A downtown Boston developer wants to change its current hotel project to residential, citing shifts in the hospitality industry and the impact it’s faced due to the COVID-19 pandemic.
“Caldwell is more than a place to live, it truly is an experience, and we designed the building to ensure a safe habitual lifestyle.” — Michael Procopio, vice president of development, Procopio Companies
After declining for years, the size of new single-family homes has begun to level off as consumers spend more time at home, a National Association of Home Builders analysis found.
The flight to the suburbs has become a growing preference for buyers, but renters are also finding respite in the outskirts of larger metro areas. That could help continue to drive new construction of apartments in suburbs across the country, according to a new report from Rent Cafe.
The gap between sales and construction reached a record high in 2020, which likely means a slowing down in sales and growth in construction in 2021, according to a year-end report by the National Association of Home Builders.
“Nothing sells like a shortage. We have underbuilt new housing relative to demand for a decade. Building will have to exceed household formation for a number of years to reduce the housing stock ‘debt’ we have accumulated.” — First American Deputy Chief Economist Odeta Kushi
The group announced a series of new developments in the works in Cambridge and Somerville and several that are already on the market
Luxury apartment community, Caldwell, a 10-story mid-rise at 34 Munroe Street, in Lynn, is now accepting residents on its second, third and fourth floors and pre-leasing its upper floors.
Amenities at The Cove include a pet grooming station, fitness room, media lounge, socially distant work-from-home areas and a resort-style pool.
Tilia will include 30 condos ranging from 750-1,900 square feet with 1-2 bedrooms for the single level homes and 3 bedrooms for the duplexes.