Renovations / Conversions

BussesAin'tTrains said:
But if these luxury apartment buildings are going unfilled after YEARS, how is it not already saturated? And why don't these unfilled units go down in price?
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I don't think Nexis' analysis is accurate for apartments. Condo buildings do sometimes go unfilled for years. But apartment building managers lower rents, fill up the building, and the jack up the rents in subsequent years.
 
I walk by this building everyday on my way to work and I'm probably going to be alone in this but I'm actually going to miss seeing these rusting steel 6 over 6 windows when they get torn out.

VB8pSrU.jpg


Another small link to Old Boston sent to the scrapyard.
 
I've been thinking... Most of the buildings in the financial district are strictly office buildings. In a perfect world, I would like to see a move to convert these to mixed use buildings as large chunks open up.

One particular property comes to mind, 125 High St. With PwC set to move to the seaport, they'll be vacating a large chunk of that tower, so it would be a perfect place to start. With other buildings that might have floor by floor opening up, you could develop sort of a master plan, and set aside a chunk of floors to renovate as they open up, floor by floor as the leases expire.

I know there are lots of logistical and financial complications that I haven't completely thought out, but I believe it would benefit the area greatly. As it is now, the financial district is lifeless after business hours. I think introducing residents into the mix would turn it into a 24 hour neighborhood.
 
bobthebuilder said:
I've been thinking... Most of the buildings in the financial district are strictly office buildings. In a perfect world, I would like to see a move to convert these to mixed use buildings as large chunks open up.

One particular property comes to mind, 125 High St. With PwC set to move to the seaport, they'll be vacating a large chunk of that tower, so it would be a perfect place to start. With other buildings that might have floor by floor opening up, you could develop sort of a master plan, and set aside a chunk of floors to renovate as they open up, floor by floor as the leases expire.

I know there are lots of logistical and financial complications that I haven't completely thought out, but I believe it would benefit the area greatly. As it is now, the financial district is lifeless after business hours. I think introducing residents into the mix would turn it into a 24 hour neighborhood.
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The turn of the century building stock would make a mint as loft conversions. The mid-century and later buildings likely could not be converted as easily with the depth of their floorplates, but if the older buildings were it would balance the neighborhood nicely. As more brand new class A comes online in the seaport, and renovations of the 80s towers continue, I'm sure this will happen organically.

You can't really do it floor by floor as you suggested, though. The mechanical, life safety, and utility requirements are different for each occupancy, and you need separate elevator banks and lobbies for offices and residential. A CEO doesn't want to ride in an elevator next to a sweaty guy coming home from the gym, nor do the people living there want vendors, clients, cleaning crews, etc to have free reign to get onto their floor when they are not home.

Some sort of tax incentive program for residential conversions would help a lot. I would say it would be worth it to help solve the housing crunch, make the downtown more 24/7, and avoid demolition of older buildings in favor of new Class-A office space (like what may happen with Fidelity).
 
I am all for this kind of conversion but it's not going to change the character of the Financial District by itself. There needs to be a draw for outsiders to come there after business hours.
 
Matthew said:
I am all for this kind of conversion but it's not going to change the character of the Financial District by itself. There needs to be a draw for outsiders to come there after business hours.
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There is a surprising amount of foot traffic on bar nights between Government Center and the Seaport, which will only increase as more buildings and venues open up down there. As DTX grows demand will come from there as well. Boston's compactness lends itself nicely to this.
 
to echo what davem said,

there is a pretty good bar scene around the financial district, and I think bridging the gap between the common/dtx and, the waterfront would happen pretty easily.

i think the only thing keeping people from staying longer is the fact that no one really live in the area, so they are content to go for "happy hour" drinks and then head somewhere closer to home.

it would also help if some money was put into the T to keep it running till at least after the bars close, if not 24/7
 
Hearing through the grapevine that the operator of Quincy Market is actively trying to push out office tenants by not renewing leases etc. on the upper floor(s) in order to make room for a hotel of some sort.
 
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