October 19th, 2011
After this incredibly busy September rental season, one thing has become clear to brokers specializing in rentals – inventory is low. Or maybe, demand is just high. We did see a larger-than-average influx of students into Boston’s competitive rental market this year. And with a disconnect between market value and seller prices, with the resulting decline in sales inventory – purchasing a home in Boston is paradoxically more difficult these days. Making renting an apartment even more competitive.
That could change, in the future, however. One nice side effect of increased demand and insufficient supply is that people with real money sit up and take notice when hundreds of people flood the city, begging them to give them thousands of dollars, and they have to say “no”. If they were comfortable with that circumstance, they wouldn’t be as successful as they are, after all. And they’re taking action to ensure that they will not have to say “no” much longer.
So what are they doing?
Let’s start right next door to my office. This summer I had a great time finding parking on Brainerd Road every day, what with the wrecking equipment demolishing the run-down auto-shop building next door, followed by the usual progression of debris and soil on their way out, building materials on their way in, and cranes taking up the entire block as they lift steel beams into place. What’s it all for? New luxury highrise, here we come. Our contacts with the developer Mt. Vernon Company tell us we should expect roughly 100 high-quality units, one and two bedrooms. Based on the market and estimated quality of the units and building amenities, we expect these will come out for around $2000 for the one bedrooms and around $2600 for the two bedrooms. We’re hoping this project will be completed in time for September 2012 move-ins! Please let us know if you’d like to get on the waiting list!
Rendering of proposed building on 60-66 Brainerd Rd (Mount Vernon Co., Prellwitz Chilinski Assoc., BRA)
Mt. Vernon has also submitted a proposal for an additional 79 loft-style units to be built across the street from that project, displacing the warehouse that currently occupies that spot. The 1.2 acre site straddles the Allston-Brookline border, though the address of the property will be on Brainerd Road in Allston. The proposal is expected to be approved, and construction is estimated for completion in time for the September 2013 rental season.
On another front, Harvard University’s Allston Work Team recently gained approval for their two-stage plan for future developments in Allston. Stage one of the plan includes plans for new residences and retail outlets on Barry’s Corner, a new Health and Life Sciences center on Western Ave, and a desperately needed revamping of the existing Charlesview Apartments complex. The second stage will include development of Harvard’s new 36-acre Enterprise Research Campus on Allston Landing North, which may include a hotel and conference center reminiscent of Kendall Square. Harvard is currently in discussion with co-developers on plans to make housing available both to students and on the general market. Construction is planned to begin in 2013.
Artist rendering of the planned new Charlesview Residences complex (The Community Builders, Inc.)
The existing Charlesview Apartments complex on Barry’s Corner (which Harvard will take over for their project discussed above) will be replaced by a new sprawling Charlesview Residences complex being built on the former Brighton Mills Shopping Center in Allston. The existing 213 units on Barry’s Corner will be replaced by 340 units which will include a wide range of apartment sizes and types, from one bedroom flats to four bedroom townhouses. The redevelopment plan also includes new streets and parks, facilities for community use, commercial space, and an underground parking garage that will accomodate up to 243 vehicles. The design has been carefully created to avoid regurgitating the community objections towards the previous development in the 1970’s, which residents criticized as an eyesore. The development has been designed to blend seamlessly into the community and stimulate the neighborhood. The unusual project has attracted a variety of non-traditional corporate investors, including most notably Google, Inc.
Moving into town, there are also several urban luxury towers pushing up new spots in the cityscape. AvalonBay Communities started construction last month on tevalon Exeter, located on the Back Bay’s Exeter Street. Avalon Exeter will add 187 new luxury units to the Prudential Center complex in the form of a new 28-story glass tower right next to the Lenox Hotel. Units will carry a wide array of sizes and prices. The 32 studios will start at around $1800, the 52 one-bedrooms will start at $2500, and the 83 two bedrooms will start at $3500. There will also be 20 penthouse apartments whose prices are yet to be determined. AvalonBay Communities also recently submitted a proposal for a 29-story residential tower on Stuart Street in Boston, to provide 404 luxury apartments of varying sizes and roughly 200 indoor parking spaces.
Downtown, a variety of new projects are proposed. Hayward Place will add 265 new apartments across from the Paramount Theatre. Another as-yet-unnamed development on Hudson Street will bring 345 units to Chinatown. Chinatown may also see another 381 units in the new Kensington Place development on Washington Street. And the Charles River Park complex plans to add another 500 units near the Boston Garden.
