Allston Development Gets $58M Financing After Fast Lease-Up
An Allston co-living project that’s 97 percent leased just 10 months after tenants started moving into its shared living spaces obtained $58 million in permanent financing.
An Allston co-living project that’s 97 percent leased just 10 months after tenants started moving into its shared living spaces obtained $58 million in permanent financing.
Boston’s newest co-living complex opened in January in Allston. And a prominent developer has figured out how to make it work. But city officials have put a pause on more housing developments like this.
Allston is a microcosm of Boston’s housing affordability dilemma, as developers target virtually every buildable parcel. But locals say the city isn’t approving the kinds of family-friendly units that would help stabilize the community.