According to a report released by the U.S. Commerce Department on January 17, the construction of new homes in the U.S. skyrocketed in December, reaching the highest level of such activity in 13 years. The new construction rate, which started surging in July, comes at a time in which the labor market is incredibly strong. Unemployment is lower than it has been in nearly half a century...read more.
Once regarded as the Cradle of the Industrial Revolution in America, Lowell, MA, saw its fortunes falter as the textile industry abandoned it during the 1950s and 1960s. What many don’t realize, however, is that the city has been on an upswing -- and this very well could be Lowell's decade. If you are an investor seeking greener pastures beyond the city...read more.
With its unique, cantilevered profile and exceptionally eco-friendly design, the new Center for Computing and Data Sciences building at Boston University is sure to attract more than just students, faculty and researchers. In early January, construction began on the tower...read more.
By the time that it opens sometime in 2021, The Hub on Causeway’s office tower could be completely leased. In mid-January, the Boston Celtics and Boston Bruins signed leases for new office space at the under-construction tower at 100 Causeway, which makes up the third and final phase of the sprawling mixed-use development that has already transformed...read more.
Big changes are in store for the waterfront of Lynn – and January 2020 marked the beginning of them. The announcement of the groundbreaking for Breakwater, a new apartment complex, developer Callahan Construction Managers is the first to take concrete steps to transform the city’s waterfronts..read more.
In news that will shock absolutely nobody who lives in Greater Boston, the city is now ranked fourth in the country in terms of rental prices. According to reporting by REIS, Inc., Boston has the fourth highest effective rent out of 79 major metropolitan regions in the U.S. The average effective rent, or rent that nets out landlord concessions...read more.
According to a request that was released by the UMass Building Authority on January 10, 2020, the University of Massachusetts Boston is seeking ideas from private developers for how they would make use of the 10 acres that it owns at Columbia Point in Dorchester. Ultimately, the university would like for the new development to act as a new “front door” for UMass Boston...read more.
Amidst a veritable avalanche of development activity in a formerly quiet section of Brighton, a new project that would bring 108 new apartments to the neighborhood has taken its first step toward becoming a reality. On January 9, 2020, initial plans were filed with the Boston Planning...read more.
With just a few approvals from the state and city still needed, the second phase of the massive Fenway Center air rights project could start breaking ground later this year. A collaboration between John Rosenthal’s Meredith Management Corp. and California-based Creative...read more.
As reported in several recent articles here at Boston City Properties, local and regional shopping malls have been going the way of the dodo for some time now. This phenomenon is hardly limited to Greater Boston, however; in fact, according to recent reports, vacancy rates have reached a two-decade high at shopping malls across the country...read more.
Demolition of the former Boston Flower Exchange site has begun, officially marking the South End’s quest to join the ranks of Boston’s rapidly growing number of life science-technology hubs. The work, which began on December 12, 2019, will pave the way for the development of what is being...read more.
After nearly four decades, an air rights development is being built over the Massachusetts Turnpike – and a Cambridge-based company has officially signed a lease there, becoming its first anchor tenant. With CarGurus officially on board to occupy around 273,000 square feet at 1001 Boylston Street in Back Bay, construction on the new development is slated to begin...read more.
If you’ve been in Dorchester lately, you have probably noticed big changes happening at the former site of the Boston Globe headquarters on Morrissey Boulevard. Nordblom Co., the lead developer of the redevelopment of the newspaper’s former HQ, recently announced...read more.
As early as next week, a massive office building complex at Government Center in downtown Boston is expected to hit the market. Center Plaza, long the home of the New England headquarters of the FBI, will surely attract a lot of attention in Boston’s white-hot commercial real estate market, in which lease prices have been soa...read more.
After nearly two decades of on-again, off-again planning, construction of a new skyscraper that will sit atop South Station – the busiest rail hub in the city of Boston – is poised to begin this month. In late December, Hines, the lead developer of the project, closed on a $870-million construction...read more.
With the approval by the Boston Civic Design Commission of the master plan for a new development that is being planned for the former Suffolk Downs site, the project is just a short step away from being fully approved and ready for business. The 161-acre site, which spans parts of East Boston and Revere, was acquired by HYM Investment Group – the develo...read more.
Buzz about an impending casino in Everett started a while ago; the property on which it now sits was originally purchased in 2014. In anticipation of its June 23rd opening, Wynn Resorts Ltd. participated in a press conference to discuss the developer’s expectations for the short- and long-term...read more.
Boston continues to be a hotbed of construction activity. As always, Boston City Properties is here to bring you the latest. If you follow developments in new construction around the city—especially in the South End—you probably already know about the excitement that’s underfoot over at Shawmut Avenue...read more.
Courtney Wood of Boston City Properties represented the buyer for this spectacular penthouse at Boston's brand new Boulevard on the Greenway. The price tag for the home was $5.835m and closed on January 24th 2019...read more.
Capitalizing on the proximity of the Massachusetts Bay Transit Authority’s Orange Line, developers have conceived of a new, 1.5 million square foot mixed-use complex in the city of Somerville, Massachusetts to be built on a 9.4 acre parcel. The parcel, which is located in a prosperous area...read more.
