Boston’s 5 Largest Rental Projects Delivered in 2015
The Boston apartment market added more than 1,880 new units in 2015.
By Balazs Szekely, Contributing Editor
Boston, Mass.—Beantown’s rental market has continued its solid growth in 2015 and developers added seven apartment communities of over 50 units, according to Yardi Matrix. These added up to a total of 1,888 units—on par with 2014’s balance sheet, which shows 1,870 new apartments in Boston. Some truly daring projects came to life last year—Downtown Boston’s Ink Block and a couple others even went above 300 units—hence the similar unit counts in spite of the fact that nine new builds met our research criteria in 2014.
The new housing options bring a multitude of resort-style amenities, green living spaces, and vibrant, live-work-play environments to the Hub. For example, the $185 million Troy Boston project was built to achieve LEED Gold certification and aims to meet the renters’ demands for high standards. However, new affordable options also came online—alongside Troy Boston, the Ink Block and The Viridian communities also have a number of units reserved for renters with low to moderate incomes.
- Troy Boston, 378 units
Completed in September last year, Troy Boston is located at 55 Traveler St. and offers 78 studios in addition to the 300 one- and two-bedroom apartments. The 238,221-square-foot property also includes parking and retail space at the first floor. The building is LEED-certified to the Gold level and the developer claims it will perform 28 percent more efficiently than a typical building. Its rooftop terraces have fire pits for barbecues as well as a rooftop lounge, while the outdoor swimming pool area features a cabana deck. 38 of its units are classified as affordable. (Photo credit: Troy Boston Official Website)
- 100 Pier 4, 369 units
Located at 100 Pier 4 Blvd., the runner-up is a luxury project rising 21 stories above historic Boston Seaport. Just 10 more units would have earned it the first place on our list—although it is in fact significantly larger than Troy Boston with no less than 302,441 square feet. The building features a rooftop terrace with swimming pool and views of Boston Harbor and Downtown Boston. A fitness center is also available on site, along with a third-floor sun deck, business center, resident lounge and underground parking. (Photo credit: 100 Pier 4 Official Website)
- The Viridian, 342 units
Much like Troy Boston, The Viridian also includes 38 affordable units and retail space on the first floor, and it is projected to be LEED Gold certified. Completed in early 2015, it is located at 1282 Boylston St. and the 9-, 14- and 19-story buildings total 279,366 square feet. Self-monitored utilities and smartphone-controlled lighting are just some of the intelligent features available for tenants, who can choose from 12 studios, 172 one-bedroom and 64 two-bedroom apartments. (Photo credit: The Viridian Official Facebook Page)
- Ink Block, 315 units
The Ink Block development opened in September 2015 at 300 Harrison Ave., offering 101 studios, 156 one-bedroom, 51 two-bedroom and seven three-bedroom apartments and numerous amenities on a total of 234,675 square feet. The four-, six- and seven-story buildings are LEED Gold certified and also include street-level retail spaces. The property’s location within Downtown Boston grants easy access to restaurants, shopping, city parks and transportation. (Photo credit: Ink Block Union Official Website)
- The Tower One Greenway, 217 units
The Tower One Greenway is a modern, LEED Silver certified green building with spectacular views of Boston Harbor and Downtown Boston. Its studios and one- to three-bedroom apartments feature open-plan layouts, movable kitchen islands, stainless steel appliances, high-end fixtures and floor-to-ceiling glass windows. The nine- and 21-story buildings comprise 178,272 square feet, with retail spaces configured on the first floors. (Photo credit: The Tower One Greenway Official Website)
For more of 2015’s largest apartment projects in Boston, check out the complete list on the RENTCafé Blog.