Across the Greater Boston region, average asking rents of $3.80 per square foot represent an 11 percent increase over those that opened in mid-2023, according to commercial brokerage Colliers.
Apartment vacancies rose to their highest levels in three years as developers delivered 8,700 units in eastern Massachusetts during the past year.
Greater Boston apartment rents are rising at an annual rate of 3 percent, and further increases are likely waiting in the wings, according to a new report on the multifamily market.
Developers of the newest apartment community at Plymouth’s Pinehills have begun preleasing 178 units in the Village Green town center of the 3,200-acre development.
Construction of a 114-unit apartment complex is under way in a joint venture between multifamily developers Helge Capital and Gansett Ventures.
Greater Boston may be on track to deliver over 5,000 new apartments in 2019, but it represents a 24 percent drop from last year, while the metro area’s population continues to grow.
Greater Boston’s position as one of the priciest rental markets in the U.S. appears secure, even as developers add more than 5,000 new apartments to the local inventory this year.
A new report from the Metropolitan Area Planning Council suggests that the supply of parking in a multifamily building may affect who chooses to live there, and that Boston-area developers are building too much parking overall.
A developer has applied to build a 62-unit apartment building near the corner of College and South East streets in Amherst.
Construction of Watertown’s newest multifamily development along the Arsenal Street corridor has completed with 75 percent of the units preleased.
The owner of a 16.36-acre Hudson industrial property that has struggled for years to reach full tenancy is proposing to redevelop the land into 196 apartments, including 64 in a historic mill building on the site.
A long-vacant, brick Worcester shoe factory could become 62 apartments under a plan from a Chelsea-based developer.
A developer has proposed building 75 apartments in Quincy, on top of three retail spaces and a brewery.
The Boston Planning & Development Agency Board of Directors approved development projects in neighborhoods across the city of Boston Thursday which will create an additional 73 residential units, including 10 income-restricted units.
A property on Revere Beach near Elliot Circle has sold for $4.12 million, clearing the way for a 60-unit apartment development proposed for the site.
