Issue link: https://nebusinessmedia.uberflip.com/i/857794
wbjournal.com | August 7, 2017 | Worcester Business Journal 5 844.474.3385 15 Midstate Drive Suite 210 | Auburn MA 01501 completepayrollsolutions.com HR. Benefits. Payroll. Compliance. In Massachusetts: Auburn, Springfield, Boston, Attleboro, South Hadley and Chatham In Connecticut: Middletown and Brookfield ...with best-in-class Human Capital Management HCM and local experts to help guide you. Unleash your Workforce to do great work... B R I E F S Rising housing price a positive sign In June, the median sale price of a single-family home hit $276,000 in Worcester County and $395,000 statewide, continuing their upward trend. While the price of real estate is a sign of strong demand, rising costs can price people out of the market and/or leave them with less disposable income. When polled online, WBJ readers said rising housing prices were a positive sign for the region's economy. F L A S H P O L L Queen's Cups opens in Canal District The Queen's Cups bakery has offi- cially closed its Millbury store and opened in Worcester's Canal District. The new bakery, in the former Bucky's building in the Canal District, is 3,200 square feet -- much larger than the 750 square foot Millbury store. HomeGoods, T.J. Maxx to switch plazas in Milford HomeGoods and T.J. Maxx are switching plazas in Milford, leaving the Quarry Square Shopping Center in favor of the new Milford Crossing just over a mile away. The two stores, totaling about 47,000 square feet, will open this fall. The two retailers, which are owned by TJX, will join Stop & Shop, Starbucks and Chipotle Mexican Grill at Milford Crossing. Stop & Shop is slated to open in November, and the other two in the first quarter. Stop & Shop is also moving from Quarry Square Shopping Center. Milford Crossing is being remade by New York City developer RD Management in a $20-million project after Kmart, Bugaboo Creek and World Gym all left over a short period of time. Continued on next page The only AAA Four Diamond-rated Hotel in the region Voted Best Hotel for Business Clients and Best Venue for a Business Meeting, Worcester Business Journal Best of Business Award Voted Best Hotel, Telegram and Gazette Best of Central Mass Award 363 Plantation Street, Worcester, MA 01605 Phone: 508.754.5789 | BEECHWOODHOTEL.COM THE SMALL LUXURY HOTEL LOVED BY THE BIG NAMES IN BUSINESS. Are rising home prices good for your business? Yes. Rising property values means people are putting a greater value on Central Massachusetts. 40% Yes. Higher demand means more money is put into our economy and businesses like ours. 27% COMMENTS: "High tide lifts all boats -- it's always better with a growing economy. I wish the city council would understand this." "One of my pet peeves about the WBJ is the belief that high real estate prices are good, when in fact they are the worst possible thing that could happen. Lower prices raise the standard of living, high prices lower the standard of living. This is not a new idea. Adam Smith wrote: 'Nations go to ruin fastest where the rate of profit is highest.'" "All boats rise and fall with the tide. With Boston beyond reach, Central Massachusetts has the character and economy to grow." Renee King, owner and founder, Queen's Cups 13% No. Our business cannot afford to pay more to lure talented workers to such a high- expense region. No. This bubble will burst and lead us back into a recession. 20%