While generations of families have raised their children in Allston, in recent years, Allston has been viewed as a “student neighborhood” due to its young population, highly saturated rental market and close proximity to Harvard, Boston University and Boston College.
As development continues to boom beyond Boston’s inner core, areas like Allston are getting renewed attention as new retail, restaurants and developments come online, such as New Balance’s headquarters, the Boston Bruins’ practice facility and the future residences at Telford 180. Currently, more than a dozen projects are either underway or have been proposed for the neighborhood, targeting new residents beyond undergrads. Young professionals, couples and families are again attracted to Allston’s transit options, more affordable pricing and now the limited opportunities to buy a newly constructed home.
Creating new and unique homeownership opportunities for future generations to settle and raise families is extremely important, as underscored by a recent survey published in Curbed, which reported that 89.9 percent of respondents (from a pool of 6,000 surveys) indicated that they intend to buy a home eventually. The intention to buy was highest among Millennials between the ages of 20 and 29, 94.4 percent of whom stated they plan to buy a home, while only 70.2 percent of respondents between 50 and 59 years of age expressed the same sentiment. In the Boston area specifically, the survey found 94.9 percent of all respondents want to buy a home, yet only 56.6 percent can afford the down payment to do so.
To meet this demand, and for the opportunity to be part of the Allston community, The Davis Cos. (TDC) has started construction at Telford 180, a new 85-unit condominium project, to be delivered in fall 2017. The condominiums range from one- to three-bedroom residences, providing a new housing option intended for single working professionals, young families and couples. Ideally, this offering is just the first of many more thoughtfully designed developments aimed at recognizing the generational shift in this community to more permanent residents.
Within Boston’s existing portfolio of permanent urban residences, amenities are now an expectation rather than an added convenience. Telford 180 acknowledges this demand and offers an amenities package that includes a pet spa, a full gym, a community clubhouse with a lounge area that opens to an elevated landscaped courtyard with a fire pit and grilling area, along with a rowing room that overlooks the Charles River. One of the more exciting features will be the creation of a new 6,000 square foot park for residents and visitors that with landscape improvements will provide a direct link to the Charles River and green space along Soldiers Field Road.
The unique fabric of the area, its vibrant street scene and its many restaurants gives the Allston community a distinctive flavor. Just stroll down Telford Street in the direction of the Mass Pike, and you’ll find the Afghani restaurant Ariana, or the hip new Article 24. Telford 180 residents will enjoy a short walk to Smith Playground, Harvard Stadium, New Balance’s headquarters and the Boston Bruins’ practice facility along with the new Boston Landing commuter rail scheduled to open later this year.
Without a doubt, Allston is having a major development moment, emerging as an appealing live/work/play community. Telford 180 should serve as a model for additional development of its type that will further solidify Allston’s appeal and new identity as a vibrant home base for generations to come.
Stephen Davis is vice president of TDC Development Group.
