Building Boom: Boston Developers Target Millennials, Tech-Savvy Professionals
Boston developers are going after Millennials with out-of-the box amenities like yoga studios and hip-hop parties on the pool deck. One developer has gone as far as to include a Twitter wall in the lobby of its apartment building that flashes trending topics, the Wall Street Journal reports.
Downtown Boston has undergone an astonishing change these past few years, and is booming with new developments as glassy designer condos and high-rise apartments are underway. Take the 60-story glass skyscraper Millennium Tower that will open in July in downtown Boston, for example. Amenities include a spa, a salon, a private theater and a resident only-restaurant. The tower is 95% leased and has sold 445 condos, including its 13k SF penthouse listed for $37.5M.
Between 2010 and 2014, Boston’s population has grown by 6%—twice the national rate.
“Starting in 2013, we’re running at about 13 or 14 million feet under construction at any given time,” Boston Redevelopment Authority director Brian Golden says. “The sheer mass of new development is overwhelmingly residential.” [WSJ]