Boston's South End has been a focus for real estate development in recent years, and the latest projects are sure to add instant value to the neighborhood for both residents and business owners. The latest plans will include a massive housing project with additional community features, all poised in an ideal location not far from Chinatown. The two plans...read more.
A cherished Boston landmark is safe for at least the next several decades. A few weeks ago, developers filed detailed plans with the Boston Planning and Development Agency regarding a new project that would ultimately incorporate the famous Citgo sign, which has appeared in the background of televised Red Sox games for years, into the final design. When all is said and done, two new buildings that feature...read more.
The Graphic Lofts is a new modular housing development currently under construction in Charlestown. Upon completion, it will hold the distinction of being the largest modular housing development in the city, and it is slated to become available to tenants in October. Each of the boxes that...read more.
The recent approval of the Winthrop Square Tower project by the Boston Planning and Development Agency is just the latest in more than two years of developments concerning the site. Original plans called for the tower to soar 775 feet into the sky, which would have easily made it the second-tallest...read more.
As Greater Boston waits to find out if Amazon will choose the city as the site of its second North American headquarters, the e-commerce giant stoked even more speculation with the announcement that it will be leasing warehouse space in Braintree. Speaking to city council on Monday, April 30...read more.
A proposed mixed-use tower that will rise over the Massachusetts Turnpike recently passed another hurdle on its way to full-fledged approval. Now that the Boston Planning and Development Agency has signed off on plans for 1000 Boylston Street, which is the working name for the project, developers hope to begin construction by the fall of 2018. When all is said and done, the new development...read more.
As more than a dozen U.S. cities anxiously await Amazon’s decision regarding where its second headquarters will be located, one of those contenders is already watching the e-commerce giant gain a larger and larger foothold in the local area. While the city of Boston is surely more concerned...read more.
Massachusetts, including the city of Boston and the surrounding areas, is on a housing crisis. Thankfully, there are government officials who want to make sure this problem is addressed. The governor of the state has announced that he has a goal of helping create approximately 135,000 housing units, a target that should be accomplished by the year 2025...read more.
Huge changes have been transforming the Boston skyline lately, and yet another is in the pipeline. In mid-December, the proposed Huntington Avenue apartment tower project, located in the Fenway near Symphony Hall, received the green light from the Boston Planning and Development Authority. Here at Boston City Properties, we are watching this project closely for a number of reasons. In addition to extending the “spine” of the city’s skyline, which will then stretch a bit west beyond...read more.
Will it soon be smarter to rent in Boston than it is to buy? The reality is that even people capable of purchasing high-end properties in Boston may soon opt to sign rental leases instead of mortgage papers. The tax bill that was signed into law just before the holiday has people across the country asking questions. Residents of Boston have their own set of questions when it comes to what new tax laws will mean for both renters and buyers in Bean Town. Who will come out on...read more.
Harvard University is the oldest and one of the most respected colleges in the United States. With so much history, it can be tempting to think of the school as a stagnant place. However, nothing could be further from the truth. As employees and students at Harvard University continue to press on with the latest innovations, real estate developers are also looking to transform this school with so much tradition into a hub of new growth and activity. The good news is that recent development plans should foster...read more.
A new concert hall could be coming to town. Located in Charlestown, the new venue will be able to seat 4,000 people, which makes the facility bigger than the Orpheum Theater or House of Blues but quite smaller than the Blue Hills Bank Pavilion. If the plan holds true, the HP Hood property on Rutherford Avenue will be soon converted into an extravagant entertainment center with an attached 775-car garage. Not only is the facility expected to greatly enhance the social scene of Hood Park, the exciting revitalization...read more.
When most people think about a million dollar home, they envision a luxurious mansion; which is what a lot of prospective buyers think about when envisioning their dream house. A market analysis was conducted by PropertyShark to determine how many buyers spent $1 million or more to live in one of the country's largest coastal cities. The cities that were under consideration in the survey have populations of 300,000 or more. The sales were only those which...read more.
The city of Boston continues to grow, and there is a continual need for offering more housing options for those living, working, and shopping in the area of Dorchester, including the Hancock and Pleasant Avenue areas. Traffic needs to be reduced on the roadways to accommodate the area that is busy every day due to so many cars on the road. At the same time, pedestrians need more...read more.
The way people experience living arrangements in Boston could change forever if a development firm in the city has its way. The developer behind the sprawling Ink Block development in South End Boston would like to add a new 14-story building that offers co-living arrangements. Newton-based National Development is working with a company out of New York that operates...read more.
There is good news for Hubway users in the greater Boston metro area. Many Hubway stations that are usually put into hibernation for winter will be available for use during the winter of 2017/2018. Cambridge has kept the majority of its Hubway kiosks open during the winter since 2013. This year, stations in the three other cities participating in the Hubway network—Boston, Somerville and Brookline—will be following suit. This will be great for commuters looking to...read more.
The rapid transit system saw its first expansion with the Red Line in 1985, and since then, the expansion of the Green Line has been in-talks. The Green Line Extension Project planning was initiated nearly four decades ago in the 1980s. The Green Line Extension Project has been turbulent and uncertain and has endured in times that it was nearly eliminated...read more.
