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Popular, attractive suburbs stretch out in radials heading south, west and north from Boston. Think of Hingham, Duxbury and Cohasset, or Brookline, Newton and Wellesley, and Cambridge, Somerville and Arlington. Now think of Chelsea, East Boston and Revere.

Historically, those communities have been ignored by developers because no one wanted to live there – but opinions are changing, and the data backs it up.

Condominiums in Revere in June sold in the mid- to high $200s and in Chelsea prices are north of $300,000. In East Boston, prices climbed toward $500,000, according to data from The Warren Group, publisher of Banker & Tradesman.

Developers have taken notice, people are moving in, and businesses are starting to follow.

 

Chelsea’s Comeback

Damian Szary grew up in Chelsea and is now a principal in Gate Residential, developers of One North of Boston at 100 Heard St. in Chelsea. He said in an email he thinks these communities are on a path of growth.

“Their close proximity to downtown Boston and Cambridge is better than many Boston neighborhoods – and it makes them obvious communities to benefit from capturing demand that can no longer afford the urban core,” Szary wrote.

One North isn’t like the apartments most people think of in Chelsea. It reflects the kinds of amenities high-earning Millennials want. There’s a spin studio, outdoor pools and gaming area, a media lounge, free bike storage, in-unit laundry, walk-in closets, an outdoor fire pit and grill, and

of course, it offers online payments and work orders. It’s also transit-oriented, just a few-minutes’ walk from a nearby commuter rail station and bus lines, which Millennials prefer.

“It is basically pushing a higher-earning demographic into these once overlooked communities, Szary wrote. “As a result, retailers, restaurants and other lifestyle amenities are beginning to follow suit. In addition, the demographic who we attract assigns no stigma to these communities in the way some of the older demographics does; they are either too young to remember or have moved here from outside of the Boston area. The opportunity to experience a dynamic urban lifestyle and to be part of the growth in these communities is really exciting for them.”

 

Screen Shot 2016-08-11 at 2.39.19 PMThe Revere Renaissance

Revere Mayor Brian Arrigo said he thinks the city has historically suffered from an image problem and is finally getting the spotlight it deserves.

“There’s a lot of value to be captured here,” Arrigo said. “It shows the importance of investment in public transit. It can be the place people come to. They realize there is value attached to being on the beach, the best beach in the Boston region. If you look at what’s being proposed at the Shaws site, Redgate is interested in doing a mixed-used development there. They’re also looking at Suffolk Downs and Wonderland. Revere is going to look a lot different in 10 to 15 years.”

Revere’s renaissance was a long time in the making, according to two developers currently working on projects across the street from the country’s first public beach. A master developer bought some of these beachfront properties and worked with the city to rezone them years ago, making it much easier and cleaner for today’s developers to buy parcels and get to work.

Upton and Partners is developing Ocean 650 overlooking the Atlantic just across the street from Revere Beach. Upton developed the Fleet Center and Faneuil Hall/Quincy Market and said this location was better for two reasons.

“One of the reasons I’m up there is that there’s been a lot of support from both the current and former mayor’s office,” CEO Walter “Budge” Upton said. “They welcome developers and don’t think we’re the enemy. That’s a nice thing. Plus, it’s nice to have job meetings in the beach.”

Next door, Covington Partners is developing the Vanguard, a 194-unit, all-rental building with 260 parking spaces just a few minutes’ walk from Wonderland Station. Dave Braswell, president of Covington Construction, said the city administration’s receptiveness to development was a major factor in deciding to build here.

“It’s hard to figure why it wasn’t happening earlier,” Braswell said. “A lot of it goes to city leadership. This project only helps the city. There’s plenty more opportunity there if they’ll [the city] let it happen. The time is right for them to grasp hold. You had a mayor who was a progressive and the new mayor is starting to understand that there are opportunities before them and they should take advantage.”

Braswell called the transit-oriented Vanguard one of the most dynamic projects he’s worked on in the last 30 years. About 70 percent of the 194 units are studios or one-bed, one-bath units; four units have three bedrooms and two bathrooms; the rest have two bedrooms and two bathrooms. Construction is complete and 65 percent of the units are leased.

“We were the first ones to begin as part of the redevelopment,” Braswell said. “My partner John Porta is very familiar with the Boston area and he felt like this thing was going to take off. He’s been proven right. It was the right time and the right place. Revere is poised for some great things to happen.”

Upton said when compared to Boston, the lower cost of land and development-friendly atmosphere help keep projects affordable for Millennials. Plus, who doesn’t want to live on the beach?

“I think it’s the rents,” said Upton. “There are so many young professionals who don’t want to pay $4,000 per month for rent downtown. The rental market is tight and expensive and Ocean 650 is price-driven and amenity-driven. It has parking, it’s close to public transit, and it’s on the beach.”

 

East Boston Eden

East Boston is home to the Portside at East Pier, another Millennial destination looking out onto Boston Harbor across from Charlestown and an easy walk to the Maverick Square. It’s in phase two of construction. In addition to the clean lines, modern appliances and sophisticated look Millennials want, when it’s complete the building will include a fitness center, a club room with a fireplace, Wi-Fi in the common areas, a full-time concierge and a conference room with Mac stations – and it’s pet-friendly.

Boston City Councilor Salvatore “Sal” Lamattina said it’s just the beginning, and he’s working on removing development restrictions from some waterfront properties to help make it happen.

“We’ve got another project on New Street; there’s Clippership Wharf, and others,” he said. “The waterfront is done. There are other properties in the port area, but they have restricted use and housing can’t be built on them. Hopefully we’ll get those properties out of the designated port area and build housing there, too. Water transportation to downtown is something I’m going to be working on.”

Now that Charlestown, South Boston and the North End are all full, developers are starting to notice East Boston. Lamattina said he used to beg developers to come to East Boston; now, they’re beating a path there.

“Developers are realizing that East Boston has a lot of offer; we have the best water views in the city, nice parks, we’re close to the airport, we have a beach and restaurants,” he said. “There are restaurants that hung in there and when new residents move into a neighborhood they do business in that neighborhood. It’s good for everybody.”

 

Next Up, Lynn?

So, will the wave of development crash on Lynn’s shores next?

“That very well could be – the real question is when,” Upton said. “These markets develop slowly. Lynn has public transit. It’s still on the boards in terms of design. The economy is so unpredictable right now and the politics of the county are so uncertain at the moment, but Lynn could be next.”

 

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Luxury Condos Clusters Move Up The North Shore

by Jim Morrison time to read: 5 min
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