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Established 2015
Employees 12
Website http://www.bldup.com
Phone Number 617-329-9042

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BLDUP is a place to get real time information on construction and real estate development. The company is the web authority for commercial construction.

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ULI Releases 40th Annual Emerging Trends Report: Boston #7 on Markets to Watch
- Oct 14, 2018

ULI Releases 40th Annual Emerging Trends Report: Boston #7 on Markets to Watch

ULI in partnership with PwC has released their 40th annual Emerging Trends in Real Estate report, examining the $7 trillion marketplace.  The report, compiled with the help of nearly 2400 industry experts identities the top trends to watch for in 2019 along with the top markets in the US.  At a panel discussion on October 10th, ULI leadership along with research thought leaders discussed the report and their thoughts on the upcoming markets.

 


 

ULI’s Top 10 Markets To Watch in 2019

  1. Dallas/Fort Worth, TX
  2. Brooklyn, NY
  3. Raleigh-Durham, NC
  4. Orlando, FL
  5. Nashville, TN
  6. Austin, TX
  7. Boston, MA
  8. Denver, CO
  9. Charlotte, NC
  10. Tampa, FL

 


 

Among the factors for selection into this top ten list included the readily available and educated workforce pool in cities like Dallas/Fort/Worth & Boston.  Others like Orlando & Tampa offer friendly business climates and attractive cost structures. Raleigh, Nashville, Austin, and Boston also have the distinct advantage of strong STEM (science, technology, engineering, and math) job markets which are projected to grow 73% faster than the broader job market over the next 5-10 years. As Mitch Roschelle, Partner of PwC pointed out about Boston.  “There is a massive concentration of talent coming out of colleges and universities that have the skills needed for the next generation.”

 

A few of the top trends included:

 

Amenities Gone Wild: From office buildings to multi-family developments, amenities are a must have and they are continually growing more unique. According to the ULI data, 81% of employers feel that the proper amenities are one of the top three things they can offer their employees.  In the Multifamily sector Tom Toomey, ULI Global Chair and CEO and President, and Director of UDR pointed out that amenities for each development are a different puzzle however they have seen a trend toward services that are saving people time.  As he noted these types of services come at a higher cost but do lead to a higher tenant retention rate.

 

Retail is NOT dead

As Mary Ludgin, Managing Director at Heitman, aptly noted “We need to come up with a more nuanced view of retail. The negative perception many have now is a bit extreme.”. While there are some shopping centers that may be doomed to fail there are many others thriving.  There are also reuse options for these spaces and many retailers who are starting online are realizing with increased delivery costs and the higher cost to advertise online that they do in fact need a brick and mortar store.

 

Overall the report’s outlook for the coming year is positive but attention does need to be paid to the growing technology in the real estate world as well as the fact that real estate has now become an accepted asset class around the globe.  Andrew Warren, Director Real Estate for PwC noted: “It feels like we have hit a plateau but there is nothing on the horizon that could cause a sharp downturn.”


September's Top New Construction Multifamily Buildings in Boston
- Oct 07, 2018

Below are BLDUP's most active* Boston-area new-construction multifamily buildings as of September 2018. All of these buildings are either approved, under construction or recently completed. Each building contains either apartments or condominiums; a number of buildings are mixed-use and contain retail space.

*Most active based on page traffic

 


1. The Hub on Causeway

Bulfinch Triangle - Boston

Projected Opening: Late 2018 (Phase One)

The Hub on Causeway is a 1.87 million square foot mixed-use development featuring three towers with retail, office, hotel, and residential uses. The Hub on Causeway will be constructed in three phases. Completion of Phase One of The Hub on Causeway is expected in late 2018. Phase Two will consist of a 38-story residential tower with approximately 440 units and a 10-story citizenM hotel tower with approximately 260 rooms. Phase Three will consist of a 21-story office tower totaling approximately 525,000 square feet. Learn more >>>

2. The Smith

South End - Boston

Projected Opening: 2020

The Smith is an upcoming mixed-use development situated on a three-acre site bounded by Harrison Avenue, East Dedham Street, Albany Street and East Canton Street in Boston's South End. The project will consist of four buildings totaling approximately 710,000 square feet. A total of 650 apartment residences and 80,000 square feet of office space will be constructed at The Smith, in addition to 20,000 square feet of ground-floor retail. A two-level parking garage will be built underneath the project site; up to 650 off-street parking spaces will be located at The Smith. Learn more >>>

3. EchelonSeaport

Seaport District - Boston

Projected Opening: Late 2019

EchelonSeaport will be comprised of three mixed-use towers containing 1.3 million square feet across 3.5-acres in the Seaport District. 717 residences and 125,000 square feet of retail and restaurant space will be built at EchelonSeaport. Two of the EchelonSeaport towers will contain 447 luxury condominium residences, and one tower will contain 270 luxury apartment residences. Resident amenities at EchelonSeaport will include two signature outdoor pools, an indoor pool, expansive sun decks, engaging courtyards, and oversized private terraces. Learn more >>>

4. Parcel K

Seaport District - Boston

Projected Opening: Late 2020

Parcel K is an approved mixed-use development project totaling approximately 500,000 square feet. The project will include a 12-story residential building containing 304 rental apartment residences and a 12-story Hyatt Place hotel with 294 rooms. The apartment building will feature a rooftop pool, club room, and terrace, and the hotel building will feature a rooftop fitness room and pool. The buildings will also contain approximately 12,000 square feet of office space and approximately 18,000 square feet of retail and restaurant space. A one-level underground parking garage will have the capacity for approximately 450 cars. Learn more >>>

5. Avalon at Hilltop

Saugus, MA

Projected Opening: Late 2019

Approved mixed-use redevelopment of the 14-acre former Hilltop Steakhouse site located on Route 1 in Saugus. Three new four-story residential buildings will be constructed at the site’s rear containing 280 luxury apartments. Apartments will include 16 studios, 122 one-bedroom and 142 two-bedroom surrounding a landscaped courtyard with a pool, grills, fireplaces and dog parks. 10% of apartments will be designated affordable. Learn more >>>

