New Construction News
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Specifically, single-family homes were built at a seasonally adjusted annual rate of 963,000, up 3.2% from 933,000 in August and up 8.6% from 887,000 a year earlier, according to government figures.
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A development proposed for Blue Hill Avenue in Mattapan will bring a 100% income-restricted development to the area.
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The Boston Planning & Development Agency has given the greenlight to a project that will bring 1,900 residential units within 21 buildings to the former Bayside Expo Center in Dorchester.
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Construction is set to begin on the development of a city-owned property on Talbot Avenue in Dorchester.
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A Boston-based design and architecture firm announced the completion of the city’s first internationally certified Passive House single-family home project.
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A developer has filed a letter of intent to redevelop a South Boston site to bring a multi-family mixed-use building to the neighborhood.
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Single-family home permits and completions, meanwhile, also rose, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
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Low inventory and high demand are buoying builder sentiment in the face of several headwinds.
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Fenway Corners will include eight mixed-use buildings with office space, labs, residences, retail and restaurants.
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Demand for newly built homes has remained strong as high interest rates keep many would-be sellers of existing homes off the market.
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The larger-than-expected increase comes as homebuilder sentiment rose for the sixth month in a row.
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A shortage of existing inventory continues to drive buyers to new construction.
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Single-family permits also posted a gain, indicating even more new homes are headed to today’s supply-constrained housing market.
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Homebuilder optimism was buoyed by continued shortages of new housing inventory, the National Association of Home Builders reported.
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Ashlar Park, developed by FoxRock Properties and managed by Bozzuto, is a five-building apartment community on 15 acres on the site of the former Quincy Medical Center.
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Oxford Properties Group and Pappas Enterprises Inc. filed a letter of intent with the Boston Planning & Development Agency on April 28 for the development at 300 W. First St. and 647B Summer St.