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Boston is terrible at this. It seems like it's the only thing they're building right now in the city's most popular neighborhoods (South End, South Boston, Seap
by acconrad 8y ago
Boston is terrible at this. It seems like it's the only thing they're building right now in the city's most popular neighborhoods (South End, South Boston, Seaport). All the other neighborhoods are just renos, renos, renos.
And yet occupancy rates are at around 50%, a good portion of the ones that are taken up are from foreign investors paying all cash, and like someone else mentioned, the workmanship is mediocre at best (I saw one go up literally right next to my house from the studs).
I just can't see why it's either luxury or low-income housing. The margins can't be that good if you have huge occupancy rates, and it's certainly subsidized if you're building for low-income housing...isn't there a better way in the middle?