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I live in that neighborhood, and as the article says it looked like it was mostly a ton of turnover. There's a lot of it on Newbury, which is a problem in its o
by achileas 8y ago
I live in that neighborhood, and as the article says it looked like it was mostly a ton of turnover. There's a lot of it on Newbury, which is a problem in its own right, and the places that remain are largely regional and national chains. The costs are also driving people to move to other neighborhood and towns, with Eastie, Somerville, and Southie growing much more than the traditionally desirable neighborhoods in Boston.
Anecdotally, the company my wife works for has a presence on Newbury, they're a large national chain, and the store (a flagship) has one of the lower sales volumes in the entire region, despite being one of the most expensive rents the company holds. The problem is manifold here - rising business rents pushing businesses out, rising residential rents pushing people that aren't tourists out, and likely more that I'm less familiar with.