Boston has been in a new construction frenzy over the past decade to accommodate a growing demand for housing. The development boom has added tens of thousands of new Boston apartments to the city’s rental supply. Despite the added inventory, the city has struggled to keep pace with growing demand as Boston’s rental market is experiencing historically low apartment supply figures in 2022. Many of these new construction projects have added more luxury apartments in Boston, and some have been critical of the lack of affordable housing units being built.
This has put additional pressure on city hall to green light new development projects that had been stalled or delayed during COVID-19. Now in 2022, there are several new construction projects that are working their way towards completion. Here are the top 5 housing development projects under construction in Boston:
1. Suffolk Downs
On May 25, 2022, the massive 16M square foot development project at Suffolk Downs broke ground in East Boston. The old horse-race track at Suffolk Downs will soon be home to 10,000 new East Boston apartments, 450K square feet of retail space, 5.2M square feet of commercial space, and 40 acres of parks and green space. This is the largest construction project by size and scope in the history of Boston, and will add much needed inventory to Boston’s rental supply.
2. 60 Kilmarnock Street
In October of 2021, building permits were issued for 426K square foot mixed-use development in Fenway. 60-80 Kilmarnock Street is currently being built and will house approximately 435 residential housing units in two buildings. It will also feature 250 parking spaces and ground-floor retail space. Supply has struggled to keep pace with the demand for Fenway apartments, and this project will provide a large number of units to meet that demand.
3: Orient Heights Redevelopment
In September of 2021, building permits were approved for the overhaul and redevelopment of the Orient Heights public housing development in East Boston. All pre-existing buildings will be demolished and replaced with 289 affordable housing units and 42 East Boston condos. The project will feature 375K square feet of eco-friendly living space, and the building plans to apply for LEEDs certification upon completion.
4. 1252-1270 Boylston Street
Another large new development coming to Fenway is 1252-1270 Boylston Street. Building permits were granted last April, and construction is well underway for this 227K square foot mixed-use development. This project will add 477 new residential housing units to Boston’s inventory, and will have ground-floor retail space featuring a 156-seat theater.
5. 159-201 Washington Street
159-201 Washington Street is a Brighton development project that is nearing completion. Planning to open up at the end of June 2022, this project features 583K square feet in 4 new residential buildings. This will add approximately 555 new Brighton apartments to the city’s rental inventory, along with 105 Brighton condos for sale and about 510 parking spaces. The project also plans to restore the historic St. Gabriel’s Monastery and the adjacent church.
The city has a long way to go until it reaches its goal of adding 69,000 new housing units by 2030. These development projects will certainly be a big step towards that goal. They will help to offset the short supply of apartments and subsequent rent hikes that come with it. The only way to combat rising rent prices is to add more affordable units to the rental supply. Now that the pandemic is over, hopefully more projects like these will get the green light.
Published June 21, 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.