Developers financed with cheap debt are seeking to profit from a growing work force
Looking for a good overall snapshot of what's going on in our local metro Boston real estate market? An article from today's Portland Press Herald does a great job of touching on the various parts of Boston real estate market puzzle.
The article mentions what's happening with:
- The Seaport District where developers are putting up high-end condominiums, offices and hotels
- Downtown Crossing developments like the redevelopment of the original Filene's department store
- The exodus from out-of-town suburban tech firms who are relocating into Boston
- The mayor's 20 year interest in developing Boston's waterfront
- New comercial speculative construction
- Worries that accelerating growth in areas like the Seaport will cause rents to increase and force comericial tenants back into the suburbs
- And the bottom-line that developers and lenders are bullish on Boston because they feel safe in our real estate market because of its historically strong and steady demand.