Archive for the 'Investment' category

The Renaissance continues in Downtown Crossing, with $3.2 million in city funds slated for improvements in the area, including sidewalk repairs, new illuminated street signs, street repaving, and bike racks.

“It’s time for us to go back into the Downtown Crossing area and do some reinvestments there, because things are changing and new businesses keep wanting to come there,” Mayor Thomas M. Menino is quoted by the Globe.

In addition, developers in the area are expected to make $10 million in privately funded improvements, including a new entryway for the MBTA station at Franklin and Washington Streets.

Over the next four years, 1,200 housing units will be built in and around Downtown Crossing, drawing some 3,000 residents to the area.

In the same vein of revitalization, a total of ten new restaurants have recently opened or are on the horizon. Back Deck, a collaboration of Bradley Fredericks of Fajitas and Ritas fame and acclaimed chef Paul Sussman, opened earlier this summer on West Street.

407 Washington Street is a 7-story, 25,616 SF mixed-use development opportunity. 

This is an opportune time for investors to capitalize on Downtown Crossing. Boston Realty Advisors has been retained as the exclusive agent for the sale of 407 Washington Street, located in the heart of Downtown Crossing directly across from the Millennium Tower project. Although historically occupied by retail users, 407 Washington is fully permitted and approved for 8,000 SF of retail and 14 residential units. Its current unoccupied status allows for easy renovations. For more information about this offering, please visit 407Washington.com.

• Downtown Crossing to get $3.2m face lift (Boston Globe)
• Boston's Downtown Crossing to get $3.2M touch up (Boston Business Journal)

100 people attended Tuesday evening's Urban Apartment 2.0 panel presented by NAIOP Developing Leaders. Our own Chris Sower served as the moderator for the discussion that covered the current multifamily market and what is in store for the future.

Panelists included: Kevin Ahearn, President, Otis & Ahearn, Inc; Scott Dale, Vice President, Avalon Bay Communities, Inc.; and Patrick McMahon, Vice President Development, Northeast Region, Simpson Housing.

Exciting things are happening in Boston's multifamily market: over the next 24-48 months, an additional 4,500 apartment units are predicted, including Avalon Exeter and Atlantic Wharf. With demographics are trending toward the Gen Ys and empty nesters, smaller units are the norm to fit within a price point. Development amenities are incuding better space solutions, basketball courts, and outdoor space.

If you would like specifics about the apartment development climate, please email Chris Sower.

Earlier this year, renowned economist Karl E. Case wrote a summation of the housing crisis and the 'Great Recession' in the form of a poem called, 'Reflections on the Housing Market'.

Dr. Case is the Professor of Economics at Wellesley College, a Founding Partner of the real estate research firm Fiserv Case Shiller Weiss, Inc., and he also co-developed the Case-Shiller Home Price Index, which is the most widely referenced source of housing market prices in the U.S. today.  

Dr. Case was one of the economists that predicted the current collapse of the U.S. housing bubble.  In his poem below, he writes about the early indicators of the troubles to come, the crisis as it unfolded, the effects the collapse is still having today.

He closes the poem by acknowledging that markets will correct themselves in time, no matter what, and calls for politicians to work towards a solution to the problems created by the housing bubble collapse.       

Do you agree with Dr. Case's summation?  What do you think politicians can do to 'help find solutions'?  Share your thoughts in the comment section below.  

Reflections on the Housing Market
By Karl E. Case

"For the last few years, we have shed many tears
Living through a recession.
The economy's broke and it's not a joke,
When we talk of another depression.
Fifteen million without a job,
Foreclosures and banks that fail,
401K's became 201K's,
And everything's up for sale.

How can it be? What didn't we see
That led to all of this trouble?
There is little doubt that the proximal cause
Was a bursting housing bubble.
But other than that, who can we blame?
And what do they lament?
Millions of people contributed to
This hundred-year event."

Read the full poem by Chip Case.

The collapse of the housing bubble really emphasizes the importance of  investing in a home that has intrinsic value to you and to future buyers.  If you need help finding a Boston property you can feel confident in investing in, you can rely on the experience and knowledge of a Boston Realty Advisor to help you find the ideal Boston real estate to meet your needs.

READY FOR SOME GREAT ADVICE?

The Boston Lofts team of Manuel Davis & Paul Santucci is proud to host a home buying seminar on the evening of Wednesday, September 15th at our new offices at 745 Boylston Street, Boston at 6:00 PM.

As a first-time homebuyer, renter, investor or if you are just thinking about your possibilities in the future, we are here to help!

Topics of discussion will range from:
- Renting vs buying
- The buying process
- Home inspections
- Negotiating
- Current market conditions
- Mortgage options / financial strategies

Included in this forum will be a team of inspectors from Mt Vernon Inspectional Services, Wells Fargo mortgage consultants and attorneys to answer your specific inquiries with expert advice.

We will also open it up to you for anything you wish to discuss!

You can also contact us beforehand with any topics you'd like us to cover.

Our goal is to provide you with information to make the best purchasing decisions possible.

Food and Drinks will be served. We will begin at 6:00 PM
RSVP to Paul Santucci 617-694-0004 or paul@bostonlofts.com

More information about Paul & Manuel

We look forward to seeing you on the 15th!

Boston Realty Advisors is pleased to announce that Vivian Zottola has joined our team as a Residential Sales Associate, representing buyers and sellers.

Vivian has lived in Boston for over 20 years, giving her a great understanding of the city’s various neighborhoods and real estate market. She attended Suffolk University, receiving her undergraduate degree in Economics, and then received her graduate degree in Communications Management from Simmons College.  

•      Compare the rent vs. buy numbers
• Learn how to protect your interest
• Review the overall buying process
• Overview of Boston market trends
• Closing cost credit offer
• Complimentary pre-approval     

www.economist.com/specialreports/displayStory.cfm