6. Bulfinch Crossing

Bulfinch Triangle - Boston

Projected Opening: Fall 2020

Bulfinch Crossing is a 2.9-million-square-foot multi-phased development project that will replace the existing above-grade concrete Government Center Garage with six mixed-use buildings, a pedestrian-friendly streetscape and a public plaza on two appropriately-scaled urban blocks spread across approximately 4.8 acres. The West Parcel will include a 45-story, 480-foot-tall luxury residential apartment building at 100 Sudbury Street, which will be the first structure built. The Phase I tower will feature 368 apartments and 55 condominiums for a total of 423 residences  Learn more >>>

7. Jefferson at Malden Center

Malden, MA

Projected Opening: Fall 2019

Jefferson at Malden Malden Center is a unique transit oriented mixed-use development that includes 320 residential apartments, 45,000 square feet of office space that will become the new Malden City Hall, and more than 22,500 square feet of street retail. The project includes an unprecedented amenity package, with over 30,000 square feet of common space, including 9,000 square feet of indoor amenities. Jefferson at Malden Center will construct three new wood-framed buildings connected by a sky bridge. Each building at Jefferson at Malden Center will include ground-floor retail. Learn more >>>

8. Fenway Center

Fenway - Boston

Projected Opening: Early 2020

$600 million, 1.1-million-square-foot mixed-use air rights development project in Kenmore Square that will consist of five new buildings, including a 27-story tower, above the Massachusetts Turnpike and on existing surface parking lots. A total of approximately 550 residential units, 160,000 square feet of office space and over 50,000 square feet of retail will be built at Fenway Center, in addition to over 30,000 square feet of park and green space. A seven-story parking garage at Fenway Center will include 1,290 parking spaces. As part of the project, the Yawkey MBTA commuter rail station was recently overhauled, and new public access roads were constructed throughout the existing parking lots. Learn more >>>

9. Motor Mart Garage

Bay Village - Boston

Projected Opening: TBA

New project plans released in September 2018 call for the redevelopment of the existing building and the construction of a 20-story residential tower rising out of the garage. The western portion of the existing parking garage will be converted into approximately 84 new residential units. The new residential tower will rise out of the eighth floor of the existing building and contain around 306 apartment and condominium units.  Unit sizes will range from studios to three-bedrooms. Resident amenities are set to include a fitness center, a small exterior pool, and a vegetated roof on the ninth floor. Learn more >>>

10. Washington Village

South Boston - Boston

Projected Opening: Fall 2020

Upcoming redevelopment of five acres in South Boston’s Andrew Square into a mixed-use development spanning six blocks. Eight buildings will be constructed containing 656 residences including both apartments and condominiums, 98,600 square feet of retail space and parking for 560 cars. Residences will include studios, one-bedrooms, two-bedrooms and three-bedrooms. 110 residential units at Washington Village will be designated affordable. A 1.5-acre public plaza and green will be located at Washington Village's center. Heights of buildings at Washington Village will primarily be between three and six stories, with two buildings closest to Dorchester Avenue ranging from 18 to 22 stories. Learn more >>>


Bookings in the Ballpark
- Sep 28, 2018

The Fenway area has been experiencing many drastic changes in the hospitality and tourism industries. Restaurants, bars, music venues and retail has turned Fenway into a destination that is not just visited for the ballpark. Tourists now visit the Fenway area to take advantage of the new hospitality attractions. Boston’s economy grew by 3.6% from 2014 and 2015 (3.8% higher than the previous year), according to the Gross City Product. The economic growth in Boston is accelerating faster than the growth rate of the U.S. economy. Boston’s Gross City Product in 2015 reached $109.5 billion, which made up 22.6% of Massachusetts’ spending. According to Hotel Valuations & Appraisals (HVS), the REVPAR (revenue per available room) in Boston grew by 1.6% due to the increased demand and growth of the economy.

Plans have been made for hotel development in the Fenway area. Located near Boylston Street, Ipswich Street, and Private Alley 938, is a plot of land that currently exists as the Shell gas station and private parking lot. OTO Development has proposed the idea of developing a select service property on the site. Due to demand generators such as Fenway Park, Longwood Medical Center, Boston University, Northeastern, Wentworth Institute of Technology, Museum of Fine Arts, and a plethora of bars, restaurants and other entertainment venues, the developer is convinced that the project is feasible. The completion date is projected to be December 2020.

http://www.bldup.com/projects/1241-boylston-street

______________________________________________________________________________________________________________

BLDUP sat down with Dr. Arun Upneja, Dean of the School of Hospitality Administration at Boston University to discuss his insight on hotel development in the area. Dr. Upneja, who received his B.S., M.B.A., and Ph.D. from the University of Houston and is also the winner of the John Wiley & Sons Lifetime Research Achievement Award, from the Council on Hotel, Restaurant, and Institutional Education.

BLDUP:  What changes have you seen in hotel Design within the past decade?

Dr. Upneja: Hotel design has shifted within the past decade. When designing new properties, today’s developers place a greater emphasis on the public space with more collaborative areas, as opposed to guest rooms. Today, the price point to design a hotel doesn’t have to be as high.

BLDUP:  What trends to see in supply vs. demand in the Boston market?

Dr. Upneja: Demand is relative to the time of year. In the late fall and early spring, the demand isn’t as prevalent as in the late spring and summer.  When demand is high, Airbnb helps alleviate the lack of supply.

BLDUP:  How should developers handle new technological trends in the hotel market?

Dr. Upneja: When developing a hotel I believe that a certain level of technology is now expected. Every hotel should be experimenting with new technology. I also believe that as a whole, the hotel industry’s back-of-house and guest-level technology are lagging behind other industries.

