Yesterday, the Boston Globe Opinion section had an interesting editorial on how one idea can solve two real estate problems. The first problem, the lack of student housing and the second, the stalled downtown crossing Filene’s project. The solution create a “multi-university graduate village”.
The following are excerpts for the Boston Globe: Boston’s brewing battle for student housing.
Bluestone, who issues an annual housing report card for Greater Boston, says the city needs a “multi-university graduate village’’ to house upwards of 1,200 graduate students. Graduate student housing is a rare commodity across metropolitan Boston, despite the presence of about 95,000 grad students. Given such demand, construction loans for such housing should be easier to secure than financing for commercial office space.
Bluestone sees Downtown Crossing, with its extensive public transit connections, as the perfect site for such housing. The stalled redevelopment project on the Filene’s block comes readily to Bluestone’s mind. As it turns out, the same idea has been on the mind of developer John B. Hynes III, who controls the controversial site.
I like this idea. But what about 45 Province Street and the Midtown neighborhood associations, will they back this? Without their support this project is dead in the water.