Panos Named A ‘Super Lawyer’ by Boston Magazine

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Photo: Laura Panos

The Law Office of Laura A. Panos is proud to announce that its founder, Laura Panos, has been named one of Boston Magazine’s “Super Lawyers,” a designation given to outstanding attorneys.

“I am honored this year to be selected to join such a distinguished circle of peers,” said Panos who has been practicing law for more than 25 years and serving the Belmont community for more than a decade. 

Her office is located at 50 Leonard St. in Belmont Center.

Panos was also named one of 50 Top Women of Law in Massachusetts for 2014 by Massachusetts Lawyers’ Weekly.

Panos provides employment counseling to businesses and individuals at every level, including representation of a large number of locally owned businesses. The spectrum of services includes terminations, severance, leaves of absence, policy drafting and presentations and trainings on a wide range of employment topics. Individualized counseling specific to industry and position are a unique strength.

“We strive to provide practical, creative, employment solutions specific to our client’s needs. We make it a priority to serve as both client advisor and strategic counselor to optimize opportunities and mitigate risk,” she said.

Belmont Savings’ ‘Turkey Brigade’ Made Deposits at Local Branches

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Photo: (from left) Belmont Savings’ Hal Tovin, COO; Sam Murphy, executive customer support; Katie Conachy, branch manager; and Bob Mahoney, president and CEO.

On Tuesday, Nov. 22, Belmont Savings Bank President and CEO Bob Mahoney under the guise of Plymouth Pilgrim took his annual Thanksgiving tour of the bank’s branches in Belmont, Waltham, Watertown, Cambridge and Newton as he and his “Turkey Brigade” delivered turkeys to employees for the holiday.

The turkeys were fresh from Bob’s Turkey Farm in Lancaster, Mass. Turkeys that colleagues opted to donate went to the Waltham YMCA.

Sold in Belmont: Double the Size, Double the Price

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Photo: Bulking up on Cedar.

A weekly recap of residential properties sold in the past seven days in the “Town of Homes.”

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• 222 Prospect St., Brick/frame modified Colonial (1936). Sold: $1,210,000. Listed at $1,100,000. Living area: 2,914 sq.-ft. 9 rooms, 4 bedrooms, 2.5 baths. On the market: 61 days.

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• 96 Winter St., Ranch/Cape (1950). Sold: $700,000. Listed at $789,900. Living area: 1,885 sq.-ft. 6 rooms, 3 bedrooms, 2 baths. On the market: 160 days.

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• 64 Channing Rd., Second-floor condo (1952). Sold: $450,000. Listed at $459,000. Living area: 952 sq.-ft. 5 rooms, 2 bedrooms, 1 baths. On the market: 68 days.

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• 69 Cedar Rd., Renovated Colonl (1920). Sold: $1,880,000. Listed at $2,100,000. Living area: 4,588 sq.-ft. 8 rooms, 5 bedrooms, 5.5 baths. On the market: 109 days.

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• 90 Wellesley Rd., Split-level ranch (1963). Sold: $1,400,000. Listed at $1,289,000. Living area: 4,149 sq.-ft. 8 rooms, 5 bedrooms, 5.5 baths. On the market: 74 days.

• • • 

One year ago this month, the near-century-old house on Cedar Road just off Goden – midway between the Chenery and the Wellington schools – caught the attention of a friendly developer who bought the structure with an idea of building big.

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But rather than knocking the current structure down and constructing some monster truck version of a residential house on the site, the team had another option on hand: an ample backyard. With a lot size of 9,000 sq.-ft. – as opposed to the 7,000 sq.-ft. the developer of 185 Dalton Rd. (that hideous blue whale of a house) was able to use – the developer was able to expand outward into a lawn. In fact, the addition cobbled onto the rear of the original house at 2,500 sq.-ft. is a bit more than your average Belmont colonial.

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Let’s look at the tale of the tape:

House sq.-ft.:

  • 2015: 2,024
  • 2016: 4,588

Total Rooms/Bed/Bath:

  • 2015: 8/4/1.5
  • 2016: 11/5/5.5

Assessed value/Final sale price

  • 2015: $869,000/$891,000
  • 2016: N/A/$1,880,000

The end result, within a year’s time, the sales price for the newly-renovated house doubled.

So you can commend the developer’s effort to use the existing facade/frame to keep the house in the same scale from at least the street as its neighbors while providing wealthy buyers all the unnecessary space and soon-to-be-empty rooms they demand. Unless you have half a dozen kids, why do you need 4,500 sq.-ft? 