______________________________________________________________________________________________________________
Sources:

http://www.bostonplans.org/getattachment/d835ad4c-e8a9-4f17-b342-468f02301c58

http://hvi.hvs.com/market/united-states/Boston



Future Proof Parking
- Sep 26, 2018

With new plans for a twenty-eight-story tower at the Motor Mart garage, yet another parking structure in Boston is getting an upgrade. The list of garages being either renovated or torn down to make way for new development is long within the city. The demolition of the Garden Garage was completed over the summer along with a section of the Government Center garage making way for Bulfinch Place and let’s not forget Winthrop Square.  All of these new developments are set to include parking but these prime locations were ripe for redevelopment during this building boom. This trend does, however, raise questions about the future of parking and transportation. With improvements to parking technology along with self-driving cars on the horizon, how will parking demands change in the coming years and how will garages adapt to new technology.

Pictured above: The proposed 28 story redevelopment of the Motor Mart Garage

For the short term, parking demand will still be high so developers are looking to new technology to maximize revenue and provide frictionless parking options for tenants.  With parking requirements varying across the city, developers often need to find ways to include the required parking ratios in projects with limited space. In the dense neighborhood of South Boston, several developers have turned to City Lift parking systems to alleviate this issue. City Lift, based out of California, with offices in Boston, offers a variety of automated parking options to reduce a parking footprint by 40-80%. A City Lift system is currently in place at 39A Street, a 23 unit condo building in South Boston.  The fully automated system installed on this project allows for 24 parking spaces in a two-level puzzle. Residents can easily access their cars with the swipe of a key fob. Cars at ground level in the grid can be accessed within 15 seconds and those on the second level only take 45 seconds. This technology has provided a benefit not only to developers and residents but also neighborhoods by getting more cars off the streets.

 Parking system technology is also finally catching up with the rest of the tech world.  Many parking systems are moving data to the cloud and upgrading to barcode scanners and other advancements. Developers of new or redeveloped projects are looking at these latest innovations to ensure the technology they are investing in now is future proof. Laz Parking offers consulting services that allow developers to maximize income, ensure expenses are being used efficiently, and customers are happy.  They also utilize a business analytics tool to calculate rates using real-time data. Their thorough parking plans can also be used as a leasing tool, as was the case with the Arsenal Yards project. Mike Mihalow of Laz Parking, explained: “The operations plan we designed for Arsenal Yards allowed Boylston Properties to show tenants how parking would be handled at the project and helped them sign their anchor tenant for the project”.  Properly designed parking plans combined with the right technology are an important asset to a community or development.

In the longer term, the question remains as to what will happen to garages if and when parking demand is drastically decreased.  Architects across the country have started designing for a new wave of “future proof parking” structures. Instead of leaving cities with outdated buildings that can only be torn down to be rebuilt these new garages are designed to be easily converted to commercial or residential space after the parking is no longer needed.  

The new designs focus on two key elements that will make the garage convertible, flat floor plates instead of inclined, and larger floor to ceiling heights, ideally 15 feet.  While this change may be a bit more costly for developers up front they will be ahead of the curve in years to come. A few of these garages are already appearing across the country including the now under construction Fairview District Parking Garage in Houston designed by Gensler.  The design includes the flat floor plates that will allow for conversion if parking demand dips. In Los Angeles, the proposed Avalon Bay Arts District includes a 1,000 car garage, however, plans include flat floors so space could be converted in the future. In Boston, WS development, the minds behind Seaport Square, are also in the on the trend, including a convertible garage space in their recent project in the booming neighborhood.

With the changing parking landscape and technology advancements, future proofing parking through technology or construction could be a smart investment for developers across Boston.


August's Top New Construction Multifamily Buildings in Boston
- Sep 04, 2018

Below are BLDUP's most active* Boston-area new-construction multifamily buildings as of August 2018. All of these buildings are either approved, under construction or recently completed. Each building contains either apartments or condominiums; a number of buildings are mixed-use and contain retail space.

*Most active based on page traffic 


 1. The Hub on Causeway

Bulfinch Triangle - Boston

Projected Opening: Late 2018 (Phase One)

The Hub on Causeway is a 1.87 million square foot mixed-use development featuring three towers with retail, office, hotel, and residential uses. The Hub on Causeway will be constructed in three phases. Completion of Phase One of The Hub on Causeway is expected in late 2018. Phase Two will consist of a 38-story residential tower with approximately 440 units and a 10-story citizenM hotel tower with approximately 260 rooms. Phase Three will consist of a 21-story office tower totaling approximately 525,000 square feet. Learn more >>>

 

2. One Dalton

Back Bay - Boston

Projected Opening: March 2019

One Dalton will consist of 712,500 square feet of residential, hotel and retail space. One Dalton's upper floors will contain 180 private luxury condominium residences. Underneath will be a Four Seasons luxury hotel with 215 rooms. Building amenities will include a lap pool, a fitness center, a salon with manicure, pedicure and hair styling services, a private yoga and pilates studio, a golf simulator room with a wet bar and a private theater room, and more. Learn more >>>

 

3. 21 Revere Beach Boulevard

Revere, MA

Projected Opening: TBD

The plans call for a 127-unit mixed-use development at 21 Revere Beach Blvd., and 73 units in the rear building at 20-50 Ocean Ave. Gate Residential is requesting the minimum for parking requirements for apartments, retail use, and restaurant use. In addition, it seeks a minimum loading space requirement for restaurant use and a minimum screening for an off-street parking area. Learn more >>>

 

4. Fenway Center

Fenway - Boston

Projected Opening: Early 2020

Fenway Center will be constructed in two phases. The $240 million Phase 1 will entail two residential buildings (Buildings 1 and 2) of 7 and 13 stories, respectively, containing a total of approximately 339,000 square feet that will be built on existing surface parking lots. Phase I will construct 312 apartments, 37,000 square feet of ground-floor retail and 200 underground parking spaces. A 12,000-square-foot air rights deck and landscaped pedestrian walkway will be constructed over Yawkey Station as part of Phase I. Construction of Phase I is now underway, with completion expected in early 2020.  Learn more >>>

 

 

5. Avalon at Hilltop

Saugus, MA

Projected Opening: Late 2019

Approved mixed-use redevelopment of the 14-acre former Hilltop Steakhouse site located on Route 1 in Saugus. Three new four-story residential buildings will be constructed at the site’s rear containing 280 luxury apartments. Apartments will include 16 studios, 122 one-bedroom and 142 two-bedroom surrounding a landscaped courtyard with a pool, grills, fireplaces and dog parks. 10% of apartments will be designated affordable. Learn more >>>

