East-Boston-OM

Growing Blue Line Corridor The direct access to public transportation means that The Bremen & Orleans East Boston Development Project along the Greenway will follow what is happening in line with other developments along the Blue Line corridor. Demand for luxury living in East Boston will continue as developers continue to add jobs and amenities to the area and residents look to find savings over the rapidly rising rents in downtown Boston. Residents of The Bremen & Orleans East Boston Development Project along the Greenway are only a 3-7 minute walk from the various parcels to the MBTA Blue Line Maverick Station. From there, it is 1 stop to Aquarium and 2 stops to State Street Station providing direct access to the Boston Waterfront, and the Financial District. The Airport is directly accessible off of the MBTA Blue Line or Route 1A. The MBTA Airport Station is an approximate 5-7 minute walk from The Bremen & Orleans East Boston Development Project along the Greenway. The recently purchased Suffolk Downs, a 161-acre site that could become one of Boston’s largest developments in recent years. The purchaser’s vision for the site is a large, mixed-use retail, entertainment/ dining and residential area, similar to Somerville’s Assembly Row.

The Blue Line Corridor has directly benefitted from continued urban migration in the Boston metro. The area’s population base increased by 7% from 2010-16, reaching more than 52,000 residents. This growth pattern is expected to continue in the future as the population along this corridor is set to grow by another 6.4% over the next five years. Not only is the population expanding, but it is also highly-educated. As of 2016, 38.5% of those 25 years or older living in the Blue Line Corridor held a Bachelor’s Degree or higher. This is only slightly below the statewide average of 40%. Young professionals looking for city living, proximity to public transit and more affordable rents are likely driving this trend. Though areas along the Blue Line have offered some pricing relief for apartment renters, asking rents have been climbing at a steady clip here as well; reaching $3.09/SF in 2017 . New construction, particularly in East Boston, is partially responsible for this trend. Newly built multifamily properties in Boston are commanding between $3-$4/SF , which represents a $1-$2/SF premium over product constructed before 2012.

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