Credit: Boston Business Journal
Are you looking for an easier way to Boston’s Seaport? The ferry is coming! OK, it’s a trial, but at least it’s a start.
According to Banker and Tradesman, “the trial service – with ferries making the trip to Fan Pier in approximately 13 minutes – was originally projected to launch in fall 2017. Related Beal committed to pay $794,000 and a $500,000 grant from Massachusetts Department of Transportation will cover the rest of the dock project, [Rich McGuinness, deputy director for waterfront planning at the Boston Planning and Development Agency] said. The Massachusetts Convention Center Authority will oversee the trial service operation, which will be partially funded by corporate subsidies.”
Additional information is available on the BBJ.
Boston’s maritime operations will expand thanks in part to the expansion of the Panama Canal.
An article posted on the aimnet.org blog notes:
The Port of Boston is already benefitting from the expanded Canal. COSCO—China Ocean Shipping Company—is a longtime partner of the Port of Boston; the company recently committed to doubling the capacity of their ships calling on Boston from China. This will enable Massport’s Conley Terminal—the only full-service container terminal in New England—to handle significantly more volume. This translates into jobs and positive economic impact.
The U.S. Government has committed to funding a major dredging project for Boston Harbor, though the appropriation has not yet been finalized. In the meantime, some inner harbor dredging is taking place along with dock improvements. (Among the imports and exports moving through Conley Terminal are seafood, footwear, waste paper, scrap metal, furniture, beer and wine, and apparel.)
Seaplanes in Boston Harbor? Well this could be one of the new commuter services being embraced by the city leadership.
According to a Boston Business Journal report, “Boston’s top economic development official said Thursday that the city will launch a waterfront planning effort intended to bring more programming and public access to the harbor while also opening the potential for commercial seaplane service in the years ahead…A waterfront plan would likely join with Imagine Boston 2030, the city’s first comprehensive master plan in the past five decades. It also comes during a construction boom throughout Boston, particularly throughout the South Boston waterfront.
You can read the full BBJ article on its website.
The view of Boston from the water is one of the most photographed in the city. The South Boston industrial area does not get the same airtime as Rowes Wharf or the skyline of the Financial District. Rest assured, changes are coming as our city continues to expand.
The Boston Globe reports on “the biggest proposed changes that could emerge in the coming months: expanding what the city considers “marine” to cram more industrial uses on the remaining undeveloped sites. The updated plan could bring buildings that are taller or have bigger footprints. It could also provide for more lab space and new restaurants to serve the park’s estimated 3,500 workers. A second parking garage could be in the works, and improvements to make it easier for boats to pull up.”
This picture was taken of the former Anthony’s Pier 4
This picture was taken at the end of the North Jetty off of Fid Kennedy Avenue
Need a ride to the airport or a harbor island from the Financial District? Walk toward the waterfront at get within .25 mile of the water and open Uber. This is pilot program only from June 4th to June 15th.
Boston Magazine notes that “in order to access the UberBOAT option, users have to be within a quarter-mile of the harbor. When they are close enough, the app will then display an UberBOAT icon on the screen. From there, people can simply “place a pin” on a map , indicating where they want to be picked up near the docks, and hit the “Request” button. Soon after, a boat will appear. “Once your request has been accepted, the captain will give you a call to confirm your location and provide additional details on reaching the dock,” the company said.”
Jump over to Boston Magazine to read the complete article and to view an interactive map of the water taxi operation area.
One of our city’s most valued resources wasn’t always treated as such. Yes, our waterfront. Not only has this become a destination location for visitors, but now we have new residential communities and office buildings that are the new gateway to the water.
Bisnow offers a perspective on how the harbor used to be, and what it’s evolved into.
“[today], many of the region’s major developers and corporations…now see how valuable a beautiful waterfront can be. Rents are rising for offices and multifamily residences and commercial property sale values are hitting all-time highs.”
The full article, including a comparison of ‘old’ Boston Harbor to a “men’s locker room”, is available here.
Photo Credit: InnovationDistrict.org
Rents continue to rise, but with that comes landlords willing to build new buildings. Office rents have continued up quarter over quarter within the Seaport and Innovation District. However, according to an article in The Boston Globe, “accounting giant PricewaterhouseCoopers LLP is negotiating to occupy a 16-story building that would be built along Seaport Boulevard.”
The complete article is available to all readers on The Boston Globe website: PWHC to Lease Office Space in Innovation District
Related Commercial Real Estate Stats
Boston Office Space Pricing and Market Rates