The Boston Globe | By Tim Logan
September 11, 2016
As Boston’s building boom rolls on, developers are building more of something they haven’t built much of yet: condos.
Condominiums are the majority of the more than 4,000 housing units that developers have asked to be permitted by the city so far this year. That’s a big shift from the last few years, when three-quarters of the new housing that has surged into Boston has been rental apartments.
It’s a sign, city officials and developers say, of a rental market that’s beginning to soften, coupled with growing demand for homeownership in the city.
“There are a lot of people who want to stay in Boston who haven’t been finding a lot of product they can afford to buy. Now the market is responding,” said Sheila Dillon, chief of housing for Mayor Martin J. Walsh. “For a moderately priced condo . . . there’s a lot of demand right now.”
That’s spurring condo projects far from the glitzy towers that have gone up in the Back Bay and the Seaport. Developers have filed detailed plans for a 56-unit condo building in West Roxbury. Davis Cos. recently broke ground on an 89-unit condo building in Allston. And in South Boston, a block-long complex known as Washington Village, with 408 condos and about 250 apartments, will be built near Andrew Square, having won approval last month from the Boston Redevelopment Authority.
“We think it’s going to be hugely successful,” said David Pogorelc, the developer. “There are a lot of people who are looking for places to buy.”