What Boston Neighborhoods and Submarkets Are the Most Undervalued?
About 740 people move to Boston each week. The city is one of the top U.S. metro areas for growth in recent years.
What’s driving the influx of people to Boston? The city is undertaking numerous development projects in many of its least valued neighborhoods.
These are becoming areas that people want to live, work, and play in.
Keep reading to learn more about the Boston neighborhoods and the city you should be watching.
The West End
We are seeing changes to the area’s streets and traffic flow thanks to massive new developments around TD Garden and North Station. An enormous tower unit, a new grocery store, and a huge movie theater are among the new developments.
This area is seeing significant new development thanks to M.I.T.
For example, the university commissioned the construction of the tallest building in Cambridge, standing at 500 feet. They also plan to build housing units, office space, research space, plazas, and parkland.
It’s all part of the Kendall Square Initiative.
The South End
The South end is seeing a plethora of new residential and retail development. These projects are transforming the area so much that residents are suggesting renaming it entirely.
The new construction is bringing new residents to the area as well
Service on the Silver Line from Boston into Chelsea has been added, meaning commuters who can’t afford to live in Boston will turn to Chelsea. The area is also seeing a lot of condo development.
We suggest keeping an eye on this area.
Recently, a 30 story condo and apartment building opened in the area. It’s the tallest building in the city west of Back Bay.
Another project in the area that has since begun is a 1.1 million sq ft, 5 building Fenway Center. The area is of course home to the Redsox, who are planning to renovate lots around Fenway Park.
Recent construction in this area includes a Four Season Hotel & Private Residences One Dalton Street, or One Dalton for short.
Recently built, this tower is 742 feet tall and features 160 condos and of course a Fort Seasons hotel.
Also being built in the neighborhood – a variety of new towers located new Back Bay Station. This project is set to add 1.26 million square feet of commercial and residential real estate.
Also being redeveloped is the Clarendon Garage.
Contact Us Today for Your Commercial Real Estate Needs in Boston Neighborhoods
If you’re a CRE owner or are thinking about getting into commercial real estate in one of these up and coming Boston Neighborhoods – now is the time.
Whether you’re looking to sell while prices are high thanks to new development or want to sell your other property and move into one of these areas, we can help.
Click here to schedule a consultation and learn more about how our knowledge and expertise of Boston’s best neighborhoods can benefit you.