As mentioned in today’s Globe, the grand East Pier Boston development has broken ground, on the East Boston waterfront.
I don’t have much to add to the article, except to say that I expect the project to be a great success, eventually.
Why eventually? Well, it’s a very large project, with over 550 units throughout seven buildings. So, it’s going to take some time to sell out. You’re not just marketing a building, you’re marketing an entire neighborhood. But, you’re selling at prices only found in other, more appealing neighborhoods.
The developers are hoping that the million-dollar views make up for the “rapidly-changing” neighborhood. They need everything to go just right, if they are going to be successful.
If you are in the market for a new home, I highly recommend setting up an appointment and taking a view. It’s a unique project from a well-established developer. You might surprise yourself.
Six years after winning rights to build there, Roseland Property Co. has begun construction on East Pier, a seven-building, 550-unit luxury condominium and apartment complex.
Four of the buildings will replace a huge warehouse on the pier, which juts out the length of two football fields into Boston Harbor, while the remaining three will go on the landside portion of the 13-acre site.
.[The $275 million project is made up of an array of] 5- and 7-story glass, metal, and masonry buildings. The three land-side buildings will be completed first, in about two years; the four pier buildings are scheduled to open in early 2010.
More: Change of scenery in East Boston – By Thomas C Palmer, Jr., The Boston Globe
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