Your office rents in Boston are directly impacted by the distance to the nearest MBTA stop. Simply put, expect to pay more the closer you are.
Banker and Tradesman notes, “despite the departure of several large office tenants for the Financial District and Seaport, Back Bay still has Boston’s highest-priced office space. Buildings within a 5-minute walk of Hynes Convention Center station on the Green Line average $66.69 per square foot, partly reflecting the completion of Boston Properties’ 888 Boylston tower anchored by Natixis Global Asset Management.
You can read additional analysis on the impact of the MBTA on Boston office prices on B&T.
The Green Line extension appears to be moving back to the front page and is part of an infrastructure initiative put forward by the Trump administration.
According to a recent BBJ article, “the much-delayed MBTA Green Line extension to link Cambridge’s Alewife to Somerville and Medford is one of 50 infrastructure projects that President Trump’s transition team has identified as a priority, according to a document obtained by the Kansas City Star…The total cost of the MBTA’s 4.3-mile Green Line extension could be as much as $3 billion and result in 3,000 jobs, according to the document.”
The Green Line Extension (sometimes abbreviated as GLX) is an initiative to expand transit services in Greater Boston by extending the Massachusetts Bay Transportation Authority (MBTA) Green Linelight rail beyond its current northern terminus at Lechmere Station in Cambridge, Massachusetts. The 4.3-mile (6.9 km) extension is intended in order to improve mobility and regional access for residents in the densely populated municipalities of Somerville and Medford, two cities currently underserved by the MBTA relative to their population densities, commercial importance, and proximity to Boston.