Archive for the 'Kenmore Square Real Estate' category

The Fenway, one of Boston's more notable areas, may soon be holding the title of the state's first Cultural District.

If given the support at today's November 14th, City council hearing, the Fenway Cultural Districy (FCD) will be able to apply for the designation; which is given to areas rich in cultural institutions.  The idea of Cultural districts were introduced during a state legislature vote last year as part of an economic development bill.  Due to the newness of the program, the Massachusetts Cultural Commission (MCC) has not deemed any other Boston areas as "Cultural Districts."

The hope is that marketing the Fenway neighborhood as a cultural district will bring about increased tourism, public improvement projects, and higher property values. Which in turn has promise to help boost the local economy by helping to keep businesses afloat and appearances up to par. 

Unfortunately, funds have not yet been set aside by the state to help this program get on its feet.  So for at least a year most of the funding will be done by local organizations and fundraising.  "It's in a dream phase...We'll hopefully see see a lot of concrete things come out of this (hearing)," said Kelly Brilliant, executive director of the Fenway Alliance. "We would really like to think of this as enhancing the entire neighborhood."

If supported by the local elected leaders, the application will hopefully be filed with the MCC by the end of the month, says Brilliant.

Click here to browse Fenway-area condos for sale.

Boston Realty Advisors (BRA) was featured in the July 15th, 2011 issue of The Real Reporter because they are currently handling two exciting listings in Back Bay that will prove to be great rehabilitation projects. 

493-497 Commonwealth Avenue

Formerly the JS Waterman Funeral Home, BRA's listing at 493-497 Commonwealth Avenue has been out of use for several years, and is finally going to be brought back to life.  It is a 19,500 building currently in "shell condition."  This makes the building a blank canvas.  It may possibly become a residential space, but the central location could make for great offices or other forms of commercial space.  The building is right on the edge of Kenmore square, which is a great area and will soon benefit from major improvements to Boston's Green Line.  Boston Realty Advisors has not announced any definite details of a deal, but whatever happens, Kenmore square will soon have a new great space.

463 Beacon Street

Just a few blocks away, this beautiful building is currently a 20-room lodging house offering nightly and weekly rates.  This property may stay as is, but according to BRA founder Jason Weissman, it is possible that the space may work as a single household.  He also told The Real Reporter that converting the space to condominiums could be a viable and possibly more valuable solution.  The building has 2,400 square feet of frontage on Beacon street, easy access to Massachusetts Avenue and a slew of prestigious Universities, and six parking spaces in the rear.

Interested in these listings or looking for more information on buying or renting real estate in the Boston area?  Contact Boston Realty Advisors today!

The Metro asked my thoughts on the retail and residential momentum in the Fenway area, here's the article:
 

A transformation has begun on the Fenway side of Boylston Street, and a proposed development that includes more residential and retail space at the old Howard Johnson Hotel site could make the area even more attractive to urban dwellers looking for a new spot in Boston to settle.

The proposal, which was submitted to the Boston Redevelopment Authority earlier this month, outlines the development of 1271 Boylston St., including 175,000 square feet of residential space, 170,000 square feet of hotel use and 4,000 square feet of retail space, according to a letter to the BRA from Weiner Ventures, the company planning the project. There would also be 280 underground parking spaces. Adam Weiner of Weiner Ventures could not be reached for comment on the project.

“When you have a ballpark of the home team actually in the city, as opposed to the suburbs, and you have as strong and die-hard a fan base as you can have with the Red Sox, the potential for a neighborhood to reinvent itself and build around the stadium is there,” says Paul Santucci, a real estate broker with Boston Lofts. “‘Great views of Fenway Park’ is a selling point and a viable marketing strategy here.” 
 

What else is new in the area?

The section of Boylston Street between Ipswich Street and Brookline Avenue has blossomed in recent years with the opening of Trilogy, a $225 million tower with more than 500 rental units and retail space, including West Elm, Starbucks and Burton’s Grill. A $125 million building at 1330 Boylston St. now housing Fenway Health Center, 215 apartments and additional retail space was also completed last year. And just around the corner is Landmark Center, with a movie theater, a health club and retail space. “We will see more residential momentum occur. There is a good amount of new construction, not just rehabbing of older buildings, so it gets a new, fresh look,” says Santucci.

 For More information about the residential real estate market near Fenway Park, contact me at paul@bostonlofts.com or 617-694-0004