Fueled by the strong employment growth, rising rents, and steady population increases, the Boston rental market is booming with new construction. Determined to capitalize on the growing demand for city living, developers have taken the challenge to deliver more housing units to the Hub with gusto in recent years.
No less than 7 major rental apartment communities – totaling more than 1,880 units – have been added to Boston’s rental inventory in 2015. The Troy Boston alone brought 378 rental units to the South End market. In 2014, as many as 9 developments of 50+ units were delivered to the city, comprising approximately 1,870 apartments, as Yardi Matrix data shows.
These new, sleek housing options seek to bring a new standard of living to the Hub with resort-style amenities, green living spaces, vibrant, live-work-play environments – and prices to match, naturally. The $185 million Troy Boston apartment building was built to achieve LEED Gold certification and strives to meet the demands of the most discerning renters with services such as personal yoga classes, nutrition courses and life coaching programs, daycare pick-ups and drop offs for pets, and cocktail mixing demonstrations. Alongside the residential component, Troy also includes 6,000 square feet of retail and restaurant space, as well as an above-ground parking garage with 180 spaces. But there’s a price for all that – no surprise there. Rents at the complex range from approx. $2,000 to $4,000 per month.
The need for affordable housing has not been left unattended in 2015, courtesy of the city’s inclusionary development policy. Exclusive communities like The Troy, Ink Block, and The Viridian all come with a number of units reserved for renters with low to moderate incomes. Bordering Chinatown and the Rose Kennedy Greenway, 66 Hudson delivered 95 one-, two-, and three-bedroom affordable units to Downtown Boston.
Join us as we count down the 7 largest rental developments entering the Boston market in 2015:
#7. 66 Hudson One Greenway : 95 rental units
Address: 66 Hudson Street, Boston, MA 02111
Rental types: 29 one-bedroom apartments, 50 two-bedroom apartments, 16 three-bedroom apartments
Property size: 75,475 sq.ft., 9 and 21-story buildings – first floor includes retail
Short description: Fantastic location with access to Boston’s best dining and nightlife hotspots: South End, Chinatown, and the Leather and Theater Districts. Great view of Boston Harbor, Downtown Boston. Green Building – LEED – Certified Silver. Fully Affordable. Children’s playroom, bicycle storage, and a community meeting room.
Photo credits: 66 Hudson One Greenway Official Website
#6. Van Ness: 172 rental units
Address: 1325 Boylston Street, Boston, MA 02215
Rental types: 48 studios, 98 one-bedroom apartments, 26 two-bedroom apartments
Property size: 122,986 sq.ft., 31-story building – first floor includes retail
Short description: A distinctive property boasting a prime location in Boston’s Fenway neighborhood, near the Emerald Necklace urban park. Breathtaking views of the scenic Charles River, Downtown Boston, and Fenway Park. Signature design, LEED Gold efficiency, smoke-free campus, luxury amenities.
Photo credits: Van Ness Official Website
#5. The Tower One Greenway: 217 rental units
Address: 99 Kneeland Street, Boston, MA 02111
Rental types: 24 studios, 118 one-bedroom apartments, 62 two-bedroom apartments, 13 three-bedroom apartments
Property size: 178,272 sq.ft., 9 and 21 story buildings – first floor includes retail
Short description: Modern green building – LEED Silver-Certified with a view of Boston Harbor and Downtown Boston. Open-plan layouts, movable kitchen islands, stainless appliances, high-end fixtures throughout, floor-to-ceiling glass.
Photo credits: The Tower One Greenway Official Website
Address: 300 Harrison Avenue, Boston, MA 02118
Rental types: 101 studios, 156 one-bedroom apartments, 51 two-bedroom apartments, 7 three-bedroom apartments
Property size: 234,675 sq.ft., 4, 6 and 7 story – first floor includes retail
Short description: Green building – LEED Gold-Certified with restaurants, shopping, city parks, and transportation within a 15-minute walk. Skyline pool and outdoor entertainment lounge. View of Downtown Boston. 41 units are affordable.
Photo credits: Ink Block Union Official Website
#3. The Viridian: 342 rental units
Address: 1282 Boylston Street, Boston, MA 02115
Rental types: 12 studios, 172 one-bedroom apartments, 64 two-bedroom apartments
Property size: 279,366 sq.ft., 9, 14 and 19 story – first floor includes retail
Short description: Smart green building – Projected to be LEED Gold with self-monitored utilities and smartphone-controlled lighting. Stunning, expansive views of Downtown Boston, the Charles River, the Back Bay Fens, Fenway Park, and Boston Harbor. 38 units are affordable.
Photo credits: The Viridian Official Facebook Page
#2. 100 Pier 4: 369 rental units
Address: 100 Pier 4 Blvd, Boston, MA 02210
Rental types: 36 studios, 229 one-bedroom apartments, 99 two-bedroom apartments. 5 three-bedroom apartments
Property size: 302,441 sq.ft., 21-story – first floor includes retail
Short description: Stylish building with rooftop terrace/pool and a view of Boston Harbor and Downtown Boston. High-end fitness center, third-floor sun deck with outdoor pool, business center, resident lounge, and underground parking.
Photo credits: 100 Pier 4 Official Website
#1. Troy Boston: 378 rental units
Address: 55 Traveler Street, Boston, MA 02118
Rental types: 78 studios, 216 one-bedroom apartments, 84 two-bedroom apartments
Property size: 238,221 sq.ft., 11 and 19-story buildings – first floor includes parking and retail
Short description: Green Building – LEED Gold – Certified – performing 28% more efficiently than a typical building. Rooftop terraces with barbecues and fire pits, rooftop lounge. Outdoor swimming pool and cabana deck. Yoga and fitness studio. Outdoor dog run area and dog wash. 38 units are affordable.
Photo credits: Troy Boston Official Website