0 North Station Tower Complex: Construction Set to Begin Oct. 27

rendering of North Station tower

Credit: Boston Globe

North Station’s first new tower is set to break grown.  This will add 688,550 rentable square of office and retail.

From Banker & Tradesman:

“The first leg of the 1.9-million-square-foot North Station tower complex, one of Boston’s biggest mixed-use developments, is set to begin construction.
AvalonBay Communities will break ground Oct. 27 on Avalon North Station, a 38-story apartment tower located between the TD Garden and Nashua Street. The project was approved by city regulators in 2013. Plans call for 497 apartments in a 636,550-square-foot structure…The complex also will contain a 306-room hotel, 668,000 square feet of office space, restaurants and retail space including a supermarket. Developers received a $7.8-million, 15-year tax break from the administration of former Boston Mayor Thomas Menino.”

0 Is Boston Properties’ Recent Selling Activity Noteworthy?

Boston office building at 100 Federal Street

Credit: BBJ

Boston Properties is selling; should we be worried?  No, we are seeing may other institutional investors pouring dollars into the Boston Class A office market.

The Boston Business Journal offers some historical context on Boston Properties’ market activities, “A Bloomberg reporter recently noted that the last time this happened, the company cashed out of significant real estate holdings just before the 2008 crash…[however] In their Boston presentation to investors, Boston Properties executives sounded anything but alarmed about markets. An unofficial transcript made available by Bloomberg to subscribers quotes company leaders speaking effusively about the Cambridge and Waltham markets and positively, if in a more-reserved manner, about the Boston market for high-end tenants.”

The complete BBJ article is available, here.

0 Boston Parking: A Growing Challenge for Hub Commuters

boston garage closed

Credit: The Boston Globe

How long does it take for you to find a parking space or have you given up.  My father would say, as he combed the Financial District for the coveted spot, you have to believe.  Believe that there is a spot for you.  Well, for those that don’t follow that model, they have found that getting that spot is nearly unattainable.  I rely on the T and Uber, during prime time and use the believe method for early morning meetings.

A recent Boston Globe article indicates that the daily plight for Boston commuters is only worsening. “Boston’s current parking crunch is the product of conflicting ambitions. City planners placed parking caps on downtown and South Boston years ago, hoping to reduce pollution and encourage the use of public transportation, while mayors and developers pressed for business and residential expansion…James Gillooly, interim commissioner of the Boston Transportation Department, estimates about 3,000 spaces have been eliminated in the Seaport area over the past several years, as offices, condos and hotels have replaced open lots…’As this neighborhood grows,’ said Gillooly, “there will be spaces that used to be used by people in the financial district, who now have to come up with a new strategy of how to come and go from work.’’

More information on Boston’s transforming parking landscape is posted on The Boston Globe’s website.

0 New Office Tower Proposed for Boston Financial District

The skyline in Boston is getting some more airtime in Boston Financial District.  The parcel of late is the shuttered garage between Federal Street and Devonshire Street.

boston skyline

Credit: cognoscenti.wbur.org

According to Wbur.org, “entrepreneur Steve Belkin is again pushing a bold proposal for a new skyscraper in Boston’s Financial District. Somewhat more modest than previous designs, the still impressive building would stand 740 feet tall and feature a hotel, shopping venues, office space and, if permitted, 150 new condominiums.”

Details on the proposed tower in Boston’s Financial District are available on wbur.org.

0 Somerville Efforts to Become Carbon Neutral by 2050

Somerville green building

Credit: Boston Business Journal

The City of Somerville might be onto something here; it is efforting to become carbon neutral by 2050.  If all things are equal or at least close to equal, I believe local small-to-mid-sized companies would embrace the green initiative.  The challenge only really exists when being green adds measurable cost to the companies monthly overhead.

From the BBJ:

“‘Sustainability and taking care of the environment is a deeply held conviction of the community,’ said Daniel DeMaina, media manager for the city of Somerville, in an interview…The city will release a form called a Request for Information, for companies to propose their green-tech ideas at an event on Oct. 21. Companies have until Dec. 1 to submit their plans.”

0 Boston Landing Along the Mass Pike to House Bruins’ New Practice Rink

Bruins mixed use practice facility in Brighton

Credit: Boston Herald

Not just tech companies are looking for new space, the  Bruins are coming to Boston Landing along the Pike. Combined with a new commuter rail station, our city continues to expand and offer services that address our growth.

The Boston Herald notes, “the Boston Bruins’ new Hub practice rink stands to get a prime location along the Mass Pike in New Balance’s $500 million Boston Landing project…Pending permitting approvals, New Balance hopes to start construction on the 75,000-square-foot rink complex — and an adjacent nine-story office building with a ground-floor Bruins pro-shop and other retail — no later than November, much earlier than the original planned spring start date…The Bruins’ practice facility will have seating for about 650 spectators, a VIP area, function room and concessions. It also will include locker rooms, a lounge, a strength and conditioning/rapid shot area, training rooms, video and conference areas and offices for the Bruins.”

