Boston Construction at Highest Rate Since Housing Boom

by Mike Pugh


Boston currently has the most construction activity it has had since the housing boom, with some 70 developments under construction throughout the city.

According to Boston Redevelopment Authority (BRA) director Brian Golden, the Bay City has 14 million square feet in total development under construction in 2015. Boston’s year-to-date growth in construction sits at a healthy 30 percent, one of the best growth rates in the nation.

Highlights of Boston developments

BRA’s website features an interactive map listing all current developments at various phases, including:

  • 4236 Washington Street, a 43-unit, 42,000-square-foot building developed by Peregrine Group LLC in Roslindale. Cost: $11,000,000
  • The Four Corners-Upper Washington Project, a 35-unit, 49,758-square-foot building developed by Viet-AID, Inc in Dorchester. Cost: $21,374,078
  • 600 Harrison Avenue, a 160-unit, 193,300-square-foot building developed by New Atlantic Development in the South End. Cost: $62,000,000
  • 881-883 East Second Street, a 16-unit, 23,625-square-foot building developed by 881 City Point LLC in South Boston. Cost: $6,000,000
  • Fenway Triangle Mixed-Use Project, a 300-unit, 700,000-square-foot building developed by Samuels & Associates, Inc. in Fenway and Kenmore. Cost: $250,000,000
  • Nashua Street Residences, a 503-unit, 636,551-square-foot mixed-use development developed by Avalon Bay in Downtown Boston. Cost: $200,000,000

Trouble in paradise?

However, some are drawing different conclusions from the signs. Washington Trust, a Rhode Island community bank, has put a pause on making any more construction loans for apartment buildings in Boston, citing a low rate of return on projects in the region.

We recently reported on Boston as the healthiest housing market in the nation, according to WalletHub. With so much construction currently in development, it’s a question of sustainability, especially going into 2016.

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