The declining real estate business in downtown Boston in recent years has resulted in home and business owners and renters to seek more affordable property in surrounding areas, among them, Quincy. Large complexes have been built or are currently undergoing construction in Quincy Point, Marina Bay and Crown Colony Drive. Other medium-sized apartment...read more.
With several locations to choose from, the developers were once asked why they opted for Central Square for the project out of the other Boston metropolitan areas. According to them, the location is an excitingly vibrant place that already has lots of entertainment, restaurants, shops, and cultural organizations. These things are all surrounded by residential neighborhoods, which make the area quite attractive, not only for the renters and possible homeowners but also for businesses looking for a new home...read more.
Last year, the developers finally managed to get the financing in place for the project. With the influx of money, the construction could begin before the end of 2017. The first phase of the project will include two apartment buildings that house 313 units. Ultimately, the project is expected to have 650 housing units. It will boast of 50,000 square feet of retail, 160,000 square feet of offices and 1,290 parking spaces. Once it is finished, Fenway Center will include a daycare center, a community space...read more.
Within the last few years, Boston has experienced unprecedented growth in its residential and commercial real estate markets. A number of districts throughout the city are now the sites of new property developments that promise to create new buildings for housing, restaurants, hotels, and more. Among these Boston neighborhoods, the Seaport area remains popular with both commercial and residential developers. As one of the busiest and most accessible districts...read more.
A press release for the headquarters of Rapid7 caught the attention of the media when it included the word “Uptown” as it referred to the West End neighborhood. The global HQ of the technology company will relocate in West End but instead of saying the name of the neighborhood, the press release called the location as “Uptown neighborhood”...read more.
The first floor of each home features wall-to-wall carpeting. The spacious open-floor-plan living room has patio doors that open to a private deck or balcony. Partitioned from the living room with a wall with a cut-out window, the bright kitchen features white appliances that coordinate beautifully with the home's open-concept plan. Nearby lies the laundry area. Except for the tiled bathrooms, the upper level features carpeting. Each bedroom contains large double windows overlooking the yard and garden...read more.
A three-property hotel group has recently been financed in Natick and Somerville, two Boston suburbs. Totaling 623 rooms, the portfolio includes the 251-room VERVE-Crowne Plaza and 188-room Hampton Inn Executive Conference Center, both in Natick, and the 184-room Somerville Holiday Inn Boston Bunker Hill Area. Both Natick hotels lie near the 1.66 million-square-foot Natick Mall about 20 miles to the west of the center of Boston's downtown area. The Holiday Inn in Somerville...read more.
The project involves a 30,000-square-foot retail development with Island Creek Oyster Bar, Tuscan Kitchen & Market and TD Bank as anchor businesses. Other restaurants in the complex include Pressed Café, Rebecca's Café and Tavern on the Square. Both Island Creek Oyster Bar and Pressed Café are local New England establishments and offer locally-grown, farm-fresh food. Feng Shui, the newest and final food business to locate in The District Burlington, specializes...read more.
As American as apple pie and baseball, the ranch-style home first appeared in the U.S. Sun Belt in the 1920s. Based on the design of the Spanish Colonial architecture of the Southwest from the 1600s to 1800s, the ranch-style homes of the 1900s were long, single-story residences that featured simple roofs and open-floor plans. Other elements common to a classic ranch-style home included an attached garage, simple exterior and trim, wide overhanging eaves, separate living and sleeping areas...read more.
Consider a wrap-around porch to liven up the rectangular shape of a ranch-style home. Curved lines can also soften the rectangular-box image of a ranch-style home. Rounded garden beds filled with a variety of grasses, perennials and colorful annuals make the area more interesting. Instead of using right angles and straight edges, create a winding walkway of intricately-designed bricks, stones or concrete. Line with flowers to make the yard itself appear larger...read more.
Finished with stucco, a stone fireplace can add an interesting contrast to a brick home. Another unique texture contrast is the addition of a few round stones to a brick fireplace that creates a casual, informal setting. If you prefer your fireplace to blend in with the home's exterior, consider surrounding the fireplace with a material that coordinates with the house. Likewise, outfitting your fireplace with the same aluminum siding used on the house provides coordination and consistency...read more.
When you hear the word gazebo, you probably picture a nostalgic scene of an intimate summer evening. A contemporary gazebo, however, is also perfect for the home owner who wants to enjoy an outdoor living area that's shaded from the sun and covered in the event of rain. First used by British architects in the mid-1700s, the term gazebo refers to a pavilion-type structure that's commonly constructed in warm, sunny climates. Gazebos were popular in such classical civilizations as those in...read more.
Build your own outdoor furniture. One low-cost seating option is to purchase inexpensive concrete blocks, stack them and cover with a foam pad. Weatherproof toss pillows attractively add extra comfort. You can make them by spraying two-layered placemats with a fabric waterproofing spray, stuff with pillow stuffing between the layers, stitch back together, and you'll have a cool waterproof pillow...read more.
Beginning next spring, a 46-unit condo project in Brighton will be underway. The nearly 50,000-square-foot, five-story complex will sit on approximately one-third acre at 40-50 Hichborn Street where two three-family homes and a garage presently stand. Located near the Boston Landing development, the project is estimated to cost $9.5 million and will feature one common roof deck, several private roof decks and a rooftop pool. Amenities will include a community...read more.