 

 

6. Congress Square

Financial District - Boston

Projected Opening: 2020

Upcoming 458,300-square-foot mixed-use development featuring state-of-the-art hotel, office, residential and retail space located in the heart of Downtown Boston overlooking Post Office Square. Five historic buildings will be fully restored, and new additions will be constructed for a total of 92,700 square feet of new construction. The development will contain 284,600 square feet of office space, including a 200,000-square-foot joint headquarters for advertising agencies DigitasLBi and Publicis. Sapient. It will also contain 165-key, 85,700-square-foot Hyatt Centric boutique hotel, 51,350 square feet of residential space containing 35 condominiums, and 36,650 square feet of retail space. Learn more >>>

 

 

7. Parcel K

Seaport District - Boston

Projected Opening: 2020

Approved mixed-use development project totaling approximately 500,000 square feet. The Parcel K project will include a 12-story residential building containing 304 rental apartment residences and a 12-story Hyatt Place hotel with 294 rooms. The apartment building will feature a rooftop pool, club room and terrace, and the hotel building will feature a rooftop fitness room and pool. The buildings will also contain approximately 12,000 square feet of office space and approximately 18,000 square feet of retail and restaurant space. A one-level underground parking garage will have the capacity for approximately 450 cars. Learn more >>>

 

 

8. EchelonSeaport

Seaport District - Boston

Projected Opening: Late 2019

Echelon Seaport will be comprised of three mixed-use towers containing 1.3 million square feet across 3.5-acres in the Seaport District. 717 residences and 125,000 square feet of retail and restaurant space will be built at EchelonSeaport. Two of the EchelonSeaport towers will contain 447 luxury condominium residences, and one tower will contain 270 luxury apartment residences. Resident amenities at EchelonSeaport will include two signature outdoor pools, an indoor pool, expansive sun decks, engaging courtyards and oversized private terraces. Learn more >>>

 

9. Bulfinch Crossing

Bulfinch Triangle - Boston

Projected Opening: Fall 2020

Bulfinch Crossing is a 2.9-million-square-foot multi-phased development project that will replace the existing above-grade concrete Government Center Garage with six mixed-use buildings, a pedestrian-friendly streetscape and a public plaza on two appropriately-scaled urban blocks spread across approximately 4.8 acres. The West Parcel will include a 45-story, 480-foot-tall luxury residential apartment building at 100 Sudbury Street, which will be the first structure built. The Phase I tower will feature 368 apartments and 55 condominiums for a total of 423 residences  Learn more >>>

 

 

10. Exchange South End

South End - Boston

Projected Opening: Fall 2020

The approved $600 million commercial development totaling nearly 1.6 million square feet across 5.6-acres located in Boston’s South End. Four new buildings would be constructed at Exchange South End featuring approximately 1,481,350 square feet of commercial, technology, and life science research space with 42,500 square feet of ground-floor retail space and 30,000 square feet of civic and incubator space oriented about a new public park. Over one acre of new pedestrian-friendly public open space, known as Albany Green, would be constructed on site. Exchange South End would host 4,000 to 7,000 new jobs, and represent a total investment of over $1 billion in the South End neighborhood.  Learn more >>>

 


July's Top New Construction Multifamily Buildings in Boston
- Aug 18, 2018

Below are BLDUP's most active* Boston-area new-construction multifamily buildings as of July 2018. All of these buildings are either approved, under construction or recently completed. Each building contains either apartments or condominiums; a number of buildings are mixed-use and contain retail space.

*Most active based on page traffic

 

1. The Hub on Causeway

Bulfinch Triangle - Boston

Projected Opening: Late 2018 (Phase One)

The Hub on Causeway is a 1.87 million square foot mixed-use development featuring three towers with retail, office, hotel, and residential uses. The Hub on Causeway will be constructed in three phases. Completion of Phase One of The Hub on Causeway is expected in late 2018. Phase Two will consist of a 38-story residential tower with approximately 440 units and a 10-story citizenM hotel tower with approximately 260 rooms. Phase Three will consist of a 21-story office tower totaling approximately 525,000 square feet. Learn more >>>

 

2. 7INK by Ollie

South End -  Boston

Projected Opening: Construction Beginning Late 2018

The approved project calls for a 14-story residential building containing 250 shared suites and micro-studios. Developed by National Development and co-living and micro-housing specialist Ollie, 7INK by Ollie would be Boston’s first major co-living development, emphasizing communal living. The building would provide a full range of services, unique community engagements and extraordinary shared amenity spaces. Learn more >>>

 

3. Exchange South End

South End -  Boston

Projected Opening: Fall 2020

The approved $600 million commercial development totaling nearly 1.6 million square feet across 5.6-acres located in Boston’s South End. Four new buildings would be constructed at Exchange South End featuring approximately 1,481,350 square feet of commercial, technology, and life science research space with 42,500 square feet of ground-floor retail space and 30,000 square feet of civic and incubator space oriented about a new public park. Over one acre of new pedestrian-friendly public open space, known as Albany Green, would be constructed on site. Exchange South End would host 4,000 to 7,000 new jobs, and represent a total investment of over $1 billion in the South End neighborhood.  Learn more >>>

 

4. Avalon at Hilltop

Saugus, MA

Projected Opening: Late 2019

Approved mixed-use redevelopment of the 14-acre former Hilltop Steakhouse site located on Route 1 in Saugus. Three new four-story residential buildings will be constructed at the site’s rear containing 280 luxury apartments. Apartments will include 16 studios, 122 one-bedroom and 142 two-bedroom surrounding a landscaped courtyard with a pool, grills, fireplaces and dog parks. 10% of apartments will be designated affordable. Learn more >>>

 

