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Might the Hub's Building Boom Be Just a 'First Wave?'

'Tis no small beer that the Hub is undergoing one of its briskest apartment-building booms in living memory: as many as 8,000 units across the region either planned or under way (don't believe that? Gander at our updated Rental Heatmap). The Herald's Greg Turner checked in with executives at AvalonBay, the mega-developer behind about 1,100 of these new units, including the 187-unit Avalon Exeter tower at the Prudential Center complex in Back Bay and the 404-unit 45 Stuart Street in the Theater District.

What caught our eye was a pronouncement by one of those AvalonBay executives, Michael Roberts: "It's a citywide phenomenon. There's a window of opportunity for new housing and rentals, and we're seeing the first wave."

First wave. Might, then, these thousands of new apartments and condos be merely the tip of the iceberg, the first lap, the whatever cliche you can muster this morning (we tried ours)? If it be so, it's good news. That's because the Hub needs the housing. The thousands of units already under way or planned does not begin to combat the region's chronic housing shortage and the concomitant prices. Want lower rents? Better condo selection in the $500K neighborhood? Hope that these 8,000 units, give or take, really do represent just a first wave.

· Developer Now Adding 1,100 Boston Apartments [Herald]
· Our Updated Rental Heatmap: Where the Hub's New Apts. Are [Curbed Boston]
· It's the Economy, Stupid—Hub's Building Boom Beyond Apts. [Curbed Boston]
· 45 Stuart to Stretch Over Jacob Wirth, Elevate Cars [Curbed Boston]

[45 Stuart Street]

45 Stuart Street

45 Stuart Street, Boston, MA