There is optimism among economists, however, that there will be a future rise in new construction. In spite of the sharp drop during the past six months, new home construction remains over 6 percent above that of last year. In addition, the steady drop in unemployment brings hope that more homes will be built and sold. Buyers are also hurrying to close deals in anticipation of increasing mortgage rates. On the down side, the shortage of available homes and the resulting higher prices...read more.
Foreclosure filings are not simply improving; they are establishing a new norm for the amount we expect to see. Ten years ago, at the time of the recession, mortgage lenders had exceptionally low standards. Many experts suggest that mortgage lenders' lax, and nearly non-existent selection process, preceding the recession caused the extremely high default rates and Americans in home-foreclosure. Now, mortgage lender standards are strict and require high credit scores...read more.
General Electric Co. (GE) broke ground for their new headquarters which is moving from Connecticut to Boston. GE will be joining the Boston development scene which is currently hosting 14M square-feet under development and 40M square-feet permitted with development on-the-way. Of the new developments in Boston, around 80-percent are condominiums and apartments, and the majority of the remaining 20-percent is office space...read more.
If a homeowner places their home on the market, they join the pool of home buyers seeking an affordable home in a narrow and expensive market. Around 33 percent of people don’t think it’s a good time to be a home buyer due to the expensive market. The current buyers’ market is leaving homeowners skeptical of selling, even if their current home value is high and they think it’s a good time to sell. Due to the concern of failing to find a new home to move into that meets the needs...read more.
In May, housing starts were looking strong: new home construction was up by 5.6 percent month-over-month and 14.6 percent year-over-year. As for single-family abode new construction—has a backyard—in May, starts were up 4.9 percent month-over-month and 12.8 percent year-over-year. In May, condo and apartment development construction were up 12 percent month-over-month, and a whopping 18.4 percent year-over-year...read more.
The housing bubble was a time of high demand and low supply in the housing market, and nearly anyone who wanted a mortgage could get one. The housing bubble burst, the market crashed, and lenders drastically tightened mortgage loan qualification standards. Now, ten years later, mortgage lenders are relaxing their standards.Mortgages will now be more accessible to first-time home buyers. In the past, many would-be homeowners have been turned away by mortgage lenders...read more.
With current politics influencing the persisting low inflation rates, and the tight not-so-buyer-friendly housing market, housing sales have been down. Now, with mortgage rates on the rise in Boston, we may see aspiring homebuyers beginning to take action while rates remain relatively low. Also, with increasing mortgage rates, home appreciation rates are known to taper. The average home selling price is reportedly down 9-percent from august. This will benefit many buyers by making homes relatively more affordable...read more.
The new construction single family home market is tight, and it won’t be loosening up anytime soon. At the close of the second quarter 2017 housing starts were down by 5.5-percent to 1.09M units—lower than the Commerce Department’s projected 1.22M units and the lowest number of housing starts since September 2016. Year-over-year, homebuilding declined by 2.4-percent, which is adverse for economic growth. Economy experts are suggesting various contributing factors...read more.
In September, Amazon announced a new development project for a second headquarters, HQ2. But the retail giant lacks a location for their new, massive venture. Amazon is soliciting proposals from North American cities for the next headquarters—a city other than the current headquarters location, Seattle. Seattle is home to the current Amazon headquarters, but the company in uncertain Seattle can handle its continued rapid growth. As Seattle’s housing prices rapidly escalate...read more.
The apartment takes pride in its prime location in which it claims to be friendly to tenants who are looking for a place where commuting into downtown Boston is quite easy. The city center is just four miles to the southeastern part of the apartment area. What makes the residential building ideal to the tenants and daily commuters is that it is in proximity to the Orange Line. In addition to that, the six-story building has a parking garage that offers security as well as ample bike...read more.
A townhouse in Beacon Hill is in a prestige location that overlooks the iconic Public Garden of the City. It has lots of historic details. In fact, the townhouse dates back to 1820. Another fact is that this particular property is up for sale right now for $5.2 million. Located in the idyllic 34 West Cedar Street, the townhouse spans 4,158 square feet and boasts a total of 15 rooms...read more.
Back in the day, Wonderland Greyhound Park, which is located in Revere, was able to lure thousands of people who love to bet on a game involving dogs. This game used a mechanical rabbit that was called Swifty, and it would go around the outdoor track while the dogs chased after it. Those days are gone as demolition work for the park has recently begun...read more.
The historic mansion, Ames-Webster, at Dartmouth Street in Back Bay will be transformed into three condominiums. The starting price will be $20 million per condo unit. The building will also include a triplex penthouse. The mansion was up for sale since 2010, and it was only four years later when the seller reached an agreement with a Saudi sheik. Ames-Webster is a mansion located in Back Bay’s 306 Dartmouth Street. When it was first listed for sale, the original asking price was $23. However, there were no takers, so it was taken off the market for some time....read more.
The bike trail that is also pedestrian friendly is a work in progress. It is considered an ambitious project that provides a pathway for the inner city communities in Boston to the harbor. There are some segments that are already completed, but there are also other parts needing attention. There are also some parts of the path that require the help on construction from abutting lots. Initially, the path was made possible by concentrating on connections with facilities that were considered large scale. The trail has one of its sections created during the time when Orange Line...read more.
