2017 Will Be Slower For The Seaport, But It's Just Preparation For Another Boom
The Seaport District wasn't originally envisioned as a fast-paced hub of development, but the real estate boom of the 2010s turned it into one. We chatted with Avision Young research analyst Tucker White, who tracks the many moving parts of the new neighborhood, about Seaport's future.
Bisnow: What's ahead for the Seaport in the next year?
Tucker: Next year will be a time for the Seaport to catch its breath, or at least bring it down to a steady jog.
Bisnow: But not a slowdown.
Tucker: No. Major residential and office completions on target for 2018 and 2019 will open the floodgates in regards to foot traffic, disposable income and commuting, making 2017 more of a preparatory year compared to this year and the last. In short, the stage will continue to be set for the main performance commencing in 2018, starring GE and a wave of construction deliveries.
Bisnow: What's the status of GE's move to Seaport?
Tucker: Three new buildings will make up the new headquarters, two of which be the former Necco Candy buildings that will be brick-and-beam workspace, along with the main headquarters. The GE campus will also welcome non-GE employees, providing incubator space for startups along with 1.5 acres of public space.
Bisnow: What about other build-to-suit efforts?
Tucker: Build-to-suits have continued to attract users to the area. Goodwin Procter relocated its headquarters to the newly finished, and now for sale, 100 Northern Ave, occupying 11 floors. The Boston Consulting Group is also making a move from its longtime home in the Boston core to 140 Northern Ave in early 2018.
Bisnow: Will Seaport's growth in the coming years include retail?
Tucker: Yes. Large office and residential growth naturally means more retail is on the way. WS Development leads the way in this area with plans for notable amenities, such as an Equinox Gym, Kings Bowling and an ICON movie theater in Seaport Square.