Until recently the real estate in East Boston lagged compared to other Boston neighborhoods. Not much was built and urban dwellers did not demand or consider East Boston as an option. However, now there is an extraordinary amount of development planned over the next several years and this will absolutely change how we view East Boston as it becomes one of the neighborhoods that will see great potential and demand. Buying at Porter 156 before these luxury condos are built will put you in the ultimate position to take advantage of what East Boston will become.
Roseland Property Company has begun construction on East Pier, a seven building 550-unit luxury condominium and apartment complex. Four of the buildings will replace a huge warehouse on the pier, which juts out in the Boston Harbor. This part of the project is slated for 2010. The other three buildings of the complex will be built on the landside portion of the thirteen acre site and will be completed in the next two years. The site will abut Piers Park, which is already a fabulous green space on the water’s edge. A water shuttle will provide transportation downtown. Of this development, about 65,000 square feet is slated for restaurant and retail space.
A commercial marina is also planned. Winn Development is also planning another luxury condo project on the water near East Pier. Many more are sure to follow. With pricing starting in the mid $300,000’s and ranging to $2 million, the East Boston Waterfront will see dramatic changes and this will directly impact the residents at Porter 156 and the investments they have made.