These new developments are exciting, especially amidst the miasma of a stagnant economy. With high jobless rates, new construction projects should find zoning and permit agencies friendly and accommodating, and with the rental season we’ve just seen, we can expect construction contracts to treat time as a valuable commodity. The real estate market is about to be injected with a large quantity of interesting new listings on the high end of the spectrum – we can’t wait to see what that does to the market as a whole!
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June 25th, 2010
U.S. Congressional Candidate Sean Bielat with Proper Realty Group Broker Alex Steinberg
From the future Congressman’s website:
It’s time for a change–just look at the current state of the economy, or our political leadership’s focus on redistributing wealth rather than creating prosperity, or the idea that government should be continually expanded to address any and all problems. Too often our elected officials put representation of an ideology ahead of representation of the people. We need legislators who embrace their responsibilities under the Constitution and represent the values and needs of their constituents. Our Congress should be of the people and for the people. We need new leadership in Congress and a new voice for Massachusetts.
For too long, voters in Massachusetts’ 4th Congressional District have lacked real choices in November. Incumbent politicians have enormous advantages over challengers and often the result is that incumbents face no challenge or only weak competition. Representative Barney Frank has spent almost 30 years in Congress and it’s time for us to really consider whether he continues to represent our views. Many believe that his positions are far outside the mainstream and, most importantly, he is out of touch with the people of Massachusetts.
SEAN IS A MARINE, BUSINESSMAN, AND LEADER. BE SURE TO CAST A PROPER VOTE IN NOVEMBER!!
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June 15th, 2010
PROPER REALTY GROUP WISHES THE BOSTON CELTICS THE BEST OF LUCK AS THEY SEEK TO CLOSE OUT THE NBA FINALS IN LOS ANGELES FOR THEIR RECORD 18TH NBA CHAMPIONSHIP!!
Live Proper in 2010.
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March 8th, 2010
Aerosmith Drummer and founding member Joey Kramer has sold his coastal compound. The property sold for $2.7 million, 27% less than the property’s most recent asking price and almost half of the original $5 million asking price when it first went on the market in July of 2008.
The property over looks the Atlantic and is rested on 17 acres. It includes a 6,200 square foot home, a recording studio, a carriage home, as well as 3 garages.
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March 4th, 2010
Earlier today House Speaker Robert A. DeLeo outlined his plan to introduce a bill allowing two resort style casinos as well as limited slot machines at race tracks in Massachusetts. This is similar, but at least not yet quite as heated, debate that is happening currently in the South. Alabama is trying to legalize electronic bingo and casinos to hopefully recoup some of the money lost to neighboring lottery and casino friendly states.
Proponents of legalized gambling cite loss of income to neighboring states, job creation, and a way to finance better school system through taxation of these cash cows.
Those who are against legalized gambling mostly refer to the moral reasons for keeping casinos out as well as how casinos can tempt low income residents to spend the little money they have in a way that many consider irresponsible.
The Boston Globe has reported on Deleo’s bid to legalize slot machines and casinos. The Globe also mentions Governor Patrick’s lack of a stance as he is up for reelection and many of his supporters oppose the idea of legalized gambling.
What do you think? Can legalized gambling help with the aptly dubbed “blue collar depression”? Are the moral sacrifices worth the potential job creation and greatly increased revenue to the state? Let us know!
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January 21st, 2010
As we mentioned before, it is never too early to start looking for your next apartment. The sooner you start looking, the better the chances you are going to find that perfect place for you to call home for at least the next year. Take a look at the following places and give Proper Realty Group a call today to schedule a showing!
Read the rest of this entry »
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January 19th, 2010
Living in Kenmore Square is one of the most convenient-to-everything places to live in Boston. You’re close to campus if you’re a student, a short ride to downtown, and near the Mass Ave Bridge to Cambridge. There is no shortage of bars, restaurants, and things to do in and around Kenmore Square. Make sure to run by these spots if you’re new to the area.
Read the rest of this entry »
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January 15th, 2010
Students (well not JUST students), you’re about 7 and a half months away from your next move. Although that may seem like a long time, apartments in and around Boston are already renting! September first is approaching and it will be here before you know it. Proper Realty Group would like to take a few minutes to offer a few helpful tips to help with this process (Don’t worry, we’ll refresh your memory closer to the actual move).
Start your search EARLY!
Do not think for a second it’s too early. The most desirable apartments are the first to go, and they go immediately. If you have an eye on a location or even a particular building CALL US TODAY! We will have all of the proper updates and your next move will be into a place you love, not whatever was left over.
