No one's prattled on more about the tech sector's effects on Hub real estate than us. So the news of a recruitment land rush in the sector gives us pause: Might all those micro-apartments be filled, in fact, and that gentrification in Eastie and Southie justified?
First the effects of tech on real estate. There are the the hundreds of micro-apartments planned for South Boston; the Innovation District; the future tenants, buyers and ferry riders of East Boston, which is supposed to take its cue from Southie's renaissance; there's Kendall Square and the debate in Cambridge over whether to build more densely.
So much of this real estate development—and, with it, policy changes—is predicated upon the expectation that we will have a steady influx of young professionals tied to a growing tech industry demanding housing and things to do at night.
Michael B. Farrell at The Globe deep-dives into the world of tech recruitment and finds that Hub firms have developed an insatiable appetite for talent. Some recruiters crank out hundreds of cold calls a day to would-be programmers and engineers (some of whom already have work), looking to fill positions in both start-ups and more established concerns. Said one employed database administrator, who actually, hand-to-God, had to limit his professional availability on LinkedIn: "There are always new recruiters. Recruiting seems to be a default career path for English majors."
Zing! But, seriously, folks, the recruitment land rush is good news for Hub real estate. The only caveat, of course, is that the sheer scope of development in the region. That is, a lot of apartments are going up in a lot of buildings (see our New-Development Heatmap for proof). And the changes to neighborhoods and streetscapes are of the permanent variety, difficult to hit Ctrl+Alt+Del on.
· Boston-Area Tech Sector Is Scrambling to Fill Jobs [Globe]
· What If Boston Loses Thousands of Tech Jobs? [Curbed Boston]
· South Boston Techies Will Rescue East Boston Real Estate [Curbed Boston]
· The Departed: South Boston to Change Forever This Year [Curbed Boston]
· A Day in the Life of Kendall Square: Lobster and Smartphones [Curbed Boston]
· NIMBYs and YIMBYs in Cambridge Hone Their Messages [Curbed Boston]
· Our Updated New Development Heatmap: Then There Were 50 [Curbed Boston]