Breaking: Ohlin’s Bakery Leaving Cushing Square, Seeking Help to Find New Home

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Photo: The Klemm family – Paul Jr., Paul, Marybeth, and Emily – who own and run Ohlin’s Bakery in Cushing Square.

After 101 years in Belmont, the legendary Ohlin’s Bakery at 456 Common St. is leaving its longtime home in Cushing Square for good, according to a Facebook message from its owners.

Saying they are “extremely shocked and disappointed,” owners Paul and Marybeth Klemm said despite “trying our hardest to reopen in our original location” … “[w]e were told by our landlord that this is no longer possible.”

In the message written on the store’s social media site Thursday, Nov. 10, the couple who live in Burlington said the decision “has been very depressing and we feel so lost and sad.”

Comments to the news from fans of the store and friends of the Kleems are supportive of the business which celebrated its centennial in 2015.

“This is oh so devastating for your family and all of your loyal customers,” wrote Andrea Taylor. “We will always support you!!”

The bakery, which was recognized yearly for having Boston’s best donuts, has been closed since an early morning explosion on March 15 heavily damaged the bakery section of the store.

Despite working with the landlord and insurance representatives, the cost of repairing the building and modernizing the aging equipment and ovens to bring them up to current building and fire codes was prohibitive. Even a GoFundMe page set up by a long-time friend of the business to raise $50,000 could not close the gap.

The Kleems are now appealing to customers and friends to help the couple find a new location close to the original site. So far they have looked at many places in Belmont, Watertown, Cambridge, and Arlington with the hope of securing a storefront with ample parking “and REASONABLE and AFFORDABLE RENT!”

So far, fans are requesting the store open shop in Waltham and Arlington. But mostly, customers such as Maggie Schulz told the Kleems that “[a]nywhere you go, my family will be there!”

Sporting Moves: Belmont Savings Assists Press Box, Boosters ‘B’ Drives

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Photo: What a new press box will look like in the fall of 2017.

In less than a week, Belmont’s most prominent business has scored big with the town’s high school athletic program.

On Monday, Nov. 7, the Belmont Savings Bank Foundation announced a $15,000 donation to complete the fundraising effort to build a new, state-of-the-art press box at Belmont High School’s Harris Field.

A week earlier, the foundation made a $7,500 matching donation that supported the annual fundraising effort of the Belmont Boosters, which this year yielded nearly $19,000.

“The Belmont Savings Bank Foundation’s matching gift is critical to the success of the Booster “B” Drive not only because of its significance in terms of sheer dollars, but also because it’s a major rallying point for the BHS parents and student-athletes who make it all happen,” said Booster’s President Larry Christofori.

Completing the Press Box

After nearly a decade during which the designated press area has been officially closed, it is now expected a rebuilt press box will be up and running by the opening of the 2017 fall and football season.

“We are more than happy to help make the press box for Belmont High School and its student athletes a reality.” said Hal Tovin, executive vice president and COO of Belmont Savings Bank and director of the Foundation.

“It will be a wonderful addition to Harris Field as well as the town of Belmont itself,” he said.

In 2002, Harris Field was rebuilt with an all-weather turf and track, seating and lighting. Initially, a press box was included in plans before funding fell short. Last year, a group of residents and Belmont High School athletic boosters created a Harris Field Building Committee with the goal of raising $240,000 to make the press box project a reality,

Belmont’s Town Meeting approved $165,000 for the project, leaving $75,000 to be raised by private sources. With the help of private organizations, individual donors, and groups that support Belmont sports teams, the town was able to raise much of those private funds with Belmont Savings put the program over the top with the last $15,000 donation.

With the addition of the press box, both the school and the community will procure multiple benefits as students will see improved game coaching and film capabilities for instruction between games and employees and volunteers who staff events at Harris Field will have a more comfortable experience.

Boosters find the funds

While the press box will be used by coaches and the media, the money raised each year by the parents run Belmont Boosters provides revenue for items unfunded by the Belmont High School Athletic Department budget through individual grant requests, the purchase of varsity letterman’s jackets and investing in capital equipment and facilities.

Previously the Boosters funded the renovation of the White Field House and the school’s Fitness Center and the laying of a new floor/court at the Wenner Field House.

In late October, the student-athletes were divided into teams and followed a route in Belmont to solicit contributions through door-to-door engagement with the community. In exchange for a donation of $20, supporters received a Belmont “B” which can be displayed in a window in support of the school athletic program.

“We are more than happy to match the efforts of our student-athletes, who work so hard alongside the Booster parent volunteers to ensure their programs are properly funded,” said Tovin.

The mission of the Belmont Savings Bank Foundation is to provide financial support to organizations in the communities served by Belmont Savings Bank, particularly those committed towards education, health and human services, youth programs, and affordable housing.

