One Canal (formerly Greenway Center) | Bullfinch Triangle | West End

From the North End Parks, you can start to get the feeling of how that area will be transformed into more of a "room" with this building complete and then the GC Garage tower and Haymarket Hotel added in. It's a nice effect.
 
Going back through the thread, construction (site prep) started more than 2yrs and 4months ago. I dont get what's taking so long, we've seen other projects finish much quicker! (can you tell I'm impatient?)
 
There's a pretty sweet looking roof deck render up on this building's website:

HOUn69X.jpg


The site also claims "Ready for Move-in May 2016".

Has anybody heard anything about future retail tenants? The building has 21,000 sf of retail space "designed to accommodate an urban grocery tenant with appropriately sized loading areas, storage, trash/recycling space and mechanical equipment" [link]. I know a Star Market is moving in to the future Garden development, but that still won't open for a couple of years. A Trader Joe's here would be awesome.
 
The same people who are renting at Ink Block, Troy, 33A street, etc. I keep expecting these buildings to not reached desired capacity but have consistently been proven wrong.

Though I would imagine they'll lure people in with 1 or 2 months free rent (not to mention no broker fee) in the initial months.
 
Reznor said:
The same people who are renting at Ink Block, Troy, 33A street, etc. I keep expecting these buildings to not reached desired capacity but have consistently been proven wrong.

Though I would imagine they'll lure people in with 1 or 2 months free rent (not to mention no broker fee) in the initial months.
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Amortized rent is a big deal. Most of these buildings are meant for people who live there a few years max. They are meant for single high income professionals who are gonna couple up and move to the suburbs eventually. Cities aren't doing enough to encourage families to plant roots but are instead just trying to cash in with the YUPy / monied millennial crowd. I think this will come to bite them in the ass in 5-10 years when a lot of these people do want to start families and have to move out. [Note: This goes for many expensive cities in the US, not just Boston]
 
vanshnookenraggen said:
Amortized rent is a big deal. Most of these buildings are meant for people who live there a few years max. They are meant for single high income professionals who are gonna couple up and move to the suburbs eventually. Cities aren't doing enough to encourage families to plant roots but are instead just trying to cash in with the YUPy / monied millennial crowd. I think this will come to bite them in the ass in 5-10 years when a lot of these people do want to start families and have to move out. [Note: This goes for many expensive cities in the US, not just Boston]
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I'm not so sure of the future suburban flight of millennials yet. I'm 23 and people that I know around the same age seem too want to still live in the city, even after having kids. The price point is more of the problem. For example, Some of the 3 bedrooms at One Canal are upwards of 11k a month.
 
vanshnookenraggen said:
Amortized rent is a big deal. Most of these buildings are meant for people who live there a few years max. They are meant for single high income professionals who are gonna couple up and move to the suburbs eventually. Cities aren't doing enough to encourage families to plant roots but are instead just trying to cash in with the YUPy / monied millennial crowd. I think this will come to bite them in the ass in 5-10 years when a lot of these people do want to start families and have to move out. [Note: This goes for many expensive cities in the US, not just Boston]
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Van -- at least in Boston there is a significant counter flow of the "Empty Nesters" in their sixties, giving up the suburban manse in Wellesley or Weston, with its extensive watering and mowing expenses, for a pied–à–terre downtown with access to culture, restaurants, etc.

It seems to be that they are making a major investment -- buying many of the luxe condos and probably they see it as their intended residence for the next decade plus, until the assisted living complex beckons
 
whighlander said:
Van -- at least in Boston there is a significant counter flow of the "Empty Nesters" in their sixties, giving up the suburban manse in Wellesley or Weston, with its extensive watering and mowing expenses, for a pied–à–terre downtown with access to culture, restaurants, etc.

It seems to be that they are making a major investment -- buying many of the luxe condos and probably they see it as their intended residence for the next decade plus, until the assisted living complex beckons
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Good point, I did forget this.
 
Retirees are actually a pretty significant group that gets almost completely overlooked when we're talking about the "Gentrification Wars." We assume it's all young people, yuppies, monied techies, etc. Then we assume we can solve the problem by building micro-units, co-habitation units, etc. That's all great, and may work for young people, but almost 50% of the incoming population putting pressure on the housing stock are retirees, and although they are looking to downsize from their suburban lots, they aren't going into micro-units, and this is a problem that's only going to get larger since we're only at the very beginning of the Baby Boomers reaching retirement age.

Barry Bluestone's last housing report card covered this in detail if anyone wants a deeper dive.

Not to derail this thread...
 
underground said:
Retirees are actually a pretty significant group that gets almost completely overlooked when we're talking about the "Gentrification Wars." We assume it's all young people, yuppies, monied techies, etc. Then we assume we can solve the problem by building micro-units, co-habitation units, etc. That's all great, and may work for young people, but almost 50% of the incoming population putting pressure on the housing stock are retirees, and although they are looking to downsize from their suburban lots, they aren't going into micro-units, and this is a problem that's only going to get larger since we're only at the very beginning of the Baby Boomers reaching retirement age.

Barry Bluestone's last housing report card covered this in detail if anyone wants a deeper dive.

Not to derail this thread...
Click to expand...

And they are not all retirees (yet). A lot are empty-nesters. Professional in their mid-late fifties or early sixties, still working, but choosing to downsize from the burbs. But correct, down size does not mean small unit in the city, just not Wellesley size.

I have a lot of friends who live at One Charles who are in exactly this group.
 
I'm not liking the rectangular protuberances stuck on the orange sides of the building.

Shoddy and temporary looking.
 
The only hope this has is a lot of weathering to add something interesting.
 
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