Update: Boston luxury condo developments
BPDA approves two new residential developments in Brighton and South Boston
The Boston Planning & Development Agency has approved two new development projects that will bring 45 residential units to the Brighton and South Boston areas.
Brighton’s 38 Hichborn St. project will bring energy-efficient housing to the neighborhood with 24 rental units, three of which will be income-restricted. The transit-oriented project is also close to MBTA lines.
The mixed-use, five-story building will include a first floor with both commercial space and a common area. The rentals will be a mix of studios, one-bedroom and four-bedroom units. According to the BPDA filing, the project aims to be a zero net carbon building.
The project’s developer will also make a $15,000 contribution to the Boston Parks and Recreation Department for maintaining the nearby Penniman Road Play Area and donate more than $6,000 to Boston’s Bluebikes program.
Once complete, the property at 804 East Seventh St. will house 21 condominiums, three of which will be income-restricted. They will be a mix of two-bedroom and three-bedroom units.
The project’s developer will partner with the city of Boston to improve safety at the East Seventh and Columbia Road intersection, reconstruct the area’s sidewalks and plant new street trees, according to the filing.
The most recent updates on 45 Province Street, Boston W and the Clarendon:
1. The Boston W has 123 luxury condos of which 52 have sold. Otis & Ahearn plan to have 50% sold by the end of the year.
2. 45 Province Street has 137 luxury condos and has a little over 40% sold. The marketing team claims that they have 32 luxury condos under agreement. This is a big increase from 2010 when they only had 12 sales in total.
3. The Clarendon is 75% sold out. The marketing team plans to have 80% of their luxury condos sold by the end of the year.
Presently, according to LINK, there is a six month supply of Boston proper condos on the market priced $1,000,000 and above.