The townhouse is worth its price. It has a remarkable history as it has been around since 1865. What makes this property special is its humongous 450-bottle wine cellar. The spread offers four bedrooms with five bathrooms and a home theater as well. Outside, prospective buyers can see a green garden and a parking space that can hold two vehicles at the same time. The townhouse is ideally situated at 14 Rutland Square. This property has been dubbed as a man cave by some as it has features that single men would love. However, even females can go crazy over this stunner...read more.
Boston is currently experiencing a number of changes including recent major developments in the city. Many parts are enjoying the modifications, and one of them is East Boston. Among the several areas of the city, the eastern part is among the busiest. East Boston has a number of plans or proposed projects, including what seems to be the biggest this year, which is Amazon’s Headquarters. If not, there is still a huge possibility that a certain company will take the vacant site near the Blue Line. The racetrack is the site mentioned above. It has 161 acres of land and could...read more.
It seems like there are a lot of things going on in Boston, especially when it comes to renovation and improvements. One of them is set to happen in North Square, located at North End. It is the same place where the Paul Revere House can be found. However, the renovation is not the only headline to watch out for. Some updates were circulating that the city of Boston is planning to spend more than $2.5 million in revamping the area, including the installation of new cobblestones. According to the details of the plan, the project may include the replacement of the cobblestones...read more.
American Express and the National Trust for Historic Preservation teamed up to create an initiative. This particular initiative is holding a vote, which will decide on the historic parks and sites that will receive $2 million in funds for its preservation projects. One of these sites is in Dorchester. A simple yet thriving neighborhood in Boston, Dorchester has a two-part preservation project, and it is in the running for the voting. The supporters of the places, including for Dorchester, have until the 31st of October to show that they back the site for its upcoming projects...read more.
In 2000, the Boston Zoning Commission approved of the redevelopment of H.P Hood and Sons. The industrial site spans a total of 20 acres, giving plenty of space not only for industrial use but also for manufacturing, retail, and office. However, during that time, residential space was not included in the plan. The developers were able to change the plans by adding an apartment complex for the future office building. According to the developers, the first proposal was to have a 1.17 million square feet of space for the entire development. It would include six different buildings, along...read more.
Offering 213 different ridership lines, the Massachusetts Bay Transportation Authority serves the Greater Boston area. Out of its 213 lines, the MTBA dedicates 179 of those to bus riders and another 22 to light, heavy, and commuter rail passengers.More than 1.2 million people each work day ride the MBTA to and from work. Many of those passengers are destined for the prime commercial real estate districts located throughout Boston and Cambridge. The rising number of people using MBTA services to go to and from work each day accounts for much of why commercial rents...read more.
More and more real estate agents are turning to drone photography as a tool for both property sales and rentals. A survey by the National Association of Realtors showed that approximately 44 percent of the realtors surveyed use drones. Another 18 percent plan to use them in the future. With recent Federal Aviation Administration approval of the use of drone aerial photography in the real estate industry, the use of drones as a real estate marking tool is taking off. The FAA reports that the top two uses of drones in commercial applications are for aerial photography and real estate...read more.
Keeping with its annual tradition of honoring bright, innovative young minds, Forbes hosted its Under 30 Summit in October, 2017. The event brought together approximately 7,000 entrepreneurs, who convened in Boston to learn from some of the world's most successful young business leaders. This year's meeting brought together speakers and performers from across the world representing five main categories: Capital, Impact, Discover, Tech, and Create. This year's Forbes show featured an eclectic mix of 300 performers and leaders. Approximately 3,000 contenders made the Forbes...read more.
If you are your own boss, getting a mortgage may be more challenging than it is for others. This is due to several reasons. First, self-employed individuals are subject to a much more rigorous document-gathering discovery phase than the rest of the population. They are also subject to much more stringent evidence requirements. It is not impossible to get a mortgage when you are working for yourself, but you may have to do more in-depth advanced planning or look outside of traditional financing opportunities to make things work. In the United States, approximately 9 million people are self-employed...read more.
As the federal government continues making changes to the reverse mortgage program, the debate continues on whether or not the program will help or hurt borrowers. Some say that the program's revisions could lower the cost for some buyers and make the program more attractive in the long run. In the US, the Department of Housing and Urban Development (HUD) oversees a reverse mortgage program called the Home Equity Conversion Mortgage (HECM). This program, which is administered by the Federal Housing Administration (FHA), provides reverse mortgages to seniors...read more.
Currently, fewer than 30 percent of all homes in the United States are eligible to take advantage of the Mortgage Interest Deduction (MID). But with proposed tax changes on the horizon, analysts say that number could fall to under five percent. According to data published by the Internal Revenue Service (IRS), the most recent tax reform proposals have provisions to double the standard traditional deduction and eliminate the deduction rate of state and local taxes, including property taxes. Mortgage interest refers to interest paid on a loan that is secured by a primary or secondary home. It does not apply to personal loans...read more.
