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Blog :: 12-2014

Welcome to our blog! As Boston's leader in apartment rentals, we have our finger on the pulse of the local real estate market. Here, you'll find insight and announcements from our team to keep you up to date on everything you need to know about real estate in the Boston area.

Chinatown Rental Project Receives Affordable HousingBond

Low income housing is being offered at this new construction site in Chinatown. The project is due to be finished in the summer of 2015!

From cpexecutive.com:

“A $26.6 million investment, Oxford Ping On broke ground in May. Developed by CEDC Oxford Ping On LLC, an affiliate of the Chinese Economic Development Council, the building will replace a 6,400-square-foot paved parking lot at the intersection of Oxford and Ping On Streets in the Boston Empowerment Zone…Rising ten stories above ground, Oxford Ping On was designed by Chia-Ming Sze Architect, Inc. and will encompass approximately 60,000 square feet of space. When fully completed in late summer 2015, the asset will have 67 low-income rental units consisting of 48 studios, 16 one-bedroom units, and three two-bedroom apartments, with one one-bedroom unit set aside for the property manager.”

Boston Faneuil Hall goes NYC

So with the makeover of Faneuil Hall in the works, who’s better to hire than Daniel A. Biederman, whose New York consulting firm revitalized Bryant Park in Manhattan. Mister Biederman’s role in Bryant Park’s success story mainly pertains to the attention of detail he paid to the sector of public realm within the project. So we can rest assure the same attention will be made to Faneuil Hall, which will make it a visitor controlled area that ironically lends a free spirited synergy throughout the marketplace.

From Curbed:

“One problem now is that the outdoor seating is ‘a little bit uncomfortable and is not ideal to retain families or even pairs of people,’ Mr. Biederman said. In contrast, Bryant Park offers 5,800 movable chairs, giving visitors control over where they sit.”

Fenway Center Shows Life

With recent news of developers’ dual partnership, the long awaited Fenway Center at Brookline and Commonwealth development might actually come to fruition.

The construction of this apartment-and-retail development has been stagnant due to insufficient funds. But all is about to change due to newly conjoined partners taking forces and funding the $550 million dollar complex. Thank you to developers John Rosenthal and Gerding Edlen for teaming up to make this happen.

Stay tuned for further updates.

Leather District Loft has NYC Feel

Boston continues to Manhattanize itself by bringing New York-style lofts to the Leather District.  Recently listed at 134 Beach Street, a particular condo is best described as a large and true “Soho-style” loft. According to Curbed, Boston, the 2-BR, 2.5-BA is asking $490 a square foot. The loft currently sits on the market at $1,395,000.

From Boston Curbed:

134 Beach Street “really does look like the sort of capacious spread you might find in the old cast-iron, Second Empire buildings in lower Manhattan nabes such as Soho and Tribeca (another listing in 134 Beach once described a condo as “Soho-style,” in fact, the first time we’ve ever seen a Boston marketer drill down past the boroughs to the New York neighborhood level). As if to remove any doubt of the 2,836-square-foot loft’s vibe, too, the Engel & Volkers Boston description touts it as a ‘large, true, NY-style loft.'”

Back Bay Chanel No. 6 Redevelopment Underway

We suppose the developer of the garage at 4-6 Newbury Street in Back Bay completely thought out his new idea. Because what kind of experience will Chanel shoppers truly are able to have when they hear a horn honking above their heads because someone reversed out of turn? Well the now garage is being converted, and rightfully so.  The garage is planned to convert into luxury apartments. The future luxury apartments, which were sold as shells, were traded cumulatively at $7,250,000.

Boston Property Development plans to turn the shells into two luxury residential condos. The condos have plans to be listed for sale in 2015. We’re looking forward to viewing the end product of these future gems – home décor junkies; you will be in for quite a treat!

Boston Micro Apartments Earn #2 Designation

The U.S. Rental lists data compiled from HotPads for October 2014 proves Boston to come ever so shy from the top.

Increasing housed demand is aiding these micro units in becoming the favorite alternative for developers because they can acquire additional tenants by leasing extra units.

However, don’t get too excited folks; these micro apartments have macro rents! According to HotPads, Boston’s median micro-apartment rent is $1,600 – similar to studios and 1-BRs.

Easy Breezy Commuting in Boston

Exciting news for Boston residents: the Federal Transit Administration is stepping up and donating a sum of 1 billion to aid in the creation of this commuting ideal. The large chunk of change will go towards the manufacture funding to extend the Green (T) line.

The Green line has plans to run from Lechmere Station in Cambridge into Somerville and Medford.

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Whole Foods Spa Opening in Boston South End

Boston’s Whole Foods plan to bring a new dimension to their health-conscious grocery market within the new year.

Located in South End’s Ink Block, the 50,000 square foot store will unveil their first ever spa in the former site of the Boston Herald.

With easy access to a gym, healthy food and body treatments, healthy living will be the residents of Ink Block’s mantra. Talk about feeling cleansed inside and out!

Poll: Boston's Wicked Smart (or at least, Well-Educated)

A recent poll has been released, and once again, Boston lands on top!

Steering far from anything hotel related, Boston has officially been placed first, and it is all because of you, people!

“Boston comes in first with 1 institution for every 658 people, followed by Seattle with 1 educational establishment for every 785 people. We took into account all educational institutions of all levels.” [Curbed]

Boston is the official winner for housing the most educated citizens in the U.S., and with a sum of 60 schools in metropolitan Boston, one could say Boston had a leg up from the rest.

It comes with no surprise that once coming upon completion of university, students choose to stay and live their post-graduate years in this beautiful city.

So way to go you scholastic Bostonians; and keep studying kids!

Atmark in Cambridge is Leasing

Vacancy is minimal and pre-leasing is off the charts in metropolitan Boston. Inevitably, being the smartest big city in America has its perks. And Atmark is a true testament of this. News release of their fine art gallery has increased its pre-leasing rate to a soaring 60% (an incredibly high rate for pre-leasing).

“In the Boston-Cambridge-Newton metro area, 44.8 percent of the population has bachelor’s degrees or above, the fourth-highest concentration of brainpower in the nation, up 7.8 percentage points since 2000 on the strength of a 32.2 percent jump in its college-educated population. That places Boston No. 1 on our large cities list.” [Curbed Boston]

Atmark aspires for their residents to feel a sense of community in every spectrum of their building, and what other fabulous way to support our local artists than to exhibit their hard work.

So for all of you art connoisseurs, what a treat!

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