The Globe impressively adds up all the recent construction projects announced or under way in Boston, and concludes we’re seeing an apartment construction boom.
The numbers back up the claim: 850 units now under construction. Another 295 as of Monday when developers start yet another project. Those numbers don’t include the approximate 1,000 housing units, mostly apartments, that were under way before this fall season.
The main driver of the trend: a 4.2 percent apartment vacancy rate in the city and among the highest rents in the country.
This is all great for the city, renters and the hard-hit construction industry in particular.
File under: Build, and They Will Come