According to Forbes, about 5.3 million homes will change hands by the end of 2017. For prospective sellers, that requires getting the place ready for show. For a quick sale, experts recommend decluttering the home and staging it. You can do some of the basic work, like clearing off the counters and replanting the garden, by yourself. Many homeowners neglect to keep up with routine maintenance during the time that they occupy a home. That can add up to a significant bill when it comes time to actually sell a home. Fortunately, most preparation for staging is a simple fix...read more.
Housing costs are one of the biggest monthly expenses people have. Fortunately, there are several ways to reduce them. Shopping around for mortgage rates, using a broker to help find a lender, having a consistent work history, shortening a loan, paying for points, and maintaining a good credit score can help cut down on the cost of a mortgage. Some people end up refinancing their mortgages to reduce their monthly mortgage obligations, while others take a less risky approach by getting a lender to reduce their monthly mortgage rates. Whatever method you choose, it's easy to start chiseling away...read more.
So far in 2017, industry experts are seeing quite a bit of potential in REITs for long-term investors who seek growth and income. Following recent patterns, experts say that REITs are poised to continue growing. They note that REITs spiked in the summer of 2016, when the Brexit vote spurred investors to see stability and yield. In 2017, REITs across the board were off of their 2016 peak numbers and lagged behind the market as a whole. The result was underperformance and plenty of potential for growth. They caution that interest rates can affect REIT returns, but not in the same way...read more.
Humans tend to be overconfident and act on emotion when it comes to many decisions, including saving money. A study done by Sheldon Garon, a professor at Princeton University, showed that even after the 2008 financial crisis, the savings rate in the United States only increased by 5.5 percent. By 2013, it was back down to 2.6 percent. In addition to Americans' poor saving habits, other life factors like unforeseen medical expenses, job loss, or having a sick relative can quickly deplete financial supplies. Many people know that it is wise to save rather than spend, but it is still difficult to do...read more.
For many people, having a mortgage interest deduction makes buying a home a reality. The recently proposed tax reform, however, threatens to eliminate this deduction for prospective homebuyers nationwide. The new plan will raise, even double, the standard deduction threshold, which will automatically disqualify a large number of applicants. Based on the new threshold, many homeowners will not have enough deductions to meet the itemized standards. Gary Cohn, chief economic advisor, says that the tax reform won't have a major impact on prospective home buyers...read more.
Buying a home is a major life decision. You can spend quite a bit of time visiting open homes, hiring a real estate agent, envisioning the changes you'll make to a place, and still have trouble making the commitment of being a homeowner. Fortunately, several telltale signs indicate that now might be the right time to buy. If you have the finances to cover a down payment on a new home (which can be up to 20 percent of the home's price), if you can afford a monthly mortgage, and if you have a good credit score, you may be ready to purchase a home. Your personal financial situation...read more.
Bids to host Amazon's second headquarters saw many states and metro areas put forward proposals and Boston regions are no exception. Having received proposals from 238 cities and metro areas, Boston's Suffolk Downs joined Worcester and New Hampshire by unveiling its bid for the investment. The project will see Amazon spend up to $ 5 billion in initial investment and provide up to 50,000 high-paying jobs. Boston is pretty clear on the location they propose for the project- Suffolk Downs. Other sites, included in Boston's bid are South Station, Allston, and Widett Circle...read more.
Formerly known as North Point, it features as one of the largest development projects at the core of the Greater Boston. DivcoWest is a California based developer that specializes in tech and life science campuses. It is pitching the project to provide residents with an alternative to Kendall Square that is located a few blocks away. Over time, Kendal rent rates have increased in a bid to fit in the big-name tech and life science campuses. Cambridge Crossing provides affordable units but offers access to a similar workforce as Kendall Square now that the new MBTA Lechmere Green Line...read more.
In September, Amazon expressed its interest in investing more than $5 billion in the construction of its second headquarters. It invited proposals from cities and metropolitan areas where the buildings would be erected. The proposals span across 54 provinces, states, and districts in North America. Major metro areas such as New York, Washington D.C., and Boston have been mentioned as well as midsized cities such as Austin, Raleigh, Worcester, and Pittsburgh. Amazon predicts that the corporate headquarters would create up to 50,000 high paying jobs. A breakdown of proposals submitted...read more.
In 2016, multifamily lending advanced by 8 percent in 2016. Boston had nearly 3,000 multifamily lenders offering new mortgages in the region. In total, lenders provided $269.2 billion for mortgages on apartment buildings that had five or more units. The report by the Mortgage Bankers Association (MBA) showed that the largest lender closed on more than 7,500 loans. Meanwhile, 61 percent of active lenders closed on five or less loans. These loans ranged from tens of thousands to hundreds of millions of dollars. In 2017, the same momentum has continued. There is a strong demand...read more.
The Merc is an apartment community located at Moody and Main streets. It has a total of 269 units, making it one of the biggest new complexes of apartments in the Waltham, Massachusetts. The building is ideally situated in a transit-friendly spot and is now fully leased. Northland Investment Corporation, the developer of The Merc recently announced that the apartment complex in the heart of downtown Waltham has all of its 269 units leased. Leasing started back in 2015 even when the building was not yet finished. Two years later, every unit has found its resident...read more.
