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Download Our 2015 Boston Real Estate Annual Market Report

free-download---2015-annual-marketreport

2015 was a game-changing year in Boston real estate. We saw the continued development of Downtown and the Seaport, while neighborhoods like Somerville and Dorchester saw their prices reach new levels. One thing is for sure, Boston is hotter than ever and that trend is expected to continue throughout 2016. If you’re a home-owner curious about the value of your home or someone looking to make a move to the city,  our 2015 Boston Real Estate Annual Market Report will be a valuable resource to you. Broken down by neighborhood, this report will paint a vivid picture of the city’s current market conditions.

 

download your free report

 

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Washington Village – South Boston’s Next Neighborhood

Rendering of Washington Village by Prellwitz Chilinski Associates Inc., courtesy of the Boston Redevelopment Authority.

Renderings of Washington Village by Prellwitz Chilinski Associates Inc., courtesy of the Boston Redevelopment Authority.

In a project notification form filed with the Boston Redevelopment Authority, DJ Properties LLC made public their plans to drastically transform a 4.9-acre lot in South Boston into a vibrant new neighborhood. Washington Village, located at Old Colony Avenue and Dorchester and Damrell streets, is currently home to a collection of old industrial buildings. The new project would replace those buildings with 656 residential units spread across eight brand-new buildings, 96,000 square feet of retail space and 2.4 acres of space devoted to the “public realm.”

According to the filing, “the Project [sic] will transform a mostly vacant, underutilized site into a vibrant mixed-use village that will be a natural extension of the surrounding South Boston neighborhood. The nature of the Project will improve the quality of life for existing residents by providing a variety of neighborhood retail stores and a range of complementary housing options.” These goals are in accordance with Mayor Martin J. Walsh’s signature 2030 Housing Plan to bring 53,000 new units of housing to the city over the course of the next 15 years. Additionally, through the creation of new retail space, the developers want to bring “basic retail services such as grocery shopping” within walking distance to residents of the neighborhood and reduce dependence on vehicular travel.

235-Old-Colony-Ave-PNF-2015-10-20 3Along with projects like the upcoming Seaport Square development, South Boston’s evolution into a self-sufficient and pedestrian-friendly neighborhood is quickly becoming a reality. If approved, the Washington Village project would break ground in the summer of 2016, eyeing a completion date sometime in 2021, and adding an incredible new development to the Boston real estate scene.

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Seaport Square Development Moves Forward

 

Rendering of Seaport Square, courtesy of the Boston Redevelopment Authority

Rendering of Seaport Square, courtesy of the Boston Redevelopment Authority

In a city dominated by new developments, South Boston’s $3.5 billion Seaport Square is the largest of them all. Spanning 20 city blocks and 23 acres, construction on the project broke ground in November 2014 but further developments were held up in March due to a potential lawsuit which was dropped last month. No longer under the threat of litigation, Boston Global Investors — who are developing the project along with a group of foreign investors — have recently submitted plans for a $700 million expansion of the project and the new phase of construction could break ground as early as the first quarter of 2016.

The new plans, which are currently under review by the Boston Redevelopment Authority and the Boston Civic Design Commission, call for the addition of three 22-story luxury residential towers and 125,000 square feet of retail space on a 3.5 acre parcel currently utilized for parking. The towers will each rise to approximately 256 feet and will bring around 1150 brand-new residential units to the neighborhood. A three-story underground garage will be constructed beneath the site, which will also feature a 9,000 square foot outdoor plaza. This new green space is intended to be a vibrant gathering place for the community and should play host to a number of events throughout the year. Four pedestrian pathways will form a perimeter around the site, allowing for easy access to the plaza.

The Seaport Square project is currently on track for completion in 2020 and aims to create one of the most modern and pedestrian-friendly neighborhoods in the Boston.

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Contemporary Loft – 2 Bedroom/ 2 Bath- Now Available

141 Dorchester Ave Unit 101

Loft with 180-degree views of the Boston City Skyline

Bushari Group Real Estate is pleased to present 141 Dorchester Ave Unit 101, in the McCallen Building, in South Boston for purchase. This property offers a chic contemporary loft-like feel with two generous sized bedrooms. The open kitchen/dining/living layout, sleek cabinetry and high-end stainless steel appliances bring out a modern sophistication; one that you’d be likely to see in LA or NYC, but a true rarity in Boston.

