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The Crane Count as of Today (Boston gained one yesterday!)
1. Boston Proper: 36 (9 CamXing, 2 Amazon, 2 Seaport Other, 1 Parcel P, 2 Winthrop, 2 SSHQ, 1 Haymarket, 1 Lagrange, 1 Raffles, 1 POSQ, 4 In South End, 1 BU, 1 Kenmore, 2 Allston, 2 Garden Garage, 1 by Broadway, 1 in Eastie, 1 at Hood Park, 1 Mass Mutual I forgot about)
*if we add in Cambridge and Somerville there are 47 cranes*
2. DC: ~40sh? Possibly more.
3. New York City: 14-16?
4. Philadelphia:.
That is definitely an undercount for Philly. By count of projects on a prominent urban development forum that shall remain nameless, there has to be at least 10 active crane projects in Center City/University City at the moment, with around that many imminent on other pending projects.
I think it's worth noting, though, that all cities are going to continue to go through a slowdown period that will become much more evident by next year, particularly as the glut of office and retail space continues to build in response to the pandemic.
Especially for the larger, mixed use projects that have the benefit of being modified to better reflect market conditions, it's very easy to see elongated timeliness to "play it safe."
Unfortunately, I think we're looking at relatively subdued economic growth until we're halfway through the 2020s.
I dunno construction has remained the same or even picked up pace in Boston and there’s till plans being filed to add more office space.
I think what you're seeing is a rush to meet existing demand before an inevitable slowdown hits. The real estate market is behaving in ways never seen before due to a truly severe shortage of residential properties for sale. The bidding wars and price increases resulting from that is really, really unsustainable.
In terms of office space, even high-performing Boston isn't immune to the impacts of the pandemic, and I'm afraid we're only in the early innings of regaining economic footing. There's definitely going to be more turbulence ahead: https://www.costar.com/article/20485...egative-demand
I dunno construction has remained the same or even picked up pace in Boston and there’s till plans being filed to add more office space.
Construction is up 43% this year in Boston and most of that increase is to get it done before an economic collapse. Which is inevitable, but when a project is fully financed... Get it built.
For Cambridge Crossing buildings, this is how they are broken up by:
Parcel J and K: Phillips HQ, A Law Firm, A design Firm and some biotech (100% leased), 2 Restaurants
Parcel G: Sanofi (100% Leased), Coffee Shop/Bakery
Parcel H: Half Sanofi, Half Bristol Myers (100% Leased), A Restaurant and Coffee Shop
Parcel E and F: Sage Therapeutics leased 250k sqft, thats like 70% Leased, and EF tours is supposively taking 30%, but they may build their own building. Im not too sure what they are doing for their 2nd building.
Parcel Q1: Retail, not named, but 100% Leased
Parcel U: Retail, 100% Leased
Parcel W: 3 Restaurants and a wedding venue. 100% Leased
The Pod: Brewery
Cambridge Crossing flew up all 9 buildings because they all got leased so fast.
Ok, so after recently visiting Philly, Boston over the last couple of months and having visited DC within the last year, I have to say thay Boston and DC feel like Larger metros than Philly. Boston feels the busiest of the 3. Downtown Boston feels like a maze that you can't get out of. Also, downtown combined Back Bay, and even Cambridge, with no break in urbanity, makes it feel as physically large as Philly city limits.
Boston is always gonna feel much larger than it is because of the dense traditional urban cities is unbroken. KodeBlue only mentions a very, very, small portion of it.
But yea they maze like structures of Boston jams a ton of buildings into a small space. and it makes working through the city more time consuming when traveling locally than one would initially expect. The varied topography and ocean side setting contribute to this as well.
Boston is always gonna feel much larger than it is because of the dense traditional urban cities is unbroken. KodeBlue only mentions a very, very, small portion of it.
But yea they maze like structures of Boston jams a ton of buildings into a small space. and it makes working through the city more time consuming when traveling locally than one would initially expect. The varied topography and ocean side setting contribute to this as well.
Yea, I left out some other areas like Beacon Hill, Charlestown, Seaport. There were also areas that I didn't get the chance to visit, that helps make the argument as well since there were other areas that I have yet to discover.
Ok, so after recently visiting Philly, Boston over the last couple of months and having visited DC within the last year, I have to say thay Boston and DC feel like Larger metros than Philly. Boston feels the busiest of the 3. Downtown Boston feels like a maze that you can't get out of. Also, downtown combined Back Bay, and even Cambridge, with no break in urbanity, makes it feel as physically large as Philly city limits.
Glad you got to come up and check it out KodeBlue. Stinks it wasn't a typical visit due to the circumstances, but come on back!!!
Glad you got to come up and check it out KodeBlue. Stinks it wasn't a typical visit due to the circumstances, but come on back!!!
Hope you had a good time.
I had a ball. The weather wasn't bad, thought it got a bit cold Saturday night. The restaurant than I went to only allowed people to sit inside if they had a reservation, so we ate on the balcony. I definitely want to visit again.
I've become a fan of Boston.
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