Over 22,000 multifamily units were added near MBTA Rapid Transit stations since 2010
Since 2010, over 50,000 multifamily units have been added to metro Boston, and more than 40% were close to an MBTA station.
April 23, 2019
- Since 2010, over 50,000 multifamily units have been added to metro Boston, and more than 40% of those units, or 22,000 units, were within a 15-minute walk of an MBTA Rapid Transit station.
- The Silver Line saw the most development, with over 5,500 units added, driven by the flurry of development activity in the Seaport, South Boston, and South End neighborhoods. Of particular note are the areas around Court House station and the Herald Street station where over 2,000 and 900 units were added respectively.
- Nearly 4,900 units were added along the Green Line. Over 1,300 units were added to the area around Lechmere station. On the Orange Line, development was clustered around the new Assembly station (1,000 units) and Chinatown (1,000 units). On the Red Line, over 1,300 units were added near Alewife.
- Despite this activity, housing vacancy remains low and rents are on the rise indicating that transit-accessibility should remain a priority for developers and corporate occupiers alike.
Source: JLL Research
You may also like
Shifts in the way people live, work and shop in a post pandemic world have forever impacted the industrial real estate sector
Chestnut and Walnut Street retail visits drop precipitously in Philadelphia during COVID-19 pandemic
Pressure from distressed New York retailers has softened landlord sentiment, allowing for lease restructurings