For nearly 20 years, Jan Breed has led the MBC, which since 1921 has represented every trade and profession in commercial real estate. During her tenure, big public works projects have opened new markets, especially downtown. Consider the Big Dig creating new roads, bridges, tunnels, and mass transit routes threading through the Financial District, North Station, and Seaport. At the same time, demolition of the old elevated highways uncovered priceless open space and water views. Such projects carry risk, but that shouldn't scare us because they also deliver the biggest payoff, she says. It's time to muster the confidence to tackle new transportation projects to become even more competitive.
At the same time, the face of the industry is changing, with big global players becoming more dominant and small local firms fading, Jan says. Building projects are increasingly complex, like the 1.1M SF Vertex HQ under construction at the Seaport (above). The mix of labs, offices, and glazed facades means varied requirements and more complicated, massive mechanical systems. Financing, more available than during the recession, still hasn't rebounded completely. Add to that the uncertainty surrounding the federal government to explain why many development projects are still on hold. Fun fact: Jan was in hospitality for 20 years; her specialty is all things Maui.
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