5. 345 Harrison

South End -  Boston

Projected Opening: Spring 2018

345 Harrison is a mixed-use development project that consists of two new 14-story buildings totaling approximately 535,900 square feet of new space. Approximately 585 rental residential apartments are being built at 345 Harrison, along with up to 40,000 square feet of ground-floor retail including a 10,000-square-foot CVS Pharmacy and the Shore Leave tiki bar and restaurant. Resident amenities will include a 13th floor Sky Lounge with sweeping skyline views, a resort-style pool, and a fully-equipped fitness center. A one-story underground parking garage containing approximately 275 automobile spaces and 325 bicycle spaces will be built along William Mullins Way. Learn more >>>

 

6. One Dalton

Back Bay - Boston

Projected Opening: 2018

One Dalton will consist of 712,500 square feet of residential, hotel and retail space. One Dalton's upper floors will contain 180 private luxury condominium residences. Underneath will be a Four Seasons luxury hotel with 215 rooms. Building amenities will include a lap pool, a fitness center, a salon with manicure, pedicure and hair styling services, a private yoga and pilates studio, a golf simulator room with a wet bar and a private theater room, and more. Learn more >>>

 

7. 2-10 Maverick Square

East Boston, - Boston

Projected Opening: TBA

The project calls for a 10-story mixed-use building located right in the heart of Maverick Square in East Boston, forming the gateway for all residents and visitors entering the hub of East Boston. Two floors of retail space will anchor the base of the building, with residential units designed for the upper 9 floors. The building's facade is clad in a zinc coated copper, with various layers of brick and curtain wall to help reinforce its presence in the square. Learn more >>>

 

8. 150 Seaport

Seaport District - Boston

Projected Opening: 2020

Approved 22-story mixed-use waterfront building in Boston's Seaport District. 150 Seaport will contain 124 residential condominiums, 10,700 square feet of ground and second level retail space and three levels of underground parking. 19 condominiums at 150 Seaport will be designated affordable. A Harborwalk extension will be built around the building. 150 Seaport will be built at the present site of the Whiskey Priest and Atlantic Beer Garden waterfront restaurants. Learn more >>>

 

9. EchelonSeaport

Seaport District - Boston

Projected Opening: Late 2019

Echelon Seaport will be comprised of three mixed-use towers containing 1.3 million square feet across 3.5-acres in the Seaport District. 717 residences and 125,000 square feet of retail and restaurant space will be built at EchelonSeaport. Two of the EchelonSeaport towers will contain 447 luxury condominium residences, and one tower will contain 270 luxury apartment residences. Resident amenities at EchelonSeaport will include two signature outdoor pools, an indoor pool, expansive sun decks, engaging courtyards and oversized private terraces. Learn more >>>

 

10. Bulfinch Crossing

Bulfinch Triangle, Boston, MA

Projected Opening: Fall 2020

Bulfinch Crossing is a 2.9-million-square-foot multi-phased development project that will replace the existing above-grade concrete Government Center Garage with six mixed-use buildings, a pedestrian-friendly streetscape and a public plaza on two appropriately-scaled urban blocks spread across approximately 4.8 acres. The demolition of a major portion of the garage over Congress Street will allow for daylight to shine on Congress Street for the first time in more than 40 years. Learn more >>>


The Price is Right: The Rising and Falling Rents In Boston
- Aug 14, 2018

The Price is Right: The Rising and Falling Rents In Boston

 

Luxury rents in Boston are beginning to dip while the middle and low end of the market continues to see rents rise.  According to Zillow data, the median rent for the top third of the market fell below $3,000 in June to $2,986. This is a slight decrease from June 2017, where the average rent was $3,018.  The middle and lower third of the market, however, both saw increases in average rent over the same time period. These rental trends have also been seen in other cities across the U.S. including San Francisco, Chicago, and Washington D.C.

With large influxes of high-end inventory, all offering top finishes, and amazing amenities, property owners are starting to adjust rents downward and in some cases offer concessions to attract renters.  Several luxury buildings across Boston, including Benjamin/Via in the Seaport, 345 Harrison in the South End and Lantera in Boston Landing, are all currently offering 1 or even 2 months free rent to attract top tenants.

As demand for affordable housing increases, a report released by Boston 2030 shows developers are starting to listen.  According to the report, the first quarter of 2018 saw an average quarterly pace of production up to 107 middle-income units from 63 per quarter in 2016.

However, with more large high-end projects in the pipeline, including rentals at Pierce Boston now available, it remains to be seen if the market can continue to absorb this much luxury inventory.


MassEcon ReadyMass 100
- Aug 12, 2018

MassEcon ReadyMass 100

Last week MassEcon released their 10th edition of the ReadyMass 100.  Four new properties have made the cut this go-round including three industrial locations and one office property.  The ReadyMass 100 initiative aims to inform growing companies both in and out of state that Massachusetts has ample supply of properties (land, office/lab, and industrial/flex warehouse space) ready to go.  A team of real estate experts and the MassEcon team work to vet the properties based on a number of different criteria including, building condition, access to highways, and appropriate zoning codes.

 

The ReadyMass 100 has already resulted in over 50 success stories, representing about 7 million square feet.  The most recent being Boeing’s lease at 314 Main Street in Cambridge

 

The full list can be viewed here: http://massecon.com/services/readymass100/search.

 

Some highlights include…

 

Alewife Research Center

The Alewife Research Center offers 223,000 square-feet of cutting-edge lab space aimed at life science firms who are looking to attract top talent.  With easy access to the MBTA and many local bike trails the building is also set to offer a fitness center, employee lounge, and dramatic 2 story lobby.

Union Point

Union Point, the redevelopment of the South Weymouth Naval Air station, offers a variety of commercial options just 12 miles from Boston.  The mixed-use development is set to feature 4,000 homes including the recently opened Mastlight along with retail options, 1,000 acres of open space, and direct access to the South Weymouth Commuter Rail. The site is set to offer over 10 million square feet of commercial space and offers fast-track permitting options.

