Theatre District Land for Sale

Reasons to Invest

With some of the most spectacular buildings in the city, this district is at the center of one of the hottest markets in the larger metropolitan area. Property values here are always high in comparison to the rest of the region, with good reason: all the major attractions of Boston are either within walking distance or a short ride via easily accessible public transit. The lack of height restrictions here has also allowed for the development of numerous mid rise and high rise buildings, making it easier to add new housing and commercial spaces. Investors who buy land here will greatly benefit from their decision. The average purchase price for a dwelling here is $1,400 a square foot, with condos dominating the market. Some penthouses are marketed as townhomes, but there are no single family residences with their own private yards in this region. Retail spaces tend to lease for between $35 to $50 a square foot per year.

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Investors who wish to purchase property in the Theatre District will find the process expedited if they contact us. Through years of working within the city, we have developed a significant network of contacts that allows us to help serious buyers find suitable properties in incredibly fast timeframes. We can help arrange viewing appointments, and recommend different brokers or agents who may have a listing that is perfect for a given client. We make sure to ask each of our clients what they are seeking in terms of specific amenities, as well as their budget range and the type of property they would prefer. With this information, we create customized matches that result in sales and the formation of long-lasting, mutually beneficial relationships.

Geographic Location

Located in the heart of downtown Boston, this district is defined by Tremont Street, Huntington Avenue, Washington Street, and Boylston Street. In practical terms, this district forms an inverted L shape around the southeast corner of Boston Common, and abuts Chinatown to the east and Downtown Crossing to the north.

Types of Potential Developments

Traditionally, there are four types of developments that an area can sustain; homes, commercial investment properties, apartment buildings, and retail spaces. In this area, these four types have the most success of coming to fruition if they are combined into a mixed-use project. This is because of the sheer density of this region. Unlike a neighborhood that is located farther away from the city center, this area is compact and is highly urbanized. Large vacant lots are not a typology that exists here, and therefore the concept of a single family home with its own acreage is not a development that will likely be possible. This does not mean that a penthouse can’t replicate the experience of a private property in terms of space and views. Many of these units have a private rooftop for their owners, as well as a garden or landscaped area that mimics a yard.

However, mixed-use projects are in many ways far more advantageous to developers than single use structures. For one, the number of ways an investor can make a profit off a mixed-use development far outstrips a smaller project. This is partly because varied developments can better withstand natural ebbs and flows in the economic landscape. No matter what industry or fashionable trend is dominating the economy, a varied development will always be home to an industry that is succeeding. This provides for a steady return year after year. Most importantly, after years of establishing a track record, the property itself only increases in value. Naturally, these types of projects require a greater initial investment than a three unit development on a vacant lot. They also can provide greater returns in a shorter amount of time due to the interest they will attract.

Those who choose to invest in the Theatre District should consider advocating for projects that combine a large performance or cultural space in the lower floors which is situated so that commercial enterprises are clustered around it and potentially above it. This solid commercial foundation should then be topped by a number of residences of varying sizes. Everything from studio apartments to luxurious penthouse condos should be part of the plan. This encourages a vibrant mix of young professionals and established homeowners. The retail base, meanwhile, not only caters to the existing urban fabric but helps sustain it. Emphasizing a cultural space over a major commercial anchor tenant is crucial because it reflects what the neighborhood already is. Although investors are certainly welcome to bring in additional commercial tenants, there are several other areas of the city which are better suited to this type of development. It’s also worth noting that Downtown Crossing, which is known for its numerous brand name anchor retail tenants, is literally steps away from this area. As in all transactions, understanding context is key.

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Land for Sale