Seems a week can't drift by without some sort of sign that East Boston is starting a kind of inexorable change real estate-wise. Last week it was the opening of the Portside at East Pier, the first new waterfront residential project in Eastie in decades. Before that it was talk of the low supply and high demand plaguing the neighborhood's market. (And through it all the Damocles of 64 Marion Street's closing overhangs the proceedings.) Now comes the Boston Redevelopment Authority's O.K. of 135 Bremen Street, a new apartment complex to be located off the East Boston Greenway as well as about smackdab between the Maverick and Airport Blue Line stops.
The six-floor development, which the BRA approved late last week, is due to have 94 apartments, including a dozen designated affordable, as well as 8,300 square feet of commercial space along the ground floor near the Greenway. The apartments will run from studios to 3-BRs. Staggeringly, given its proximity to two T stops, 135 Bremen is due also to include 110 parking spaces; that car-centric features is offset somewhat by the complex's planned 100 bike spots. Construction is not expected to start until at least late next summer; it will then be another 12 to 14 months before completion. This will take a while.
· First New East Boston Waterfront Project in Decades Opens [Curbed Boston]
· East Boston: Low Supply, High Demand, Brooklyn Bound [Curbed Boston]
· Forget Market Basket. How About Market Value in Today's Hub? [Curbed Boston]