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Crane Watch: New Interior Photos Released for South End’s 345 Harrison

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A two-acre site in Boston’s South End neighborhood will soon be home to two sprawling new residential buildings. 345 Harrison Avenue has become one of the neighborhood’s hottest new residential developments, delivering 585 world-class apartments to the bustling neighborhood. The two 14-story buildings, totaling 535,900 square-feet will include 40,000 square-feet of ground-floor retail and an underground parking garage with 275 vehicle spaces and 325 bicycle spaces.

The new buildings will further the urban renewal process that seeks to revitalize this area of Boston, while connecting the vibrant Downtown and South End neighborhoods. The project will improve pedestrian connectivity and circulation in the neighborhood and will serve as a vital physical and economic link between Downtown and South End. The site will include a landscaped pedestrian path that leads from the project to the MBTA Silver Line on Washington Street. Its location is conveniently situated across from a Whole Foods Grocery Store and countless other South End restaurants and shopping centers. Its developers, UDR, have built over 5,000 new units in six states since 2006 for total development costs of $1.3 billion. 345 Harrison has since become one of UDR’s most significant undertakings in terms of size and capabilities.

This week, UDR has released several new renderings, exhibiting the interiors of 345 Harrison‘s apartments and luxury amenities.

Amenities at 345 Harrison include a 14th floor sky lounge with outstanding Back Bay views, an outdoor rooftop swimming pool and expansive, 4,000 square-foot fully-equipped fitness center/yoga room.

Apartments are as dynamic and innovative as its South End address, crafted with crisp custom finishes, with every detail carefully considered to create a beautiful backdrop for your life in Boston.

345 Harrison Ave is expected reach completion by early 2018. Stay updated with new renderings, floor plans and pre-sales via Bushari’s Crane Watch.

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The Parsons – Coming Soon

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The Brighton neighborhood has become a hotbed for suburban residential developments. While downtown Boston sees an influx of high-rise towers throughout the city, its surrounding suburbs have boomed with modern dwellings. Its location is ideal for those looking for residential or commercial properties cheaper than downtown, but still relatively close to job centers in the city. Credit for its boom can be given to the rise of commercial activity following New Balance’s footsteps into the area.  The Brighton neighborhood has since become a thriving hub of boutique businesses and residences flanked by lush green parks and gardens.

Amongst the exciting new developments underway in the neighborhood is The Parsons residences at 88-94 Parsons Street.

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The multi-family project, which is now undergoing interior finishing, will bring four outstanding new town homes to a vibrant street in Brighton. The Parsons is comprised of 2+ bedroom, 3.5 bathroom residences with spacious, open layouts ranging from 1,600 to 1,700 square-feet. The residences are complete with a shared patio and parking. Its sleek, contemporary architecture reflects the dynamic image of its redeveloped suburban space.

Residents will benefit from The Parsons close proximity to Saint Elizabeth’s Medical Center, Harvard Business School and New Balance Headquarters. Its convenient location, situated by the Massachusetts Turnpike is ideal for commuters and those ready to be whisked off to more urban excitement.

These four residences will be soon hitting the market. Inquire now at BostonRealEstate.com.

88-94 Parsons Street | Brighton

4 townhouses | 2+ bedrooms | 3.5 bathrooms

1,600 – 1,700 square-feet

Parking available

$899,000

Exclusively listed by Eric Tam | eric@bushari.com | 617-803-5683

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Half-Way There: Boston’s Millennium Tower is Rising Above

 

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As Boston’s first luxury residential skyscraper, the Millennium Tower has been the most-anticipated project in a city that is experiencing its biggest development boom in four decades. Since breaking ground in the fall of 2013, the building’s developers, New York-based Millennium Partners, have used promotional materials to convey the promise that, with their project, “the city rises from here.”

With construction scheduled to be completed in just over a year, that promise can be seen from all over the city as the Millennium Tower currently stands at 341-feet—just about half-way to its final height—and can be seen “rising above” its downtown neighbors from points all over the city.

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Millennium Tower will feature 442 luxury condominiums, beginning on the tenth floor, with the first seven floors playing host to upscale dining and retail options open to the public. Acting as a buffer between the public and private spheres of the building will be The Club, described as a “one-of-a-kind environment of casual luxury, perfect for socializing, relaxing and meeting.” The Club at Millennium Tower will offer residents a number of unrivaled amenities, including an owner’s lounge, screening room, parlor, library, function room, pool, spa, concierge service and the largest residential-only fitness facility.

Millennium Partners have spent more than twenty years perfecting their formula of building luxury properties in “gateway” cities such as Miami, New York and San Francisco. Their reputation, along with Boston’s pent-up demand for luxury condos, have contributed to a massively-successful pre-sale with more than 75% of the units already under contract – to the tune of $650 million.

When Millennium Tower opens next year, it will stand as the third-tallest building in Boston, with only the Prudential Tower and the Hancock Building soaring above. That is, until 2017 when the 700-foot tall Four Seasons Tower, located near the Christian Science Plaza, is scheduled to open. With several more towers in various stages of development, the  promise of the city rising is well on its way to coming true.

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Mayor Walsh and Boston Real Estate

Boston DevelopmentBoston rang in a new era on Monday. For the first time in two decades, a new face graced the Mayor’s office. Mayor Martin J. Walsh started with a bang, announcing a changing of the guard in multiple city offices – including the Boston Redevelopment Authority. In a surprise announcement on Wednesday afternoon, Mayor Walsh appointed former state representative Brian P. Golden as interim head of the BRA. As such, Golden will be authorized to sign all documents requiring execution.

One of Mayor Walsh’s original campaign promises was to “restructure” the Boston Redevelopment Authority, though he back-tracked in mid-December on his most drastic ideas of dismantling the BRA and replacing it with a completely new agency more responsive to neighborhood concerns. “I wouldn’t expect any major change until the second half of my first year in City Hall,” Walsh said, in an attempt to reassure Boston developers at an event in the Boston Harbor Hotel.

So what will Mayor Walsh’s planned changes mean for Boston real estate? Well, the way I see it, putting more weight on the “neighborhood voice” in Boston development decisions quite frankly terrifies developers. In their minds it means miles of more red tape, increased costs and dozens more meetings to get approvals. Small and mid-size developers may be less likely to take risks on expensive renovation projects (South End condo-conversions and Beacon Hill rehabs), and certainly undeveloped land (new 10-40 unit condo buildings in South Boston). If they do move forward and development is stalled or costly because of the city, those costs will be reflected in the list prices. In addition, Mayor Walsh is seen as a friend of the unions. Union construction costs more for developers – again, a cost that will be passed onto the end buyer.

That said, if list and sale prices increase for new developments and building rehabs, that will have a ripple effect for other Boston homes. List prices will increase across the board based off new comparables and possibly continued low inventory (depending on how smoothly the BRA functions). This scenario would be good for Boston sellers, expensive for buyers.

On the other hand, if the BRA becomes more transparent, as Mayor Walsh promises, this may mean a smoother and clearer process for developers. This would lead to more confidence and eventually, increased inventory. Good for Boston buyers, not great for sellers. However, a powerful “neighborhood voice” channeled in the right direction can increase green space, parks and playgrounds. Residents can demand neighborhood improvements and beautification projects. Some of the biggest issues such as traffic, parking and building shadow concerns have an important place in city planning and it’s important that the people who care about their neighborhood have a say. In the long run these changes and amenities benefit both buyers and sellers.