Boston is in the midst of a historical development period and is set to break the 700,000 population mark, which is something that hasn’t happened for decades.
This means that we’re on the brink of a development gold rush, and those that invest wisely will reap huge rewards. With development on the rise, there are a few submarkets of the city that you’ll want to keep your eye on.
Be sure to add these up and coming submarkets to your list as you carve out your piece of the upcoming development boom.
Up and Coming and Undervalued Boston Submarkets to Watch
So which submarkets should you check for?
Whether you’re eyeing a mixed-use property or a sprawling retail space, you can’t go wrong with the following areas:
1. West End
Expect lots of growth on the West End, starting with the many developments happening by The Garden. This neighborhood’s proximity to water and attractions makes it a no-brainer when it comes to choosing where to invest.
What’s more, there are big upgrades in the works, such as a movie theater and grocery store.
2. Mission Hill
If you’re investing in Boston submarkets, make sure Mission Hill is on your list.
People flock to Mission Hill because of its nightlife and diversity. It’s also more affordable than other areas, and it’s dense, urban feel makes it perfect for retail and commercial development.
This happens to be one of the hottest markets for Airbnb listings and is one of the neighborhoods that transplants and young professionals are moving to.
3. Roxbury
Roxbury is home to lots of jazz, fine cuisine and culture. It has historically served as a hub for Boston’s African American population and is home to landmarks and attractions like Malcolm X Park and the Museum of the National Center of Afro-American Artists.
It’s also the birthplace of the legendary R&B group New Edition.
Properties in Roxbury are hot commodities that will only increase in value as families and young professionals are becoming to flock to the neighborhood for its charm, culture, and diversity.
Develop a set of affordable condos with groceries and retail attached could be a wise investment for this neighborhood.
4. Kendall Square
Investing in Kendall Square is a great idea due to the booming growth currently taking place at the Massachusetts Institute of Technology (MIT).
This area is about to go a number of developments related to research and office buildings. By carving out some real estate in this area, you can only expect its value to go up.
5. Chelsea
Chelsea is a great area to invest in because of the Silver Line expansion. People will be easier able to get around, and there are a number of condos being developed in this neighborhood.
These features make it a great area for mixed-use developments.
Invest in the Best Boston Submarkets
As you can see, there are a number of up and coming submarkets in Boston that you can take advantage of. When you’re trying to grow your portfolio in the coming years, be sure to keep your eye on these neighborhoods.
We would also love to help you facilitate any real estate transaction that you come across.
Reach out to us online to request a consultation, or give us a call at (617) 674-2043.
Ready to get started?
Schedule a free consultation with MANSARD’s team of experts to learn more. We’ll discuss real-time commercial real estate market opportunities and help you determine the best investment strategy for your portfolio.