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August 18, 2022

It's Apartment Move-In Season For Students In Boston, And Everything Is Taken

Hear How Boston Properties Is Achieving Net-Zero Carbon In Boston Sep. 27

Every year, hundreds of thousands of students come to Boston’s prestigious institutions to attend college. But this year, with the city’s apartment market experiencing all-time lows in vacancy and all-time highs in rents, many students and residents have been left scrambling for housing.

Apartment availability in Greater Boston was at 1.07% last week, and vacancy was at 0.5%, according to BostonPads’ real-time tracker. Rental units in the region have almost entirely filled up in recent months — availability was a little over 3% in June and close to 5% in April, a year after eclipsing 12% in spring 2021.

It's Apartment Move-In Season For Students In Boston, And Everything Is Taken

“Without a doubt, this year has felt like there’s more of a sense of urgency than I’ve noticed in years past,” said Chris Taylor, an apartment broker at Advantage Real Estate.Taylor works right near Boston University’s campus and said most of his clients are college…

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Loews Back Bay Hotel Sells For $117M, To Be Converted To Boston's First AKA Hotel

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The former Loews Boston Hotel has sold for $116.6M, according to property records.The buyer was Electra America Hospitality Group, a joint venture fund between Electra America and extended-stay company AKA. The firms plan a $20M rebrand and renovation of the 225-room, 73K SF hotel, according to a press release.EAHG was launched in February…

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As The Wealthy Return To Cities, Beach Resort Towns Are Left With A Housing Mess

In 2020, the pandemic precipitated a mass migration event of well-heeled New Yorkers to the swanky beach towns of the Hamptons on Long Island.

But the reality of in-person schooling and return-to-office mandates means the city expats of 2020 and 2021 are heading back to their normal lives this year, leaving behind a slew of problems — like a punishing labor shortage and exacerbated housing crisis — in their wake.

As The Wealthy Return To Cities, Beach Resort Towns Are Left With A Housing Mess

Without homes that are both available and affordable for a wide swath of the working population, locals who spoke to Bisnow in recent weeks said they are concerned that family businesses and public services in the small communities will be completely eroded.“Ultimately, something will break,” East Hampton Director of Housing Tom Ruhle told Bisnow.…

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Inflation Reduction Act Multiplies Tax Benefits For Building Green

Two pieces of the U.S. tax code that incentivize decarbonization were dramatically expanded with Tuesday's passage of the Inflation Reduction Act of 2022, making green building elements more financially attractive to developers and property owners.

The sweeping $430B legislation takes aim at a wide swath of President Joe Biden's domestic priorities, including curbing emissions in an effort to slow climate change. To that end, the new law tripled a tax credit and doubled a tax deduction meant to spur sustainable development.

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