315 on A | 315 A Street | Fort Point

statler said:
But where are the people who are filling these luxury condos coming from?

They can't all be kids moving from their parent's house looking for there first place or people that just landed a job in Boston. They must be vacating homes and apartment somewhere in or around the city. Maybe those unit were 'luxury' back in the day but now they can't compete with these new units and will be priced accordingly? I think that is how the theory goes.
Click to expand...

I'm moving in here from One Back Bay. Back Bay rent increases have made this an attractive proposition since the rent is significantly cheaper for larger units. The biggest downside is the downgrade in kitchen appliances and lack of gas. But on the upside, there's a Nest thermostat in each unit.
 
statler said:
But where are the people who are filling these luxury condos coming from?

They can't all be kids moving from their parent's house looking for there first place or people that just landed a job in Boston. They must be vacating homes and apartment somewhere in or around the city. Maybe those unit were 'luxury' back in the day but now they can't compete with these new units and will be priced accordingly? I think that is how the theory goes.
Click to expand...

Unfortunately, the theory you are proposing is too focused on one demographic.

Who are the people filling these luxury condos coming from?

- Foreign investors buying luxury housing as investments. They have a negative impact on housing prices in Boston as they do not use the house/condo as living space but as investments.

- Foreign buyers who are buying or renting these units out for their kids to attend a US university.

- Young professionals, as you have mentioned, who are moving out of their parents house to a place of their own.

- Wealthier families who like you said, are moving from and around the city. However, of course, this migration is not restricted to just those in and around the city but cities and towns further out. This benefits the cities and towns they are departing from, not necessarily metro Boston.

- Wealthier family who either buys the condo for vacationing purposes or renting them out.

In addition, older buildings don't necessarily lose their value. Condos, apartments, etc can always be renovated or refurbished or modernized to keep up with luxury apartments and condos prices. In addition, luxury condos and apartments tend to increase the surrounding land value (i.e. gentrify) because of the amenities it bring, whether they be displacing the poorer population, providing retails on the ground floor, or maintaining streets.
 
Correct - You can access it by hanging a right on Boston Wharf Road by Row 34 and walking under the Summer Street bridge. I'm not sure whether you can access from A Street or not, but haven't tried.
 
Cliff Clavin said:
I assume this Made in Fort Point store will be located in 315A?
Click to expand...

Yes, I believe it is relocating from elsewhere in Fort Point. It's basically a gallery for local artists, so it seems like it's a waste of retail space in a neighborhood somewhat lacking in basic retail amenities.
 
SBDweller said:
Yes, I believe it is relocating from elsewhere in Fort Point. It's basically a gallery for local artists, so it seems like it's a waste of retail space in a neighborhood somewhat lacking in basic retail amenities.
Click to expand...

Sounds interesting tho. I'll check it out.
 
It's the place that was next to Fluor correct? Over on Pittsburgh street.
 
I highly doubt a luxury building like 315 on A will lease their retail space to a 7 Eleven, even if the rent fit 7 Eleven's budget. It's all about catering to the demographic you want, not the demographic you have.
 
Great shots Tango, but this is the wrong thread for them.
 
15150928280_6fb5d49a5b_b.jpg
 
FYI, from last week.

Price comes out to $643,564 per unit or something like that.

Don't expect lower apartment rents, basically.

Developer sells Fort Point apartment tower for $130m
By Jack Newsham, Boston Globe

The developer of the 20-story apartment tower at 315 A Street has sold it for $130 million, according to land records.

Gerding Edlen, the Portland, Ore.-based developer that completed the tower in 2013, sold the building to an affiliate of Equity Residential, a large real estate investment trust based in Chicago. The sale, first reported by the Boston Business Journal, was recorded Friday in the Suffolk County Registry of Deeds ...
Click to expand...
 
You must log in or register to reply here.

Back
Top