| Newton MA News and Politics Blog| Newton MA News and Politics Blog| Newton MA News and Politics Blog

photo credits L-R: Erwin Chuk, New England Real Estate Journal, Scott Oran)

..let’s say 28 Austin Street rents (or sale prices) were at whatever levels you think they should be*.

What do you like, or wish were different, with the building, the floorplans, the amenities, the sustainability, and the parking**? How can conversions of other municipal parking lots into mixed use developments benefit from the lessons of Austin Street?  For example, how best would a development work at the Newton Centre triangle lot?

(t’s been a year and a half since 28 Austin opened, and the first updates six months later (here & here) elicited several comments that it was “too early to tell” how it’s turned out. As of today, 66 of 68 units are occupied.)

*What rents are: Two-thirds of the 68 units are market rate ($4.5k/month for 2-bedroom and $2.5k/month for 1-bedroom units) and one-third are “affordable”, i.e., for tenants making 80% of Area Median Income ($1.7k/month for 2-bedrroom and $1.5k/month for 1-bedroom units).

** underground garage parking is under-subscribed (22 of 90 vacant). Public parking at 124 spaces (35 less than the pre-existing parking spaces).”