The city of Boston has seen a wave of new construction developments over the past decade. In an effort to meet rising demand for housing, the city has made it an initiative to build 69,000 new housing units by the year 2030. This initiative has reshaped Boston’s skyline and turned the waterfront from a shipping yard into a haven of Boston luxury apartments.
Now, Boston is home to some of the newest most state-of-the-art luxury buildings in the country. But the work is far from done. Apartment shortages have pushed rent prices close to San Francisco and NYC levels, and more development will be needed to curb rising rents. Here are 5 of the biggest new construction projects that recently received approval from the housing board.
This massive Downtown development project has recently received board approval for the final phase of development. This involves the demolition of the Government Center Garage to make way for the office tower, a new public plaza, and a redesigned public transit hub. The total project when completed will add 486 new luxury apartments in Downtown Boston as well as an office tower and ground floor retail space.
220 Huntington Ave – Back Bay
This Back Bay development project received board approval in October of last year, and promises to add 351,000 square feet of residential and retail space. The project will include 325 luxury apartments, 153 parking spaces, and more than 17,000 square feet of retail and restaurant space on the intersection of Huntington and Cumberland Avenues.
819 Beacon Street – Fenway
Also receiving board approval in October of last year was 819 Beacon Street in Fenway. This project promises to add 393 housing units as well as 200 parking spaces and 1,600 square feet of retail space in a neighborhood that is in desperate need of additional housing inventory. It will also include 53 patient housing units for Boston’s Children’s Hospital.
NEXUS – Allston
This massive development project in Allston promises to add 576,000 square feet of mixed-use space. It will primarily be used for office and research use designed to accommodate companies in the biotech and life science spaces. The project will also include 40 luxury apartment units and 21,900 square feet of ground floor retail.
323-365 Dorchester Ave. – South Boston
This development project in Southie received board approval in December, and in March of this year they applied to demolish the existing commercial buildings that exist at the site. Once approved, construction will likely get underway for the 1M+ square foot development. When completed, it will add 310 luxury apartments across 352,750 square feet of residential space. It will also have 623,000 square feet of office space and 50,000 square feet of retail space.
These are some of the biggest projects awaiting building permits in Boston. These projects alone will add more than 1,500 housing units to Boston’s depleted supply. As prices soar across Boston for both rental and for sale properties, more projects like this will be needed to meet growing demand. We will continue to cover these projects as we learn more.
Published July 19, 2022
Demetrios has pulled together the largest apartment leasing team in the Greater Boston Area and is responsible for procuring more apartment rentals than anyone in New England – with over 130k people finding their housing through his services. Demetrios is an avid real estate developer, peak performance trainer, educator, guest lecturer and motivational speaker.