A new addition to the development plan for Seaport Square was revealed recently. According to WS Development, the Chestnut Hill-based developer of the last swath of the booming business district, three theaters will be added to the site. Seaport Square comprises of 23 acres of space on the waterfront of the city of Boston. WS Development is currently in charge of the 12.5-acre site...read more.
The 200-unit Boston East apartment complex will soon open in December and is now accepting applications for leasing. The $71 million project features a luxury residential building set on Border Street. The Trinity Financial, the property manager of Boston East, announced that pre-leasing the apartments have commenced since the first of August for the units at the waterfront project. The other projects of Trinity Financial have started selling out before the actual opening of the building, such as the Clippership Wharf. Due to the success, the property manager also decided to follow...read more.
There is an available unit for sale located at 144 Charles Street, and it is priced at $350,000. Unit 2-34 is not an apartment or a condo, or even a co-op, but it is actually a parking space. Charles Street in Beacon Hill is one of the top quality garages in the region of Boston. There may have been other pricier parking spaces in the area before, but this one at Charles Street is considered the most expensive...read more.
Boston-based Hamilton Co. has started the construction phase of a workforce housing complex that features a total of 40 units. The building is located at Packard’s Crossing in Gardner Street, Allston. It has entered its second stage of development, which is estimated to be worth $100 million. The construction is currently the talk of the town because of its moderately priced housing...read more.
The proposed skyscraper called the Winthrop Square Garage is one of the famous development plans in Boston right now. If completed, it would be recognized as the third tallest building in the whole city as well as in New England. Such recognition remains the same even though the developer has announced their willingness to reduce the height of the tower. Winthrop Square Tower...read more.
South Boston is a neighborhood in Boston that exudes a classic appeal. However, little by little, it is being rejuvenated over the years, and the newest one is a proposal from a developer for a five-story condominium. The proposed building is planned to stand at 463 West Broadway in South Boston, which will replace three commercial structures that currently exist there. A letter of intent...read more.
Originally, the park was simply an underpass between the South End and South Boston neighborhoods that measured eight acres. Today, it features a boardwalk for bicyclists and pedestrians. There are a total of 175 parking spaces that local businesses can use. There is also a mural wall where artists can express themselves. As an example, Sneha Shrestha, an artist who is based in Boston, contributed her piece to the mural wall. Her style is a mindful mantra expressed in her native language where she uses Sanskrit scriptures. Her work also shows influences of graffiti...read more.
On the 7th of September, Amazon made a public announcement that it is currently seeking for a home of its second headquarters. With the first one in Seattle, there have been stories circulating that Boston is a favorite city of many of the e-commerce giant’s executives. While Amazon is still accepting proposals until the 19th of October, there are already some suggestions about the best sites...read more.
Good news for the developer: all the 80 condominium units in Slip65 in East Boston have sold out. For those who are still dreaming about waterfront living, it is indeed bad news. Slip65, which will be situated at 65 Lewis Street is still under pre-construction phase, but its units have all been sold or under lease in just eight weeks after the announcement. The developer, Lendlease, has publicized that the condos have indeed broken a record even though the project is still unfinished. Slip65 is expected to welcome the residents next year...read more.
Many complain about the traffic congestion along the South Boston Waterfront and developer Millennium Partners has a proposed project: a gondola system. Millennium Partners are the same group that worked on one of the tallest buildings in the city, Millennium Tower. They also have another project that is waiting for approval. While waiting for the decision on their Winthrop Square Garage tower...read more.
Since the start of Fall in August this year, Boston remains to be one of the most expensive cities in the US for renting an apartment. According to real estate site, Zumper, Boston is the fifth most expensive city for one bedroom units and is the sixth most expensive for renting a two bedroom unit. According to the site, the median rent for one bedroom apartments in the city is $2,200 as of August 2017...read more.
Without the apartments, the Landmark Center redevelopment would have 506,000 square feet of space at the corner of Fullerton Street and Brookline Avenue. This available space will be used for new offices and laboratories in the building, which will be built on that particular site. Meanwhile, the center has another 950,000 square feet that currently exists, and it will be renovated...read more.
Phoenix Marketing International, a financial research firm, has released the list of the cities in the United States with the most number of millionaires – and Boston is one of them. In fact, Greater Boston is in the third spot as one of the cities with the highest share of households with at least one million dollars in wealth. Boston is one of the major metropolitan areas in the country that entered...read more.
Point Development, a developer, based in Newton, has expressed their interest in redeveloping Lower Mills. The plan is to convert the area to a 57-unit complex that can be occupied by its residents. Lower Mills measures one acre and is located at 1120 to 1132 Washington Street in Dorchester. There is no solid plan yet, especially as to whether the residential complex will be made of condos...read more.
The site listed that the median rents in Dorchester increased 9.4% from June to July, while Roslindale saw a 10% increase during the same period. Note though that these numbers were only for one bedroom units. Therefore, people who are looking for budget studios, two bedroom, and three bedroom units can still find them at these two communities. However, compared to the local markets...read more.
The new neighborhood in Somerville that did not even exist ten years ago is now considered the most expensive in the city. Called the Assembly Square, its history started in 2012 when the Assembly Row project was a complete success. According to a new analysis from a research website, NeighborhoodX, what was once a 45-acre project has now grown with numerous condominiums and apartments and is currently the most expensive when it comes to the asking prices for properties. Earlier this year, Assembly Row expanded its housing units and parking spaces...read more.