ISQ Seaport

Innovation Square will feature 375,000 square feet of research, development and manufacturing facilities.  Situated within the busy Seaport District the location is close to transit, restaurants and has easy access to major highways.  Tenant amenities will include a collaboration center, fitness center, and green space, along with bike storage. The first phase of the project, to be anchored by Mass Innovation Labs, is set to open in the first quarter of 2019.


June's Top New-Construction Multifamily Buildings in Boston
- Jul 24, 2018

Below are BLDUP's most active* Boston-area new-construction multifamily buildings as of June 2018. All of these buildings are either approved,  under construction, or recently completed. Each building contains either apartments or condominiums; a number of buildings are mixed-use and contain retail space.

*Most active based on page traffic.


1. The Hub on Causeway

Bulfinch Triangle - Boston

Projected Opening: Late 2018 (Phase One)

The Hub on Causeway is a 1.87 million square foot mixed-use development featuring three towers with retail, office, hotel and residential uses. The Hub on Causeway will be constructed in three phases.Completion of Phase One of The Hub on Causeway is expected in late 2018. Phase Two will consist of a 38-story residential tower with approximately 440 units and a 10-story citizenM hotel tower with approximately 260 rooms. Phase Three will consist of a 21-story office tower totaling approximately 525,000 square feet. Learn more >>>


2. One Dalton

Back Bay - Boston

Projected Opening: 2018

One Dalton will consist of 712,500 square feet of residential, hotel and retail space. One Dalton's upper floors will contain 180 private luxury condominium residences. Underneath will be a Four Seasons luxury hotel with 215 rooms. Building amenities will include a lap pool, a fitness center, a salon with manicure, pedicure and hair styling services, a private yoga and pilates studio, a golf simulator room with a wet bar and a private theater room, and more. Learn more >>>


3. Garden Garage

Bulfinch Triangle  - Boston

Projected Opening: Late 2021

The Garden Garage development will consist of the replacement of existing 650-space parking garage with a 44-story, 469-unit residential apartment tower. The tower will include approximately 20,000 square feet of common resident amenities and approximately 2,300 square feet of ground-floor retail space. A new parking garage will be built underground with approximately 830 spaces, increasing parking capacity. Improvements will also be made to surrounding sidewalks and landscaping, increasing existing open space by approximately one acre.  Learn more >>>


4. Arsenal Yards

Arsenal Mall - Watertown

Projected Opening: TBD

The approved multi-phased redevelopment and expansion of the former Arsenal Mall in Watertown’s East End. Arsenal Yards will feature 350,000 square feet of retail and entertainment, approximately 425 residences ranging from studios to three-bedrooms, a 145-room Hampton Inn and Suites by Hilton hotel and 100,000 square feet of office space. Retail at Arsenal Yards will include a 30,000 square foot specialty grocer, a cinema with 6-8 limited-seating screens, active entertainment, a combination of boutiques and national retailers, half a dozen chef-driven restaurants and a premium wine superstore.  Learn more >>>


5. Bulfinch Crossing

Bulfinch Triangle - Boston

Projected Opening: 2020

Bulfinch Crossing is a 2.9-million-square-foot multi-phased development project that will replace the existing above-grade concrete Government Center Garage with six mixed-use buildings, a pedestrian-friendly streetscape and a public plaza on two appropriately-scaled urban blocks spread across approximately 4.8 acres. When fully built, there will be 800+ housing units (apartments and condominiums, including affordable units), 200 hotel rooms, 1.15 million gross square feet of office space and 82,500 gross square feet of retail space at Bulfinch Crossing. The reconfigured garage, which will be enclosed on its three principal sides by the new West Parcel buildings, will contain approximately 1,100 parking spaces of the existing 2,300. Learn more >>>


6. Saint Gabriel’s Monastery Redevelopment

Brighton - Boston

Projected Opening: TBD

The project consists of the construction of two five-story high new 400 Residential units, reffered to as building two and three. Building two has a maximum footprint of 28 200 square-feet and building three has 37 500 square-feet. The first floor consists of parking in building two and residential units in building three. and residential and amenity spaces on the second floor through 5th floors Per the project's Expanded Project Notification Form (EPNF), resident amenities could include "a fitness center, indoor basketball court, common lounges, kitchens, games room, café, outdoor pool, and more. Learn more >>>


7. 115 Winthrop Square

Financial District - Boston

Projected Opening: 2022

115 Winthrop Square is a 53-story, 691-foot-tall tower that would replace a decrepit City-owned parking garage located in Winthrop Square in the heart of Downtown Boston. Across the $1.3 billion, 1.592-million-square-foot tower’s top 26 floors would be approximately 500 condominium residences, with approximately 750,000 square feet of commercial office space across 20 floors below. As part of the proposed project, 115,000 square feet of new affordable housing would be created, most likely in Boston’s Chinatown in collaboration with the Asian Community Development Corporation. Millennium would pay the City of Boston $166 million in order to acquire and develop the garage site. Learn more >>>


8.  EchelonSeaport

Seaport District - Boston

Projected Opening: Late 2019

Echelon Seaport will be comprised of three mixed-use towers containing 1.3 million square-feet across 3.5-acres in the Seaport District. 717 residences and 125,000 square feet of retail and restaurant space will be built at EchelonSeaport. Two of the EchelonSeaport towers will contain 447 luxury condominium residences, and one tower will contain 270 luxury apartment residences. Resident amenities at EchelonSeaport will include two signature outdoor pools, an indoor pool, expansive sun decks, engaging courtyards and oversized private terraces. Learn more >>>


9. Xmbly

Assembly Row - Somerville

Projected Opening: TBD

Proposed four-phase, 1.9 million square foot development of a 9.4-acre Assembly Row parcel largely comprised of surface parking into a mixed-use complex with a hotel, lab, office, residential and retail uses. An existing 195,000 square foot office building (Block 24) would be retained. Phase 1 (Block 21): Five-story mixed-use building containing a 188-room hotel, 147 residential units and ground-floor retail. Phase 2 (Block 22): 20-story tower containing 14 stories and 480,000 square feet of Class A office/lab space above a six-story podium. Phase 3 (Block 23): Two 19-story, 1 million square foot office towers connected by a link. Phase 4 (Block 25): Five-story mixed-use building containing 72 residential units, 16,000 square feet of retail and a 100-car parking garage.  Learn more >>>


