This is a true shift on how our relationship with our car will change in the upcoming years. The concept that you will drive to work and your car will park itself amongst its peers, without the vast amount of vehicle circulation space that our current public garages demand, is real and is coming to a garage near you.
Researchers predict Americans will own fewer cars within the next 20 years as automated vehicles become ubiquitous on American roadways, and developers are already preparing for the shift in future projects.
Some developers in urban centers are cutting out garages altogether to make units more affordable. Others are turning to automated parking lifts, which reduce the square footage needed per car by about 80%. These automated lots cost less to construct and can be easily repurposed if parking demand falls.
Credit: Banker and Tradesman
The Seaport office footprint continues to grow upward. 55,000 square feet is being added to the top of 22 Boston Wharf Road.
According to Banker&Tradesman, “Bentall Kennedy, the real estate manager for landlord Multi-Employer Property Trust, is overseeing construction of two floors of open-format office space totaling 54,712 square feet. Another 55,000 square feet is available on the seventh and eighth floors in space previously occupied by TRO Boston and Red Thread…The space will be ready for tenants to begin interior fitouts as soon as this fall, said David Fitzgerald, a partner at CBRE/New England which is representing ownership.”
The full article is available on the Banker and Tradesman website, here.
Change could be coming to the Leather District in the form of development.
From Banker and Tradesman:
125 Lincoln St. includes office space on the top floor…The property, occupying an entire block in the transforming Leather District, could be suitable for a mixed-use redevelopment, said Matthew Pullen, an executive managing director for NGKF. Current zoning allows up to 223,880 square feet of development on the site.
The property is 100 percent leased and generates net operating income of $2 million. Leases have landlord termination options that would enable a redevelopment to begin as early as 2018, according to marketing materials.
Credit: Boston Globe
The Seaport has evolved as a live, work and play destination recent years and WS has an interesting spin on, Harbor Way.
From the Boston Globe:
Seaport Square is a 23-acre parcel that stretches from Northern Avenue to Summer Street and represents the last chance for the district to save itself from becoming a sea of generic office and condo buildings and a playground for those who can only afford it.
WS thinks Boston’s answer to Manhattan’s High Line is the Harbor Way, a tree-lined pedestrian promenade that will connect Summer Street to the water’s edge by Fan Pier. The thoroughfare will extend a third of a mile through Seaport Square and hook up with the HarborWalk in an attempt to finally make the Seaport District pedestrian friendly.
Credit: Built in Boston
Reflecting back before looking forward, Built in Boston notes, “in 2016, Boston’s tech sector flourished, with startups maturing alongside the city’s legacy industries while a steady trickle of venture capital poured into industries like edtech, food-tech, fintech, digital media and healthtech…”
Click through to Built in Boston article to view its list of 50 start-ups in Boston to watch in 2017.
Southie is looking to have a new office building at W. First Street totaling 266,000 square feet.
A recent BBJ article notes the South Boston building’s proposal includes “space for a retail, cafe or restaurant; a “convener” space that could host a co-working-style office; and an enclosed pedestrian connector that will connect West Second and West First streets in South Boston.”
More information is supplied in the complete article on the Boston Business Journal’s website, here.
Traffic in Boston’s Seaport continues to frustrate all that try to navigate the area. Truck traffic continues to increase, but the city is looking to mitigate the congestion with some innovative solutions.
Credit: Boston Herlad
From the Boston Herald:
Container and delivery trucks are rumbling through South Boston and the Seaport 6,000 times a day on average, according to a new Massport survey, rattling the high-priced loft and condo tenants
“A lot of folks moving to the Fort Point area, they weren’t necessarily expecting the volume of trucks,” he said. “That’s the polite way of putting it.”
The state has sought to address that, investing $75 million to build a freight corridor from the terminal to divert container trucks off of nearby West First Street.
Boston has been innovating for centuries. Its prowess, formulated with the race to build the first underground community powered by electricity, laid the groundwork for innovation to come.
As noted by PBS, “it was Boston — a city of so many firsts — that overcame a litany of engineering challenges, the greed-driven interests of businessmen, and the great fears of its citizenry to construct America’s first subway.”
You can read more on this historical feat on PBS.org.
Credit: Boston Globe
The evolution of a Seaport submarket through the lens of Boston Globe photographer David L. Ryan from 1982 to present.
According to the Boston Globe, “more than $1.5 billion worth of apartments, condos, storefronts, and office space is under construction in the Seaport right now, all within the span of a few blocks. Another $850 million in projects is set to break ground soon.”
Click over to view a the evolution of the Boston Seaport as captured by the Boston Globe.
Rood Deck, parking and a newly renovated lobby can all be found at 116 Huntington Avenue in Boston’s Back Bay. The 275,000-square-foot, 14-story building is situated directly across the street from 101 and 111 Huntington Avenue at the intersection of Ring Road and Huntington Avenue.
“We were drawn to its location in Boston’s most vibrant neighborhood and to the opportunity to reimagine it as a best-in-class office destination,” said Adam Popper, Columbia’s senior vice president for the Eastern region, in a statement. “We believe the penthouse space, with its wrap-around terraces, high ceilings, modern amenities and incredible views, will soon be recognized as one of Boston’s premier corporate environments, and we’re already seeing significant interest from prospects as we seek to fill the building’s remaining availability.”
Shawmut Design and Construction, the third-largest general contractor in Massachusetts, completed the $10 million renovation, which was designed by Dyer Brown. Work included upgrades to the building’s lobby, installing a glass facade and bronze panels along the building’s exterior, and adding close to 1,500 square feet of private outdoor terrace space for a future tenant for the 25,366-square-foot penthouse space.