Boston Real Estate 2016: A View from the Top
January 25, 2016
January 25, 2016
It has been nearly a decade since the 2008 market crash that left the majority of the U.S. real estate markets reeling, but to no surprise, Boston has emerged as one of the hottest markets in the U.S., playing host several neighborhoods that are among the top-10 hottest in the nation for home buying, according to a recent Boston Globe article.
Here are some of the most anticipated residential real estate projects currently under construction in Boston.
Once completed, this 60 story, 685 ft. luxury residential skyscraper will be the third tallest building in Boston (according to Wikipedia). Developed by Millennium Partners, the project will feature 442 residences, and office space. Additionally, the property site is also home to a Roche Bros. grocery, which opened last year. The development is currently under construction with residential occupancy scheduled for summer of 2016.
Occupying approximately 183,000 square feet and stretching 178 vertical feet across 17 floors, 1350 Boylston Street is expected to offer 212 luxury apartments, as well as 7,008 square feet of ground-floor retail space. Lead developer Skanska USA held an official groundbreaking for the project last month, which kicked off construction at the site.
Planned to feature 274 apartments and 16,000 square feet of ground-floor retail space, once completed, 88 Ames Street will soar 22 stories and will be one of the tallest residential towers in Cambridge. The property is located in the busy Kendall Square area of Cambridge. Developed by Boston Properties and designed by FX FOWLE, the project is scheduled to open in 2018.
Boston Global Investors (BGI) Development Advisors, have partnered with Berkshire Group (residential) and WS Development (retail) to develop a luxury high-rise apartment and retail project in the Seaport Square District of South Boston that will consist of 832 units in two towers, twenty-two and twenty stories respectively, on top of three stories of retail and three levels of underground parking. According to BGI’s project page, One Seaport Square will be the largest mixed-use project in Boston. The team broke ground on the development in the 4th quarter of 2014 and expects the project to be completed mid-2017.
The Four Seasons Private Residences One Dalton Street, Boston will be the tallest residential tower in New England according to the development’s website. The 61-story mixed-use tower will be comprised of a 211-room Four Seasons Hotel on the lower 23 floors, with two lounges, two restaurants and a health club and spa, as well as 180 private luxury residences on floors 25-61 with a private restaurant club located on the 50th floor.
This is a very exciting time to be involved in Boston real estate as it’s clear that Boston is birthing some of the largest residential and mixed-use projects in the city’s history. Feel free to tweet us @SMCRealEstate to let us know which project is your favorite!