10. The Harlo

Fenway - Boston

Opened: December 2017

The Harlo is a brand new 17-story mixed-use building featuring 212 luxurious apartment residences and approximately 7,000 square feet of ground-floor retail space with premium dining options including Tatte Bakery, Oath Pizza and Cava Mediterranean Grill. Residences at The Harlo range from studios to three-bedrooms and feature elegant finishes including exposed concrete ceilings; quartz countertops; hardwood floors; oversized windows; and panoramic views of Fenway Park, the Charles River and Downtown Boston. Select residences feature loft floor plans, as well as private terraces. Learn more >>>


Boston's Green Line Extension Finally Underway
- Jun 26, 2018

Green Line Extension FINALLY Underway

National and local officials including U.S. Transportation Secretary Elaine Chao, Governor Charlie Baker and Somerville Mayor Joe Curtatone took part in the groundbreaking for the Green Line extension earlier this week.  The much anticipated project recently received a $225 million grant from the Federal Transit Administration to restart what appeared to be a stalled enterprise. This grant is the 2nd installment of a $996 million Full Funding Grant Agreement the FTA has signed with the MBTA to extend the Green line through Somerville into Medford.

Set to include seven new stations, replacement or rehab of eight bridges, and a new bike path, the nearly 5 miles of track will help cut down on daily vehicle travel by 25,728 miles and has also fostered transit oriented development throughout Somerville.  New projects like The Sphere in Ball Square and Union Square Apartments  have already opened in anticipation of this new service while other developers look for opportunities as the project progresses.

In total this expansion is expected to cost around $2.3 billion with hopes to have the service up and running by late 2021.





May's Top New-Construction Multifamily Buildings in Boston
- Jun 26, 2018

Below are BLDUP's most active* Boston-area new-construction multifamily buildings as of May 2018. All of these buildings are either approved,  under construction, or recently completed. Each building contains either apartments or condominiums; a number of buildings are mixed-use and contain retail space.

*Most active based on page traffic.

1. The Hub on Causeway

Bulfinch Triangle - Boston

Projected Opening: Late 2018 (Phase One)

The Hub on Causeway is a 1.87 million square foot mixed-use development featuring three towers with retail, office, hotel and residential uses. The Hub on Causeway will be constructed in three phases.Completion of Phase One of The Hub on Causeway is expected in late 2018. Phase Two will consist of a 38-story residential tower with approximately 440 units and a 10-story citizenM hotel tower with approximately 260 rooms. Phase Three will consist of a 21-story office tower totaling approximately 525,000 square feet. Learn more >>>


2. The Graphic

Charlestown

Projected Opening: TBD

The Graphic in Charlestown is an upcoming renovation of the existing Graphic Arts Building located in Sullivan Square steps to the MBTA Orange Line, and construction of a new four-story modular building on site. A total of approximately 171 residential apartments will be built at 32 Cambridge Street, including 46 apartments in the Graphic Arts Building and 125 in the new-construction building. Residential apartments at The Graphic will include studios, one-bedrooms, two-bedrooms and three-bedrooms. Learn more >>>


3. EchelonSeaport

Seaport District - Boston

Projected Opening: Late 2019

Echelon Seaport will be comprised of three mixed-use towers containing 1.3 million square-feet across 3.5-acres in the Seaport District. 717 residences and 125,000 square feet of retail and restaurant space will be built at EchelonSeaport. Two of the EchelonSeaport towers will contain 447 luxury condominium residences, and one tower will contain 270 luxury apartment residences. Resident amenities at EchelonSeaport will include two signature outdoor pools, an indoor pool, expansive sun decks, engaging courtyards and oversized private terraces. Learn more >>>


4. Xmbly

Assembly Row - Somerville

Projected Opening: TBD

Proposed four-phase, 1.9 million square foot development of a 9.4-acre Assembly Row parcel largely comprised of surface parking into a mixed-use complex with a hotel, lab, office, residential and retail uses. An existing 195,000 square foot office building (Block 24) would be retained. Phase 1 (Block 21): Five-story mixed-use building containing a 188-room hotel, 147 residential units and ground-floor retail. Phase 2 (Block 22): 20-story tower containing 14 stories and 480,000 square feet of Class A office/lab space above a six-story podium. Phase 3 (Block 23): Two 19-story, 1 million square foot office towers connected by a link. Phase 4 (Block 25): Five-story mixed-use building containing 72 residential units, 16,000 square feet of retail and a 100-car parking garage.  Learn more >>>


5. 115 Winthrop Square

Financial District - Boston

Projected Opening: 2022

115 Winthrop Square is a 53-story, 691-foot-tall tower that would replace a decrepit City-owned parking garage located in Winthrop Square in the heart of Downtown Boston. Across the $1.3 billion, 1.592-million-square-foot tower’s top 26 floors would be approximately 500 condominium residences, with approximately 750,000 square feet of commercial office space across 20 floors below. As part of the proposed project, 115,000 square feet of new affordable housing would be created, most likely in Boston’s Chinatown in collaboration with the Asian Community Development Corporation. Millennium would pay the City of Boston $166 million in order to acquire and develop the garage site. Learn more >>>


6. One Dalton

Back Bay - Boston

Projected Opening: 2018

One Dalton will consist of 712,500 square feet of residential, hotel and retail space. One Dalton's upper floors will contain 180 private luxury condominium residences. Underneath will be a Four Seasons luxury hotel with 215 rooms. Building amenities will include a lap pool, a fitness center, a salon with manicure, pedicure and hair styling services, a private yoga and pilates studio, a golf simulator room with a wet bar and a private theater room, and more. Learn more >>>


7. The Aberdeen

Brighton

Projected Opening: 2018


The Aberdeen is an upcoming mixed-use development featuring 40 luxurious condominium residences and 2,400 square feet of ground-floor retail. Residences will include 12 one-bedrooms, 25 two-bedrooms and 3 three-bedrooms. Resident amenities will include a fitness center and 40 on-site parking spaces. 5 residences will be designated affordable. One-bedrooms are starting in the $600K range, two-bedrooms priced in the $800K range and three-bedroom penthouses starting at $1.2 million. Learn more >>>


