Why Downtown's On A Long-Term Growth Track
It was a full house at our Future of Downtown Boston event at the Boston Seaport Aloft, where our speakers stressed the resiliency of Downtown even in the face of future economic bumps in the road (and there are always going to be some).
Simple growth is part of the resiliency: the city will have at least 709,000 residents by 2030, an increase of 8% from the current population. Moreover, Millennials aren't the only demographic that needs housing; the city is bursting with empty nesters and families choosing an urban lifestyle. Snapped: Nixon Peabody partner Larry DiCara giving the event's opening remarks.
The HYM Investment Group's Tom O'Brien, one of our speakers, had an announcement to make: HYM and National Real Estate Advisors are calling the Government Center Garage redevelopment Bulfinch Crossing (pictured in a brand-new rendering). It's a fitting name, since it's within what has historically been known as the Bulfinch Triangle, an area originally planned by America’s first architect, Charles Bulfinch.
One of the essential first steps in the redevelopment is underway: The reconfiguration of a portion of the garage’s interior layout is under construction, while the garage remains open and operational. The picture above shows deconstruction of a ramp, as part of the garage traffic flow reconfiguration.
We will have more coverage of the Future of Downtown in our next newsletter.