[CLSTR]
< Back to situations

Monitor this situation.

[SITUATION] · [QUIET] · [BUSINESS]

2 clusters · 3 sources · 13 days · First seen · Last updated

Boston residential housing development

Overview

Residential development in Boston has transitioned from individual project proposals to city-wide fiscal interventions aimed at overcoming economic hurdles.

Initially, developers submitted specific plans for new housing in neighborhoods such as Allston and Dorchester. These included a 151-unit apartment complex on Cambridge Street and a 20-unit condominium complex near Ashmont station.

Following these developments, the administration of Mayor Michelle Wu proposed approximately $31.5 million in property tax abatements to restart four stalled housing projects in Charlestown, Allston, and Brighton. These projects, which have been delayed by rising construction costs and high interest rates, are expected to deliver 1,400 new units and create over 1,500 construction jobs if designated as ‘demonstration projects’ by the Boston Planning and Development Agency.

Entities

Allston · Boston · Dorchester · Boston Planning Department · Boston Planning and Development Agency

Timeline

  1. [BUSINESS] 3 sources
    Boston proposes $31.5M in tax breaks to restart stalled housing projects

    Boston officials are proposing $31.5 million in tax abatements for four stalled housing projects in Charlestown, Allston, and Brighton to jump-start the production of 1,400 new residential units.

  2. [BUSINESS] 2 sources
    Boston developers propose new residential projects in Allston and Dorchester

    Developers have proposed new residential projects in Boston, including a 151-unit apartment complex in Allston and a 20-unit condominium development near Ashmont in Dorchester.

Sources

bankerandtradesman.com · dotnews.com · wbur.org