The Boston real estate market is all over the place. The inventory of available homes is cartoonishly low, prices seem ever-ascending, and no one knows exactly where West Roxbury ends and Roslindale begins anymore. Perhaps the most berserk facet of the market is development. The city is seeing more development, particularly residential, than it's seen in eons (though it's really not enough to close the housing gap responsible for Boston's San Fran-like prices and rents). A few developments in particular are particularly momentous.
One of those is the mother of all recent Boston towers: Millennium Tower. The 625-foot, 56-story spire off Washington Street (rendered above) could very well give Downtown Crossing the nudge it needs to become truly 24-7 neighborhood. Or it could become just some giant gated community, another missed opportunity for more middle-class housing in Boston. (Hey, just because these developments are rocking the city right now doesn't mean they're necessarily rocking them for good.) Sales registrations have been under way at Millennium Tower since early May. Closings should start after the new year.
The ginormous Boston Landing, which got officially under way in September 2013, will spawn (deep breath) a 250,000-square-foot HQ for New Balance shoe empire; a 345,000-square-foot sports complex with an NHL-regulation arena; a 175-room hotel; up to 650,000 square feet of office space spread amongst three buildings; 1,750 parking spaces; and 65,000 square feet of retail. It might also include up to 295,000 square feet of residential space at 125 Guest Street. Oh, and Boston Landing birthed another commuter rail stop. Is it all enough to make Brighton Boston's new It Neighborhood? Stay tuned. It's certainly one of the biggest single developments beyond the city's core in years.
The Lovejoy Wharf project is one of many residential projects under way or almost so in Boston. What makes it rocking unique is this: The city O.K.'d it without any on-site parking. That's right—in a town that values a good parking space more than human life (probably, if we're honest), the developers of Lovejoy Wharf are going ahead with an entire complex of 175 condos, plus amenities and retail, without plans for any on-site parking. The logic? There's so much public transit nearby, why take up (literally) valuable real estate with great slabs of car-parkage? Why, indeed. Lovejoy Wharf is currently under construction and expected to be finished in 2015. It is the first large-scale Boston condo project ever without on-site parking. Truly rocking.
Plans to transform the Boston Harbor Garage into a massive mixed-use complex could easily transform the Boston waterfront that much further. The plans would plunk two towers, one 600 feet and one 500 feet, where the garage is now. Together the towers would contain 700,000 square feet of office space; a luxury hotel with between 250 and 300 rooms; 120 condos; three levels of retail and restaurants; and 1,400 parking spaces. We're talking 1,300,000 square feet of new development. Plus! There would be an all-seasons outdoor space called Harbor Square big enough to comfortably hold the Rockefeller Center ice rink in NYC. Currently, the Boston Harbor Garage plans are confronting that old Boston rigamarole: kvetching over the towers' height and density. We have a feeling they'll happen, though, and the city's skyline will never, ever be the same.
· Boston, It's Time to Admit You Have an Inventory Problem [Curbed Boston]
· More Proof Boston Condo Prices Are Never, Ever Dropping [Curbed Boston]
· Brighton's Massive Boston Landing Wants to Add Housing [Curbed Boston]
· Boston's 5,000 New Apartments Won't Mean Lower Rents [Curbed Boston]
· Rats and Snobs: the Changing West Roxbury/Roslindale Rivalry [Curbed Boston]
· Brighton Rising: Boston's Next 'It Neighborhood' [Curbed Boston]
· Millennium Tower Groundbreaking: 10 Things to Know [Curbed Boston]
· Millennium Place and the Rise of Gated Communities Downtown [Curbed Boston]
· Murphy's Law and Boston Parking [Curbed Boston]
· Mapping a Busy February in Greater Boston Apartments [Curbed Boston]
· No Parking: Boston Green-Lights Car-Less Condo [Curbed Boston]
· Here's Why the Harbor Garage Towers Are Likely to Happen [Curbed Boston]
· Harbor Towers: 600 Feet High, Are You Crazy? This Is Boston! [Curbed Boston]