8. Proto

Kendall Square - Cambridge

Projected Opening: 2018

Proto is a 22-story mixed-use tower located in the heart of Kendall Square opening in Summer 2018 featuring approximately 280 apartment residences and 16,000 square feet of retail. Residences will range from micro units to two-bedrooms, with luxurious appointments such as selectively exposed concrete ceilings and columns, Thermofoil kitchen cabinets, Silestone countertops, stainless steel moveable islands in larger residences and available Ori Systems robotic furniture. 36 residences at Proto will be designated affordable. Learn more >>>


9. Jefferson at Malden Center

Malden Center - Malden

Projected Opening: 2019

Jefferson at Malden Center is a mixed-use development that will transform Malden Center, replacing the city's former government center with three new buildings oriented about a walkable, 21st century streetscape. Jefferson at Malden Center will feature 320 market-rate apartment residences, over 22,500 square feet of ground-floor retail and a 45,000-square-foot office space that will serve as Malden's new City Hall. Jefferson at Malden Center will reconnect Pleasant Street to Commercial and Florence Streets for the first time since the former City Hall's construction in the early 1970s, restoring Malden Center's walkable, pedestrian streetscape, improving access to the Malden Center train station and creating new public parking. Learn more >>>


10. Vita JP

Jamaica Plain - Boston

Projected Opening: 2018

Vita JP is an 82 condominium development that sit above first floor retail providing additional services to residents including a state-of-the-art Planet Fitness. The building will feature 1, 2, and 3-bedroom units. The pet-friendly residences are sleek and stylish with custom cabinetry, quartz countertops, sleek baths with glass shower enclosures, and wood floors throughout the main living areas. Garage parking, secure bike storage, and a spacious roof deck with grills and a fire pit make coming home coming to life. Learn more >>>































Green Line Extension: A catalyst for sustainable mixed-use development
- May 05, 2017

By Matthew M. Robare


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A map of the upcoming Green Line Extension.


After decades of delays and over a billion dollars worth of cost overruns, the Green Line Extension has $2.3 billion of necessary funding intact and can proceed with construction. Originally mandated as mitigation for increased emissions from the Big Dig, the Green Line Extension will provide Somerville and Medford with an important alternative to commuting by car, resulting in cleaner skies and enabling the development of sustainable, mixed-use developments. The Trump administration has shortlisted the Green Line Extension as an infrastructure project to prioritize, further emphasizing the Extension’s transformative potential. The Green Line Extension is currently expected to open in 2021.


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A Green Line trolley on the existing D Branch, which connects Newton and Brookline with Boston and Cambridge.


The first expansion of the rapid transit system since the Alewife extension of the Red Line opened in 1985, the Green Line Extension is planned in two branches from Lechmere Station in East Cambridge. One branch will follow the Fitchburg Line commuter rail tracks to Union Square in Somerville, while the other will follow the Lowell Line commuter rail tracks to Medford. In addition to Union Square’s stop at Prospect Street, stations are planned for East Somerville, Gilman Square, Magoun Square, Ball Square and Tufts University. A new Lechmere Station will also be built as part of the project. The Green Line Extension could one day extend further northward to Route 16/Mystic Valley Parkway.


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A preliminary rendering of the future Green Line stop at Tufts University, above which Tufts would construct a new building.


The government’s commitment to building the Green Line Extension has already resulted in increased land values along the future route, and a number of new development projects. According to the Metropolitan Area Planning Council, the Green Line Extension is expected to generate nearly 5,500 new residences and six million square feet of commercial space. The first major development to unveil along the Green Line Extension, Windsor at Maxwell’s Green, opened in 2012 and is located next to the future Magoun Square station. Windsor at Maxwell's Green features 184 luxury apartment residences and cost approximately $52 million to develop.


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Exterior view of Windsor at Maxwell’s Green.


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A rendering of the Magoun Square station, with Windsor at Maxwell’s Green at left.


Perhaps the most anticipated Green Line Extension stop is Union Square. Already the home of beloved restaurants such as Union Square Donuts and The Independent, and located a short distance to Cambridge’s eclectic Inman Square, the area has developed into something of a startup hub. Clean technology incubator Greentown Labs is already located in the neighborhood and is planning on expanding. According to Greentown CEO Emily Reichert, the Green Line Extension is crucial towards the Union Square startup ecosystem’s continued success; “to unlock the next great Massachusetts innovation corridor, we need the Green Line extension work to continue,” Reichert wrote in CommonWealth Magazine.


Another sign of Union Square’s startup scene is Bow Market, a former warehouse being redeveloped for pop-up retail and restaurant uses. Bow Market, approved by the City of Somerville last winter and anticipated to open this Fall, will feature over 30 small storefronts available for short-term leases, catering to new small businesses.


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An aerial rendering of Bow Market.


A wave of multi-family residential and retail development is also transforming Union Square. 70 Prospect Street, a 14-unit apartment building with ground-floor retail, is nearing completion steps from the future Union Square stop, and Columbia Court, a 35-unit residential building with ground-floor retail, is proposed nearby. The 35-unit Union Square Apartments and 30-unit 197 Union Square, both of which also include ground-floor retail, were recently completed.


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A rendering of 70 Prospect Street, a 14-unit building with ground-floor retail under construction in Union Square.


The Ball Square station, located a short walk away from Somerville’s popular Davis Square, has also seen a recent development boost. The Sphere, a 42-unit apartment building, will open this summer in the heart of Ball Square. Powder House, an innovative adaptive reuse of a former school into a sustainable mixed-use development featuring 48 apartments, 11,300 square feet of commercial space and over 69,000 square feet of open green space, was recently approved by the City of Somerville.


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A rendering of The Sphere Luxury Apartments in Medford, which will open this Summer in Ball Square.


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A rendering of the recently approved Powder House development.


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