will be a mix of studios, one-, two-, and three- bedroom units. The building will also include bike parking and recreational space for tenants. The project will also improve the public realm by widening the sidewalks on site and adding or preserving trees. The building will be all-electric and Net Zero Carbon compliant, contributing to the City’s sustainability goals.

    1 Longfellow Place project to convert offices to housing

    Housing: 24 housing units, five income-restricted

    Jobs: Approximately 11 construction jobs

    Community: New residents living Downtown

    Sustainability: Adaptive re-use and preservation of existing building

    This project will renovate two floors of office space into 24 new homes Downtown, including five income-restricted units. The two-tower, 38-story building is already primarily residential. This project is one of 22 applicants to Mayor Wu’s successful Office-to-Residential Conversion Program, which is on track to create more than 1,500 units from the conversion of 27 vacant office buildings. 

    Project at 1 & 10 Emerson Place to bring new homes Downtown

    Housing: 33 housing units, six income-restricted 

    Jobs: Approximately 18 construction jobs 

    Community: New residents living Downtown

    Sustainability: Adaptive re-use and preservation of existing building

    This project will renovate office space into housing in two buildings that are already primarily residential. The renovation will deliver 33 new homes Downtown, six of which will be income-restricted. This project is one of 22 applicants to Mayor Wu’s successful Office-to-Residential Conversion Program, which is on track to create more than 1,500 units from the conversion of 27 vacant office buildings.  

    Project at 1028-1032 Dorchester Avenue to bring new housing to Dorchester

    Housing: 22 residential units, four income-restricted units

    Jobs: Local business to tenant ground floor

    Community: Public realm improvements, bike parking, close proximity to public transportation

    Sustainability: Solar-ready roof

    Located in Savin Hill, this project will build a new four-story building with 22 residential units, four of which will be income-restricted. These will be a mix of studios, one-, two-, and three-bedroom units. The project is a transit-oriented development, will include bike parking on site, and will contribute $8,008 to the Boston Transportation Department in support of the bikeshare system. 

    110 Wales Street will bring new homeownership opportunities to Mattapan

    Housing: 40 homeownership units, seven income-restricted units

    Jobs: Approximately 41 construction jobs

    Community: Public realm improvements

    Sustainability: Passive House, all-electric, solar panels, EV charging stations, green roof and rain garden

    This project will build a new five-story building with 40 homes, seven of which will be income-restricted. This project will contribute $11,000 to the Boston Transportation Department in support of the bikeshare system, and will improve the public realm by widening the sidewalks on site and adding or preserving trees.

    New office and assembly space move forward at 100 Magazine Street in Newmarket

    Jobs: New office and assembly space

    Community: Public realm improvements

    Sustainability: Increased tree canopy, new EV parking

    This project will renovate a vacant warehouse and existing office space into new offices. This project falls within the PLAN: Newmarket study area which encourages the preservation and growth of industrial jobs. Exterior improvements will be made to the existing building, including a new roof, facade and window renovations. Nearly 50 trees and pollinator planting beds will be placed across the site to help minimize the urban heat island effect. Other pedestrian-focused improvements include widening sidewalks and narrowing the driveway curb cuts on site. The project will also contribute $10,285 to the Boston Transportation Department to support the bikeshare system.

    In addition to these projects, the board approved:

    • An update to a previously approved project at Allston Square to reduce the amount of parking on site.
    • An update to a previously approved project at 257 Washington Street to increase the number of income-restricted and family-sized units on site.
    • A change of use at 4 Alger Street from industrial to exercise and entertainment.
    • An Invitation for Bid (IFB) to realign Fid Kennedy Avenue in the RLFMP.
    • A Demonstration Project Plan for 11 Ashmont Park to facilitate the property being acquired and redeveloped for use by the Boston Fire Department.

    ###

    About the Planning Department

    The City of Boston’s Planning Department shapes growth that serves Boston’s residents and centers their needs. Our mission is to address our City’s greatest challenges: resilience, affordability, and equity, and to take real estate actions and prioritize planning, development, and urban design solutions that further these priorities. We seek to build trust with communities through transparent processes that embrace predictable growth and shape a more inclusive city for all. Learn more at bostonplans.org, and follow us on Twitter and Instagram @BostonPlans.

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    The BLS is committed to providing data promptly and according to established schedules. Automated retrieval programs (commonly called “robots” or “bots”) can cause delays and interfere with other customers’ timely access to information. Therefore, bot activity that doesn’t conform to BLS usage policy is prohibited.

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  • Join the Ride revolution – new one-stop travel app for Nottingham and Derby

    A first-of-its-kind mobile app has been launched across Nottingham and Derby – bringing together a host of integrated transport information and ticketing options in one handy place.

    Ride makes it simple and easy to get around and between both cities. One app bringing together buses, trams, trains, walking, cycling and shared transport services, including car club, rental e-scooters and e-bikes.

    It can be downloaded now from the Play Store for Android devices and App Store for iOS.

    The £4m project was developed through a partnership between Nottingham and Derby city councils and funded by the Government’s Future Transport Zones (FTZ) programme. This provides grants specifically for trialling new and innovative transport technologies and mobility services.

    Users can:

    • Plan a journey, book and pay for all local transport options – people can use Ride to buy tickets for every operator in one convenient place without the need for multiple apps and accounts on their phone
    • Track a bus in real-time – see buses from all operators live on an interactive map
    • Personalise choices around walking distances, preferred modes of transport and regularly-used operators
    • See the range of car club vehicles, locations and make bookings in advance
    • See the location and battery levels of e-bikes and e-scooters before hiring (Nottingham only)

    Ride can also map out journeys door-to-door across different providers making opting for sustainable travel options even easier, accessible and convenient – further supporting efforts in both cities to cut carbon emissions.

    The app will evolve with new features, accessibility enhancements and more transport operators over time. Along with other public transport responsibilities, operation of Ride will transfer to the East Midlands Combined County Authority (EMCCA) from early 2026.

    FTZs are government-funded projects in the UK aimed at testing and trialling exciting new transport technologies, modes and services, with the goal of creating more efficient, sustainable, active and carbon-friendly transport systems. 

    Councillor Linda Woodings, Executive Member for Regional Development, Growth and Transport at Nottingham City Council, said:

    We’re really excited about Ride and it shows the strength of partnership that exists between the two councils and all the local transport operators that we have been able to make this happen.

    Ride is one of the first of its kind in the country. Being able to track buses in real time is transformative in terms of knowing that your bus is on its way and where it is on its journey.

    I’d encourage everyone to download Ride from their app store and spend some time over the coming weeks trying it out using the different forms of transport that are available around the two cities. We’re confident that passengers will really value having everything they need in one handy place.

    The whole purpose of the Future Transport Zones funding from Government is for areas to develop, test and introduce a range of exciting and innovative projects designed to encourage more use of sustainable transport.

    Councillor Carmel Swan, Cabinet Member for Climate Change, Transport and Sustainability at Derby City Council, said:

    Over the past few years we have dedicated a lot of time and resource to making it as easy as possible for residents and visitors to travel around the city.

    Ride brings all of this work together, making navigating around Derby and Nottingham as seamless as possible, as well as supporting users to make sustainable transport choices.

    We’re very excited to officially launch Ride and hear what users think of the app over the coming months.

    Claire Ward, Mayor of the East Midlands, said:

    Ride supports the growth of our region by making it easier and more efficient to travel around. The use of cutting-edge technology to integrate different forms of transport is another example of the East Midlands leading the way.

    I hope that Ride proves popular with passengers as I’m keen to see how this scheme could be expanded further across the region.

    More information is available at the new Ride website, here.

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