Major construction plans set to change the face of Allston-Brighton
When you decide to relocate to New England, and you evaluate the houses for sale in Boston, make sure you don't dismiss the Allston-Brighton area too quickly. According to Wicked Local, the Allston-Brighton area is going through a big turnaround, and while both neighborhoods are known for their single-story warehousing and high vacancy rates, everything is set to change in the near future.
Recently, Boston's construction community and real estate business sector came together to speak in depth on local projects occurring in the Allston-Brighton area.
"It's very exciting because we've all heard about the Seaport area (and obviously that's a very big boom area), and Back Bay has been very successful as far as leasing, but Boston is a very diverse, geographic area, and some of these gains are now coming to other areas like Allston," CEO of NAIOP Massachusetts David I. Begelfer told Wicked Local.
The panel, which was moderated by Lawrence Kaplan of Goodwin Procter LLP, discussed several projects in the area, and two notable ventures are below.
The Boston Development Group has a project in Cleveland Circle that, according to Chief Operating Officer John Meunier, is meant to revamp the area by building new office and retail space, apartments and a hotel. Meunier says the project is very unique because approximately 20 percent of the venture falls in the town of Brookline, and the remaining portion is in Brighton, so the development must be approved and overlooked by both towns.
When the project is complete, more homebuyers, business owners and tourists will be attracted to Cleveland Circle.
The Allston Green District
A few blocks away from Cleveland Circle, The Mount Vernon Company is developing The Allston Green District, a string of apartment complexes between Commonwealth Avenue, Brainerd Road, Griggs and Redford Streets, the source reports.
The project will further develop Allston and bring new properties to the region, which is viewed by many prospective buyers as being full of older homes and college-like living environments.
Whether buyers want to purchase newly built homes or invest in fixer-uppers, new construction projects look to bring new life to the area, and more developments are good for the entire city. Take a look at what is happening in Allston and Brighton when you search for your next home.