More information on the project, along with the Bruins’ practice facilities, are available on the Boston Herald.

0 Boston Innovation District Multiplies

Boston Mayor Walsh announces 'Neighborhood Innovation District Committee'

Credit: BBJ

Innovation is moving beyond the Innovation District according to Mayor Walsh.  This is a great example of taking what has worked and duplicating it in other communities.

The BBJ observed that “Mayor Martin J. Walsh announced on Friday the formation of a ‘Neighborhood Innovation District Committee’ with one purpose: to expand innovation within the city of Boston. A news release states the Neighborhood Innovation District Committee ‘will seek to identify policies, practices, and infrastructure improvements to support the development of innovation districts throughout the city.'”

Additional information on the Innovation District Committee are available on the Boston Business Journal.

0 Open Office Experiment in Boston Fosters Inclusion and Collaboration

open office space in Boston

Credit: Harvard Business Review/hbr.org

Looking for a new office?  Thinking you simple want private offices because that’s what you have always had?  Well, have a look at how that has changed for some companies.

According to the Harvard Business Review, a working ‘office experiment’ was carried out by The Bridgespan Group in its Back Bay offices, to determine what impact an open, shared workspace would have on employee collaboration and production. The HBR article includes the following:

At the end of our design lab, we handed off to our architects a “radical” plan which they built out over the next few months.

It included:

  • an open café, where staff bump into each other making coffee, or making sandwiches and catch up or take care of business
  • a “laboratory” space with tables, sofas and white boards at the heart of the office, where teams meet and discuss work previously done in closed conference rooms
  • a large, closed-off library space with lots of natural light that we call the “quiet car,” where people can work without interruption
  • several small comfortable seating clusters throughout the office for small-group conversations
  • a bank of small private rooms for people to use when they truly need privacy for meetings, phone calls, or individual work–but no private offices even for the most senior staff
  • sitting and standing work stations where people can park themselves day-to-day
  • glass-walled conference rooms so most meetings are seen by everyone, even if they aren’t heard
  • background noise masking, so that conversations in the open are heard as mild hubbub rather than distinct, distracting words
  • lockers in which staff can keep personal items

Six months in, we continue to be amazed at how differently we work in the new space and how much the spirit of our office has changed. We used to make appointments to see each other; now, we often just run into each other, and all kinds of new ideas emerge from these unplanned collisions of two or three or four people….Formal meetings are routinely held in the open areas, where it’s easy to bring in someone else on the spur of the moment—just because they’re passing nearby, or sitting in view.

0 Commuting to Boston: the reality of Mass. Pike Traffic

Mass Pike commute in to Boston

Credit: wikimedia.org

I meet with evolving, growing companies each day, looking to house their corporate office in Boston  Commutes are a factor of life in our city, and to-date, I have yet to see a company avoid Boston due to commutes.  Our infrastructure needs to be maintained and upgraded and yes it is frustrating, but I will continue to traverse the Pike, leaving earlier in the morning to beat the rush.

The BBJ offers the following for context:

“The toll-paying commuters lost two lanes last August (one each way) as much-needed repair began on the Commonwealth Avenue bridge. This is no minor inconvenience: The project, a $22 million job, is supposed to take two years….The Massachusetts Department of Transportation has been trying to soft-sell this traffic travesty, and they recently produced a heap of data using a real-time traffic tracking system indicating that the average inbound delay is about 10 minutes during rush hour. Although the data doesn’t jibe with most motorists’ experiences, even 10 extra minutes adds some 2,500 minutes a year to the average motorist’s commute, or 5,000 minutes (or 83 hours, or two full work weeks) over the life of the bridge repair project.”

0 Boston Office Motif is Open and Shared

modern office space in boston

Credit: The Boston Globe

The look and feel of today’s office space is dramatically different than what we saw just 10 years ago.  Collaborative is the new norm and private offices are a thing of the past.  Gone is the bowling alley of offices replaced by open spaces with exposed ceilings.

Drawing a parallel between the modern workspace and online social behavior, the Boston Globe notes, “in a fast-paced high-tech world where community seems to be more valued than privacy, the office partitions have come down in the name of collaboration and quick exchange…Offices are being designed to offer slightly cramped but open spaces to create “collision zones” for employees, where conversations get started and ideas get hatched. Status-based work areas have gotten the pink slip as companies envision cross-departmental, even cross-industry alliances. And why have a meeting around a gigantic table when you and a few co-workers can set up shop in a booth — not so different from one at Denny’s. Sound much different from your office? Just wait.”

The Boston Globe article is comprehensive and worthy of a read; it’s available on the Globe’s online real estate section.