According to a deed at Suffolk County, Krejci and his wife sold their penthouse, which was located at 236 Commercial Street in North End, Boston. The penthouse has four bedrooms and comes with a huge living room with high ceilings. The property listing provided by David’s side also added that the condo has sliders that lead to a private deck where the Boston Harbor can be viewed. The penthouse measures 2,618 square feet and also comes with skylights and an open kitchen. There is also a vast dining area, as well as a floating staircase which the couple customized for themselves...read more.
Combined Properties, a developer based in Malden has come up with a plan to construct a building complex in Medford where there would be 500 units of residential space. It would also include retail and restaurant areas with a total of 53,000 square feet for such commercial purposes. The Massachusetts Department of Transportation (MassDOT) recently announced that Combined Properties...read more.
The Cambridge City Council opted for short-term rentals, such as those that are found when booking online with Airbnb, to be in the same building. With over 600 listings, Cambridge contains the highest number of rentals per acre, specifically in the Greater Boston area. The city council had an issue with the emergence of these rentals, which are run through sites like Airbnb. It has raised concerns, particularly over safety and quality for some policymakers. There are already some communities that have local restrictions on their short-term rentals, but the state Legislature is now considering proposals...read more.
A major developer known for apartment construction is planning to build an apartment complex in the northern part of East Boston. The neighborhood is booming and is consistently a favorite of many developers for residential units. This time around, the apartment complex is said to add 300 units in the Eastie. Gate Residential, the interested developer, has submitted a proposal to the Boston Planning and Development Agency regarding a future project that would involve a two-building apartment complex. It would roughly have 300 units, and the buildings would be...read more.
Despite the rain and thunderstorms, Cottonwood Management has officially started breaking ground on its M1M2 parcel. The developer has changed the name of the land to Echelon Seaport. It has over $900 million in budget and measures 1.3 million square feet. The enormous land will be utilized for a mixed-use development which will have 125,000 square feet of retail, which will be managed...read more.
Roof decks are so hot these days in the Boston area. Wealthy people who want to make sure that their residential space is seen as valuable should have at least a swimming pool on the roof of the apartment building. According to the city inspectors, the Boston area has granted permission to 2,500 roof decks. Elie Sader, 30 years of age who works as a neurologist at the Boston Medical Center, recalled how he would constantly gaze at the luxury building at the Seaport Boulevard. Called the Benjamin, the building has a pool on his deck while the property where he was staying at...read more.
Photos of the Skinny House have been floating around for years. However, when it went on sale, more people got curious, and a virtual tour was even put in place. It is called a skinny house because the building’s width only measures 10 feet and two inches, which is its widest point. The narrowest point is just six feet and two inches. The Skinny House is comprised of four stories and what is interesting about it is that it makes good use of its available space. As shown in the photos of the building, it would feel as if the owner has a studio apartment where narrow staircases...read more.
2012 — 2015
- Boston Condo Prices Now Virtually Equal to Single-Family Home Prices
- Greystar Acquires Apartment Building Site in Watertown
- Boston's Largest Office Sale of 2015 Finalized
- New Apartments to Be Developed Near New Balance's New Headquarters
- Boston Globe Headquarters Moving Downtown
- New Converse HQ to be Purchased by German Investors
- Boston's Iconic "First Skyscraper" has New Owner
- More Progress Made in Plan for New Seaport District Condo Tower
- Harvard Completes Land Acquisition at Allston Landing
- Bulfinch Triangle Project Construction Commencing
- Center Plaza Renovation
- Mayor Walsh Introduces a Plan to Meet the Growing Housing Demand
- Boston Has Become a $100 Billion Real Estate City
- Increased Focus Placed on Developing BRA Affordable Housing Units in Boston
- Million Dollar Properties: Tom Brady and Gisele Bundchen's Mansion Nears Completion
- Sunflower Castle Beacon Hill
- $2.6 Million Union Wharf Townhouse Purchased by Milan Lucic
- Boston Innovation District: Fidelity Moving Headquarters to Seaport
- Jumbo Loans in Massachusetts
- Avalon Bay Plans 503-unit Apartment Bulding by TD Garden
- Boston Vacancy Rate Continues to Drop
- Massachusetts Multifamily Homes: Governor Deval Patrick's Plan
- Boston Wharf Tower - A Street - Seaport District
- Pier 4 Boston
- Massachusetts Home Sales Hit Four-Year High
- Home Prices to Rise 15% in 3 Years
- Copley Place Condo and Retail Tower Put On Hold
- Plans to Transform Block of Stuart Street with Signature Building
- Millennium Partners 256-unit Condo Building Still Under Construction
- Synergy Investments Plans $60 Million Apartment Complex in Boston
- North Bennet School Plans Relocation, Seeks Approval From Boston Redevelop Authority
- New Boston Office Space Construction Making a Comeback in Boston Area
- Single Family Home Sales Up 24% in Massachusetts This Year
- Construction Starts on 26-Story Greenway Apartment Tower
- 1 Alewife Center