The need for Class A offices and condos

[AdamBC]

Why is it that the only things being built these days is class 'A' space and high end condos/apartments. What's so wrong with building a building full of cheap office space or 1 and 2 bedroom simple apartments? A few of these could help bring down the prices of office and apartments to the point where companies located on 128 might consider moving downtown and more non-CEOs/non-pro-athletes could live in Boston.

Is there any requirement that says 'if you want a new building, it must have crazy prices per sq ft'? Couldn't some sanity in this area help bring suburban corporations and residents into the urban fabric of Boston?

 

[justin]

Given the scarcity of land and the red tape, could it be that gold-plated development simply offers best ROI?

 

[czsz]

In parts of outer New York, housing pressure has resulted in tons of cheap new construction townhouses and apartment buildings. In some cases, old streetcar suburbs are even being urbanized for the first time. I wonder if something like this will (or would) ever happen in, say, Dorchester, and, if not, why.

 

[daimio1]

I wonder if something like this will (or would) ever happen in, say, Dorchester, and, if not, why.

it should and has (back in the early 20th century).
i recommend a book called Streetcar Suburbs: The process of Growth in Boston by Sam Warner, Jr. It pretty much details the residential growth of boston from a socio-economical framework in the 1870's-early 1900's.

i imagine it isn't happening right now because of a lack of developer and property owner interest mixed with a fear of students/non families moving in to take advantage of cheap housing which will then lead to gentrification.

 

[czsz]

But housing costs in Boston are huge...why isn't there "developer and property owner interest"? And isn't it a bit counterintuitive to let costs surge because "students/non families" might "take advantage of cheap housing"?

I wonder if something more fundamental is at work, like local legal and financial barriers for small contractors and developers.

 

[AdamBC]

People are so worried about the condo market... build cheaper/affordable housing in a good location and they will fill.

While I do see how Class A space slowly becomes class B as the bar for A is raised, I can't see today's condos becoming much cheaper as new condos are built.