Submitted by Johnsonjefferson t3_10iyk19 in boston

They are adding another bank on centre st?? Chase bank going in across from west on centre. There has to be at least 10 banks on the stretch from spring st to the police station. Insanity

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fondledbydolphins t1_j5hlg9j wrote

Lol "they" are adding it.

Who is this mysterious "they" you're referring to?

Banks pay the highest rent of any tenant. If a bank wants to move in to a property a Landlord would be crazy to pass that up.

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johndburger t1_j5jgsn9 wrote

Indeed, the previous tenant, a gas station, wanted to stay, but the land owner wouldn’t extend their lease.

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giritrobbins t1_j5jlej4 wrote

And didn't they float the idea of housing there but the locals said no. Or am I thinking of a different parcel

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man2010 t1_j5hltef wrote

Banks have been reducing branches for over a decade now, and this trend is stronger in major metro areas and was accelerated by the pandemic. I don't think the opening of this specific new branch is a sign of insanity when the overall trend is the opposite

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Otterfan t1_j5ic4wx wrote

In rich neighborhoods like mine (Coolidge Corner) it still feels like banks are taking over. While branches are closing at an increasing pace across the state and country, they are retreating into neighborhoods like this one.

In 15 years there won't be any bank branches left, but that's a long time to wait.

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man2010 t1_j5icluv wrote

Have bank branches actually been opening more in Coolidge Corner or does it just feel that way? Because feelings aren't always the reality, and I don't feel like they're taking over Coolidge Corner at all.

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GordonMaple t1_j5k57bs wrote

I think context matters here. Centre St. has been plagued by banks for decades. If a new business is opening on Centre St., odds have always been high that it's another god damn bank. It's pretty disappointing for the residents and imo a waste of space in the town's main thoroughfare.

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man2010 t1_j5k63d1 wrote

This gets said about every neighborhood. In another response someone claimed Coolidge Corner is getting taken over by banks, it's constantly said about Harvard Square, and last time I made this same comment someone insisted the same about Central Square. I get that bank branches aren't desirable compared to other neighborhood businesses, but I don't think they're the plague that they get made out to be, nor do I think Centre St., Coolidge Corner, Central Sq., Harvard Sq., etc. are exceptions.

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tjrileywisc t1_j5hi1xl wrote

Your city may have stupid zoning policies that raise the cost of development such that only a bank could be placed there because they can afford it.

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Johnsonjefferson OP t1_j5hjhca wrote

I dont know anything about that but that could very well be the reason

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Catticus42 t1_j5q2fm5 wrote

The bank owns this parcel of land and opted to not renew the gas station’s lease. They can afford because they own it, there is no landlord.

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tjrileywisc t1_j5qb14n wrote

Sounds like an improvement from the gas station at least.

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Dharkcyd3 t1_j5han6w wrote

And my bank isn't even represented. Not even an ATM in CVS.

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biddily t1_j5i56fb wrote

They closed the BoA on gallivan blvd, and now im like, god damn it - I don't want to drive to either fields corner or quincy.

ARGGGGG.

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ButterAndPaint t1_j5jehuh wrote

Honest question. Why are you a BoA customer? I've never heard anyone say anything positive about them.

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biddily t1_j5kmlpl wrote

international banking. They're parent company also owns banks around the world - so it makes doing banking at their sister banks a little easier when travelling. No international transaction fees when taking cash out at ATMs of sister bank atms abroad.

ive never had a problem with them and ive been with them for 15 years.

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PMSfishy t1_j5hyz8i wrote

Cool, will fit in well with all the insurance companies in the area.

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geffe71 t1_j5jgr41 wrote

Come to my town, we have every bank within a golf ball drive

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bph12 t1_j5jr9ad wrote

To be fair, they closed the Chase ATM next to the hardware store, so they not only added a new bank, but left another empty store front.

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Chappy_Sinclair_ t1_j5hcudx wrote

Better too many than too few. One can easily build a career at a branch.

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