Sometimes in the middle of the debate over 135 Wells Ave. Austin Street and similar projects in neighboring communities, the discussion will turn to:
But who is possibly going to want to live in those places and be able to afford the rents?
One answer is: Tech workers.
Or so this survey in the Boston Business Journal suggests.
The innovation economy is hot and, in many cases, the people who work in technology, bio-tech and other hot industries want a good place to live but don’t necessarily want a house with a yard and a garage. And they aren’t necessarily even married or have children yet.
With rising rents and growing congestion in Kendall Square and downtown Boston we know that more companies are looking to move to the inner suburbs — but only if their employees can find a nice places to live as well.
Interesting article:
http://www.bostonglobe.com/business/2013/08/20/harold-brown-still-buying-real-estate-but-for-first-time-not-sure-where-market-heading/ARjC0cJJNhvvYHMccWvxsJ/story.html
I noticed Arbor Point next to the Woodland T, and Avalon in Chestnut Hill and Newton Highlands are always leasing. If there are continuously vacancies in those 3 complexes, it doesn’t seem like there is a shortage of this type of housing for tech workers, or other professionals.
@Dave: I’d expect a certain amount of turnover in rental complexes, since people transfer or eventually buy houses. And unlike student housing, turnover in rentals aimed at professionals occurs year-round.
Back in the day, my then young husband to be lived in Somerville,
On the Cambridge line. Near work, cool nightclubs and music
And music shops and cool cafés. I cAnt picture
Wells Ave being like that. The cool part was having
The selection of having so much to do and being
In the middle of it. I don’t see Wells Ave like that.