The Week in Review in Belmont: Cushing Village Approved, Belmont Savings Growth

Cushing Village, the $80 million, three-building retail, residential and parking development first officially proposed five- and-a-half years ago, won final special permit approval from the Belmont Planning Board. Construction should begin in the fall with the first building being up and running by late fall/early winter next year.

While were at Cushing Village, its been reported that Starbucks will be staying open as the development is being built around it. 

Detroit's bankruptcy will likely not hurt Belmont's ability to sell its municipal bonds at a low interest rate but actions by the Federal Reverse could.

Belmont single family and condominium sales fell in the first half of the year but most likely as a result of shrinking inventories rather than a weakening market; correspondingly, median prices for single-familes increased by 12 percent over the first six months of 2013.

Belmont Savings Bank continues to show steady growth in assets, loans and deposits; it could soon reach $1 billion in assets as it increasingly becomes a financial player in the area.

Belmont unemployment percentage increased in June to five percent, a jump of .8 of a percent in one month.