Boston 4K - Seaport District - Driving Downtown

Saturday afternoon drive around the "Seaport District", or"South Boston Waterfront". https://www.wsdevelopment.com/our-properties/boston-seaport-2/
The new home to General Electric (GE) corporate headquarters and global athletic footwear and apparel company Reebok. In a massive renaissance, the area has seen an enormous construction boom in recent years; considered "the hottest, fastest-growing real estate market in the country". A two-bedroom apartment can rent for more than $5,000 per month and the purchase cost would be more than $2 million in 2018.

Waterfront Redevelopment
This section of South Boston north has been targeted for massive redevelopment. The Fallon Company is currently developing Boston’s Fan Pier, one of the most sought-after waterfront sites in the United States, and a catalyst for the revitalization of South Boston’s waterfront. Fan Pier is a nine-acre, 21 city block site which consisted largely of underutilized parking lots when the Fallon Company purchased it for $115 million in 2005. Today, it is a neighborhood consisting of four commercial towers – One Marina Park Drive, 11 Fan Pier Boulevard, 50 Northern Avenue, and 100 Northern Avenue – and a luxury condominium tower Twenty Two Liberty. A second residential building, Fifty Liberty, is currently under construction. Two more high-rise towers are planned. When complete in 2020, the $4 billion Fan Pier project will encompass three million square feet of commercial and residential real estate, public, civic and cultural space, including two parks and a 6-acre marina.

According to the Boston Seaport website, the Seaport/South Boston Waterfront has 78 restaurants, 8 hotels, and continues to grow. The Boston Convention and Exhibition Center straddles D Street. The Seaport Hotel and Seaport World Trade Center is located on Commonwealth Pier. A new home for the Institute of Contemporary Art hangs over Boston Harbor just north of Northern Avenue. The Society of Arts and Crafts, New England’s oldest craft-focused nonprofit is situated closeby on Pier 4. The John Joseph Moakley United States Courthouse is on Fan Pier. The South Boston Waterfront, or The Seaport, in a massive renaissance, has exploded in recent years; considered "the hottest, fastest-growing real estate market in the country", the Waterfront has seen an enormous construction boom. The "Innovation District," as ex-mayor Tom Menino termed it, is now home to tens of new office towers, residential buildings, and "innovation labs" either proposed or under construction. As of September 2010, the Seaport Square project was also under planning. It was expected to cost $3 billion and replace parking lots between the federal courthouse and convention center with a 6,300,000-square-foot (590,000 m2) mixed-use development. Construction was expected to begin in 2011.

Due to the increase in nightlife in the neighborhood, on-street parking for residents has become increasingly scarce. In response, city officials are launching a 90-day pilot program that will expand resident only parking to seven days a week, from four.

On January 13, 2016, it was announced that GE will be moving its corporate headquarters from Fairfield, Connecticut to the South Boston Waterfront. GE ranks eighth on the Fortune 500 and will become the largest publicly traded company based in Massachusetts.

According to the Boston Globe, a two-bedroom apartment in the Seaport area can rent for more than $5,000 per month and the purchase cost would be more than $2 million in 2018.

In November 2016, the global athletic footwear and apparel company Reebok announced they would be moving their headquarters from the Boston suburb of Canton to the innovation and design building in the seaport district of South Boston. The reasons for the move, according to the company, is to be located in an urban environment that is more desirable to millennial workers and to “clarify the roles” of United States offices. The move was completed in the fall of 2018.

South Boston is a densely populated neighborhood of Boston, Massachusetts. South Boston, most popularly known as Southie, was once a predominantly working class Irish Catholic community, but has become increasingly desirable among young professionals. South Boston has undergone gentrification, and consequently, its real estate market has seen property values join the highest in the city.

https://en.wikipedia.org/wiki/South_Boston

https://www.bostonseaport.xyz/

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