The living space has wall-to-wall windows with views of the the Downtown Boston skyline. Just outside your door is a huge private patio with a 4-person jacuzzi. The master bedroom offers an ensuite bath and a generous dressing room, just off the main room. The second bedroom also offers a large closet system and an oversized window that brings in an abundance of morning light. The home comes with one deeded garage parking space.

The McCallen building is a full service luxury building with many common amenities such as a common heated lap pool, Movie screening room with a full kitchen attached for entertaining, a common yard and grills for your Summer enjoyment, gym and 24-hour concierge services.

The McCallen Building in South Boston is in a prime location. It’s just across the street from the Red line Broadway T Station (just one stop from South Station to connect to silver line for the air port). There are bus lines that go direct into the city in with varying drop-off spots- from Back Bay to Financial District. The property is within a 10-15 minute walk to South End, Financial District and the heart of the Seaport District.

The location offers many entrainment choices from casual local pubs to fine dining. Here are just a couple to check out:

Local 149– Upscale Comfort Food, lounge-like feel (but your favorite sports games will still be on).

Amrheins– Best known for their amazing brunch has been rated “Best of Boston” in 2006 and 2009. For Dinner enjoy scrumptious steaks, seafood and overstuffed sandwiches.

Stats– This bar is packed on game nights. Come with your jersey on and be prepared to eat, drink and cheer.

American Provisions– This is a local, organic, gourmet grocery store. The store has a varietal of cheeses and cured meats. There is always fresh fish on Fridays (the owner head’s to the Cape that morning). You never know what it’s going to be, but you know that it will always fresh!

There is so much more to South Boston from the parks, the beaches, the harbor, Castle Island and all the other wonderful local establishments that make this neighborhood one of the best (yet underrated) neighborhood’s in all of Boston. I can talk about this area for days; perhaps because I live here, but also because their is so much to do and see!

If you want to learn more about South Boston, or would like to set up a showing for this listing, or others in the neighborhood, do not hesitate to contact me.

Andrea McDonough
Bushari Group RE
Email: andrea@bushari.com
Cell: 617-733-1238

 

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Top Residential Developments in South Boston

Top Residential Developments in South Boston

Boston is ramping up for millions of square feet of new development; a mixture of office, residential, commercial, retail and hotel space. As a Buyer in the Boston market, you need to know what’s going to be built in your neighborhood and the appreciation potential on your home. Luxury residential space can add significant marginal value, so it’s in your best interest to buy in before the development sells and reap the benefits later.  There are hundreds of projects that have reached Boston Redevelopment Board Approval and even more projects waiting for approval. Each week I will be zoning in on one neighborhood in Boston and giving you all the details you’ll need to know in order to make an educated decision on where to buy and when.

Here we go:

333 West Broadway Rendering

333-339 West Broadway
This 5-story project will consist of 15 condominiums with two affordable units, approximately 21,500 square feet of combined living space, 23 below-grade parking spaces and 1 commercial space on the first floor. The building will consist of one bedroom and two bedroom units, all with exterior decks.

The property is located across the street from Shenannigan’s. The location is just two blocks from the Broadway T Station and a 20-30 minute walk into South End, just over the West Fourth Bridge, which makes this project perfect for downtown commuters.

The project is being developed by  Paul Adamson and Mark Cummins along side the design group TJA Architect LLC. The most recent project from Adamson and Cummins was 257 West 3rd Street, which sold very quickly in May 2008, ranging from $599,000-$635,000.

This project is centrally located in a plethora of other projects- from approval to completion.  There a little over a dozen projects underway from the south, 2.5 million square feet of new construction coming from the Seaport District, just north East of the project and several other projects on the western side of Southie along Old colony and D street.

First + First
This project consists of 22 single family town homes. This project is extremely unique in it’s concept of “vertical living” – a unique way of laying out a home in a vertical fashion that maximizes space. Each home will consist of a ground floor with a full sized two-car garage and sufficient storage space, laundry room and entry hall. The first floor will have an open layout for versatile living and a European style kitchen with an island and breakfast bar. The second floor will have two bedrooms with ample closet space and the third floor with be the master bedroom with an ensuite bath, large closets and a spacious outdoor terrace.

The developer Trocadero is a boutique- style company that has done several projects in South Boston.  They are working along side Utile, Inc an architectural group to maximize design asceticism. The developers are working to meet environmentally responsible standards and seeking to achieve LEED certification.  The properties will feature energy efficient Bosch and GE appliances, Energy-efficient windows and recyclable building materials, as well as other requirements set forth by LEED standards.

