I had a feeling this was going to happen... (Boston: section 8, real estate market)

[mdovell]

What do you do with empty buildings in boston due to covid.....affordable housing..

https://www.bostonglobe.com/2020/12/...using-complex/

"Developers Beacon Communities and Mount Vernon Co. are set to file plans with the city Friday to convert the 13-story building at the corner of Clarendon and Stuart streets in the Back Bay into a 210-unit affordable housing development, with nearly half set aside as permanent supportive housing for formerly homeless people. They’ll keep current tenants — including the Snowden International School and the Lyric Stage theater — and will partner with the Pine Street Inn to provide counseling and other services for residents."

I'm not against expanding affordable housing. I mean the area does need it. But read more of the details.

"YW Boston, as the YWCA is now known, put the building on the market in the summer of 2019, hoping to capitalize on the hot real estate market to secure its financial future. By early this year, the nonprofit had a deal in place with a different developer, who had hoped to upgrade its 66-room hotel and convert some of its apartments into higher-end units. Then the pandemic hit, and financing dried up for hotel and luxury housing developments. The deal fell apart."

So if new hotel demand and luxury housing dropped that's one thing but to switch to this?

I have to wonder how many other non profits in Boston own significant properties that can be converted. Ironically YMCA kinda did the same in Worcester
https://www.masslive.com/worcester/2...partments.html

And in springfield
https://www.masslive.com/news/2016/1..._proposed.html

[msRB311]

I think it's too early to see what could happen with this or if more affordable housing units will be put in place.

I would think this would certainly affect real estate values in the area and most working professionals will not want to live near an affordable housing unit especially if they have kids for fears of what kinds of people their snowflakes could be exposed to. There are a lot of liberals who might brag about these days so I guess we'll see. I think it's fine. Boston proper, particularly back bay could use more affordable housing units. Places like, dorchester, hyde park, mattapan and roxbury have enough.

[bostongymjunkie]

The ones who bellow the loudest about their virtues are always the ones complaining NIMBY and other BS behind the scenes.

[BostonBornMassMade]

Originally Posted by mdovell

What do you do with empty buildings in boston due to covid.....affordable housing..

https://www.bostonglobe.com/2020/12/...using-complex/

"Developers Beacon Communities and Mount Vernon Co. are set to file plans with the city Friday to convert the 13-story building at the corner of Clarendon and Stuart streets in the Back Bay into a 210-unit affordable housing development, with nearly half set aside as permanent supportive housing for formerly homeless people. They’ll keep current tenants — including the Snowden International School and the Lyric Stage theater — and will partner with the Pine Street Inn to provide counseling and other services for residents."

I'm not against expanding affordable housing. I mean the area does need it. But read more of the details.

"YW Boston, as the YWCA is now known, put the building on the market in the summer of 2019, hoping to capitalize on the hot real estate market to secure its financial future. By early this year, the nonprofit had a deal in place with a different developer, who had hoped to upgrade its 66-room hotel and convert some of its apartments into higher-end units. Then the pandemic hit, and financing dried up for hotel and luxury housing developments. The deal fell apart."

So if new hotel demand and luxury housing dropped that's one thing but to switch to this?

I have to wonder how many other non profits in Boston own significant properties that can be converted. Ironically YMCA kinda did the same in Worcester
https://www.masslive.com/worcester/2...partments.html

And in springfield
https://www.masslive.com/news/2016/1..._proposed.html

I see literally nothing but positives here-whats the issue?

[BostonBornMassMade]

Originally Posted by msRB311

I think it's too early to see what could happen with this or if more affordable housing units will be put in place.

I would think this would certainly affect real estate values in the area and most working professionals will not want to live near an affordable housing unit especially if they have kids for fears of what kinds of people their snowflakes could be exposed to. There are a lot of liberals who might brag about these days so I guess we'll see. I think it's fine. Boston proper, particularly back bay could use more affordable housing units. Places like, dorchester, hyde park, mattapan and roxbury have enough.

Amen.

This is a super prosperous and vibrant city we can afford to give some real estate to 'the poors' in central areas once in a blue moon. We always talk about how Boston could sue less segregation and classism. This is part of that. In the grand scheme of things, this has no impact on anyone's prosperity and only helps folks who need it. Professional people will want to live there just not people who have kids which is the case in 85% of the city anyway.

And yea obviously its gonna be sometime before the city is as desirable as it was in Feb 2020. A lot that added value to city units has been lost permanently. Its better for the developer to keep a project moving forwards

[msRB311]

Originally Posted by BostonBornMassMade

I see literally nothing but positives here-whats the issue?

I actually see positives with this as well. Boston overall needs to be a more affordable place to live. No one should be throwing the majority of their income at rent.

[msRB311]

Originally Posted by BostonBornMassMade

Amen.

This is a super prosperous and vibrant city we can afford to give some real estate to 'the poors' in central areas once in a blue moon. We always talk about how Boston could sue less segregation and classism. This is part of that. In the grand scheme of things, this has no impact on anyone's prosperity and only helps folks who need it. Professional people will want to live there just not people who have kids which is the case in 85% of the city anyway.

And yea obviously its gonna be sometime before the city is as desirable as it was in Feb 2020. A lot that added value to city units has been lost permanently. Its better for the developer to keep a project moving forwards

Yay so glad I agree with someone here for a change.

I personally am so tired of the prices in boston proper/greater boston.

[BostonBornMassMade]

Originally Posted by msRB311

I actually see positives with this as well. Boston overall needs to be a more affordable place to live. No one should be throwing the majority of their income at rent.

It’s not like we’re lacking for high-end apartments or hotel rooms.

This new development will have a far greater and long lasting positive impact on our city’s overall health.

[bostongymjunkie]

I believe the building across the street, which houses the USPS, has some project-based section 8's.

[redplum33]

Originally Posted by BostonBornMassMade

I see literally nothing but positives here-whats the issue?

If you read the article, half of it will be set aside for homeless people.

It's essentially going to be a homeless shelter...in Back Bay. That's the issue.