J
oseph, owner of RE/MAX Executive Realty in Hopkinton, represented the town at the Economic Development Advisory Board meeting on Tuesday, stepping in for Chamber member Nick Slottje. He opened with a brief history of Hopkinton’s commercial sector and an assessment of its residential supply. “We’re essentially built out unless we change density and zoning,” he said, noting that high tax rates are eroding home values and that the town needs more workforce housing. He described the current market as the slowest he has seen, with people stuck in place due to economic uncertainty, low mortgage rates, and a lack of options.
When asked about commercial trends, Finley Perry asked how the town could increase property value and attract new businesses. Joseph replied that the key lies in the 495 corridor: “Small businesses thrive near 495.” He also suggested that shared‑space manufacturing hubs, especially on South Street, could be a viable strategy. He cited Paul Mastroianni’s recent “industrial condos” on South Street, which sold out before completion.
Julia Chun, the town’s sustainability, economic development and equity project manager, agreed, saying that flexible manufacturing space is the town’s strongest asset right now and that office space is near capacity.
The board also discussed qualifications for a new economic‑development officer funded by the town’s meal tax, which has raised $200,000 since January. Joseph emphasized that the officer must be deeply connected to the commercial market. Chun added that the role should bring a real‑estate expert who can fill a gap in the team’s current capabilities.
Parker Happ highlighted institutional and political barriers that slow the town’s ability to seize fiscally advantageous commercial opportunities. Joseph agreed, noting that the biggest obstacle is the political system itself.
The meeting concluded with a consensus that addressing zoning, leveraging the 495 corridor, and recruiting a real‑estate‑savvy development officer are critical steps for Hopkinton’s economic growth.
