Residential booming in Boston, but Harvard is quiet

The Globe reported yesterday on 5 new residential projects that would combine to create more than 1,400 new units of housing in Boston.

Two months ago Harvard seemed eager to move ahead with planning for new housing in Barry's Corner, and their consultant mentioned having more public meetings in October. But October came and went with no meetings and no news about how Harvard plans to proceed. Which is too bad, because if done right new housing and retail in Barry's Corner could be a great improvement to the area.

Another wave of apartment construction to hit Boston - The Boston Globe
Investors in multifamily housing developments are taking advantage of a fortuitous turn of events: rising rents, low vacancy rates, and interest rates below 4 percent - a combination that translates to unusually hefty profits.

"There has never been a better time in the last 40 years to develop a multifamily project in Boston" said George Fantini, chairman of the mortgage banking firm Fantini & Gorga.

Mayor Thomas M. Menino and other city officials said they are receiving proposals for new housing projects every day. “I have investors coming to me and saying, ‘What opportunities do you have? How can we be involved?’ ’’ Menino said. “I haven’t seen that in a while.’’