Prepare EARLY!
Is your lease ending before the next one starts? Do you have a place to put all of your stuff. It’s very likely all of the storage units that are convenient will be full and will fill up quick. If you know when you’re moving in and out make sure you reserve your storage unit as soon as possible!
Allston – www.yellowbrickselfstorage.com
Brighton – www.extraspace.com
Boston – www.doorstepstorage.com
Boston College – www.BrightonSelfStorage.com
Northeastern – www.bostonselfstorage.com
How are you planning to move?
The great majority of people in Boston do not have cars, let alone a truck big enough to move your bed, dresser, giant TV, etc. To an even greater degree moving trucks and movers fill up FAST.
www.gopenske.com
www.uhaul.com
www.budget.com
Call Cable and or Internet Provider
It can be relatively annoying, but call your cable/internet service provider and ask about specials for current and old customers. Often times it is much more advantageous to consumers to disconnect and reconnect (very easy with roommates) as a “new customer”, or let a competitor know you are thinking of changing and see what offers are available then.
Retail Me Not
Retailmenot.com is probably one of the best websites when it comes to most everything. I personally saved about $200 on a budget rental truck when first moving to Boston. It’s full of coupons and deals for stores with an online presence. This is anything from Budget Rentals to PapaJohns.com. Great deals to be had!
What to do now?
If you’re interested in starting your search send us an E-mail! info@properrealtygroup.com
Any questions, comments, concerns let us know, we’re here to help!
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December 4th, 2009
One of the great things about living in Boston is that there is no shortage of things to do. Here’s a mix of a few different things to do this weekend in Boston!
Friday!
Mint Night Life is putting on Northeastern Night at The Splash Ultra Lounge. No cover for Northeastern students and alumni. Here’s the information directly from their facebook page :
THIS NIGHT IS DEDICATED TO ALL YOU NORTHEASTERN HUSKIES! CURRENT STUDENTS AND ALUMS (WITH COLLEGE ID) WILL BOTH BE TREATED TO A NO COVER CHARGE EVENING TO THE FINEST OF BOSTON’S INTERNATIONAL FRIDAY NIGHT HOT SPOT: FRESH FRIDAYS AT SPLASH ULTRA LOUNGE! NO GUESTLIST REQUIRED. FOR ALL YOU NON-HUSKIES, YOU’LL BE GLAD TO KNOW THAT ALL FRESH FRIDAY EVENTS ARE NOW FREE ON GUESTLIST BY MIDNIGHT. GET THE CHAMPAGNE FLOWING AND ENJOY AN AMAZING NIGHT OUT WITH YOUR CLOSEST NORTHEASTERN BUDDIES!
Fresh Fridays at Splash Ultra Lounge
150 Kneeland St | Boston MA 02111
This is a 21+ Event, Strictly Upscale Attire Only
Complimentary Admission with Guestlist by 12am
Featuring DJ Jay Michaels & DJ Wild Bill from Kiss 108
spinnin’ the hottest of Dance, HipHop, and Top40!
Mobile Guestlist: http://m.mintnightlife.com
Saturday!
Boston Redevelopment Authority and the Boston Public Market have teamed up present the first Annual Downtown Crossing Holiday Market, on Summer Street in Downtown Crossing, Boston. The holiday market will have a diverse selection from artists selling: handcrafted jewelry, wear ables, clay, blown glass, home furnishings, paintings, photography, pet items, Christmas ornaments and specialty food items: homemade honey, baked goods, breads, organic veg. & fruits, meats, cheeses, spreads hummus etc.Each day there will be LIVE performers from 12-2pm & 5-7pm.
Sunday!
Wye Oak, a Baltimore-based indie rock duo comprised of Jenn Wasner (guitar, vocals) and Andy Stack (drums, keyboards, vocals), is a blend of dark Americana and shimmering, emotive rock. Their most recent album, released by revered indie label Merge, reflects their burgeoning confidence while maintaining their signature intimacy and emotional directness.
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December 1st, 2009
Coolidge Corner has everything you need, all within walking distance. The section of Brookline known as Coolidge Corner is centered around the corner of Beacon Street and Harvard street. There are plenty of boutique shops, eateries, and entertainment throughout the area. Located on the Green “C” Line Coolidge Corner is very convenient to public transportation to and from the city
Continue reading to learn more about Cooldige Corner’s many attractions Read the rest of this entry »
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