 

 

Belmont Savings Tops $2B in Total Assets with Record Earnings

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Photo: Belmont Savings Bank.

It’s been a busy and fruitful 2016 for Belmont’s most prominent business.

BSB Bancorp, Inc., the holding company for Belmont Savings Bank, the state-chartered savings bank headquartered in Belmont, reported last week a jump in net income – the difference between revenues generated by interest-bearing assets and the cost of servicing liabilities – of $3.2 million for the quarter ended Sept. 30, 2016.

When compared to net income of $1.9 million for the quarter ended Sept. 30, 2015, the bank saw the quarter-to-quarter increase in net income of a whopping 70 percent. 

This marks the Bank’s 13th consecutive quarter – more than three years – of earnings growth. For the nine months ended Sept. 30, 2016, the bank reported net income of $8.7 million compared to net income of $4.8 million for the nine months ended Sept. 30, 2015, or an increase in net income of 79 percent.

As of Sept. 30, 2016, total assets were $2.07 billion, an increase of $260.8 million or 14.4 percent from $1.8 billion at Dec. 31, 2015. The asset growth was primarily funded by growth in deposits and federal home loan bank advances.

The bulk of the bank’s growth came from healthy net loan growth of $251.4 million or 16.4 percent since the beginning of 2016.

“Strong loan growth pushed us past the $2 billion total asset mark this quarter. Good expense control and sound risk management were the foundations for our 13th consecutive quarter of earnings growth,” said Bob Mahoney, the bank’s president and CEO.

The jump in loan activity can be seen throughout all real estate lending groups as residential 1-4 family real estate loans, construction loans, commercial real estate loans, home equity lines of credit and commercial loans increased by $238.2 million, $16 million, $13.2 million, $10.8 million and $8.1 million, respectively.

Penultimate Market Day of Season Today, Thursday

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Photo: Market Day in Belmont

It’s your next to last chance to shop at Belmont’s freshest market as the penultimate Farmers Market Day of the 2016 season takes places this afternoon, Thursday, from 2 p.m. to 6 p.m.

And his mid-fall market includes pumpkins that can be used for pie filling, seeds or Jack-o-lanterns, gourds, potatoes and loads of apples.

Occasional vendors Chrissy’s Crumble, Turtle Creek Winery, Underwood Greenhouses, Valicenti Organico, and Warren Farm and Sugarhouse will be at the market today.

Schedule of Events
2 p.m.: Tasting by The Vintage Tea and Cake Company
4 p.m.: Storytime with the staff of the Belmont Public Library
4:30 p.m.: Music by The Hoot Owls

The market is located in the rear parking lot behind Belmont Center on Claflin Street.

Breaking: Cushing Village Project Is A Go with Toll Brothers’ Purchase of Parking Lot by Toll

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Photo: Coming attractions

Finally.

Earlier today, Wednesday, Oct. 19, developer Toll Brothers officially took possession of the municipal parking lot in Cushing Square after purchasing the parcel for $1.335 million from the town, according to Town Administrator David Kale.

Kale said the multi-use project will begin the construction phase with the closure of the lot in the next few days. 

Before Wednesday’s Special Town Meeting, Board of Selectmen Chair Mark Paolillo made the closing announcement.

“It’s finally over,” said Paolillo. 

Kale said Toll Brothers will also be putting forth a press release that will detail the construction of the 167,000 square foot, three building project in the heart of Cushing Square. 

Cushing Villiage is a three building development that will include approximately 38,000 square feet of commercial space, 115 dwellings units – 60 two-bedroom units and 55 one-bedroom unit – and 225 parking spaces including 50 municipal spaces.

Banking on Children’s Book For the Benton Library at Belmont Savings

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Photo: Benton Library.

Belmont Savings Bank has announced it is holding a Children’s Book Drive to benefit Benton Library. Residents can bring in any old or unused children’s books to the bank’s main Belmont branch before Oct. 31, and the books will be donated to the Benton Library.

Residents can bring in any old or unused children’s books to the bank’s main Belmont branch before Oct. 31, and the books will be donated to the Benton Library.

The Benton Library, at the corner of Oakley and Old Middlesex is a nonprofit, independent community library in Belmont run by volunteers and supported entirely by staff donations. The historic site was designed in 1892 as a chapel for the Belmont School For Boys, and was eventually purchased by Everett C. Benton in 1903 who made the chapel available for Belmont public meetings. After his death, his family offered the chapel to the town to use as a library. 

Belmont Savings Bank is located at 2 Leonard St. in Belmont Center. It will be accepting book donations during normal hours of operation.