Currently six of the twenty-two homes have sold as pre-construction sales. The prices range from $559,000-$599,000

 

The Distillery
This project is by far one of the most interesting projects I’ve seen yet. The development will contain 65 residential units, including a mix of artist live/work, loft-style and conventional units, 147 parking spaces, an art gallery, greenhouse, and small scale retail space.  Existing Distillery building will be preserved and the project will happen adjacent to the current Distillery site at the 1966 bottling plant. Designed with Icon Architects, it will ultimately include artist live/work studios, loft style residences, underground music practice rooms, an open courtyard venue for performances, a restaurant, a market, a greenhouse, galleries, retail space, an artist residency program, rooftop gardens, open green space, and public artworks.

The new Distillery building will be Passive House certified, and will use approximately 10% of the energy of an ordinary new building, a figure that far surpasses the benchmarks set by the U.S. Green Building Council’s LEED rating system which has become the standard in this country. In addition to these energy reduction figures, the building will incorporate numerous other green technologies such as cogeneration of electricity, recycled gray water, drain heat recovery, strategic daylight shading, community gardening and food production, and composting.

While Passive House is quickly becoming common in Europe, the Distillery development will be the largest Passive House building in the United States. The project aims to set a precedent for sustainable building while fostering a growing creative community.

In conjunction with this new development, the developers and affiliates are working on improving the efficiency and environmental impact of transportation to and from The Distillery and the neighboring buildings. A collaboration with the MBTA is in the works to reroute a downtown bus line to stop at our site, in as well as additional Zip Cars, new electric car charging stations, and networked community carpooling.

Pricing is not available at this time. If you’d like to be on a list for updates, please visit my website.

Other Projects to look out for:
There are dozens of other small-scale projects underway in this community. I’ve created a list below. If you have any questions, or would like more information on any of these projects, please visit my website and place an inquiry. I would be more than happy to send you more information.

1. 11 West Broadway- 50 Residential rental Units and 8,000sf of ground floor retail

2. 360 West Second- 4-story structure for the provision of 25 rental units and 25 parking spaces.

3. Channel Wharf- 45 units of housing and 68 parking spaces.

4. 371 D Street- 585 residential condominium units in 4 buildings with approximately 724 parking

5. 339 D Street- 24 units and 30 parking spaces within a 4-story building.

6. 902 East Second- 44 residential units and 49 parking spaces

7. 881 East Second- 16 units and 34 parking spaces in a new 4-story structure.

8. Patriot Homes- 24 new units of affordable housing for veterans and includes the adaptive reuse of the former D Street police station building and the construction of a new building.

9. 395 West Broadway- 24 rental units and 20 parking spaces with ground floor commercial space in the former South Boston Tribune building at 395 West Broadway.

10. Saint Augustine’s at 205 E Street- Conversion of Saint Augustine’s School building into 39 residential units and 47 parking spaces.

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Further Progress on Vertex Pharmaceuticals’ New Fan Pier Location

Back in April, we announced the plans for a large construction project in the Fan Pier area. Today, construction continues on the South Boston waterfront site, the future home of Vertex Pharmaceuticals. The figures released yesterday stated that about 2500 cubic yards of concrete were poured 42-feet below the surface to start the first of five concrete placements that will build the 18 story, 1.1 million sq-ft building.

The site would join the displaced company, which currently occupies ten different locations near Central Square in Cambridge. It is estimated that that the move would not occur until late 2013 or early 2014.

Check out pictures of the first concrete pour below:

Continue reading

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Trendy New Loft in Seaport District Now Available

This luxury Boston loft happens to be in one of the hottest loft buildings in the Seaport District and is only one T stop from the Financial District. This trendy loft at the popular Court Square Press building at 9 West Broadway features a luxurious, open kitchen with high-end appliances, granite counter tops and a spacious island. The unit offers soaring ceilings, brick and beam details, hardwood floors and sparkling skyline views. The modern bath is finished with a granite vanity and contemporary tile. There is ample storage in the huge walk-in closet. The loft also features a washer and dryer in-unit. Building amenities include 24-hour concierge, pool, fitness center, courtyard and club room. Court Square Press is across from the Broadway T stop on the Red Line. Rental garage parking available.
9 W Broadway #208 is available for $415,000

Call Elad Bushari at 617-529-7079 for more information or to schedule a preview.