The Jamaica Plain Gazette reports on a 200-unit apartment building planned for 105A South Huntington.
Somebody is gravely misinformed as to how much money your average grad student makes.
I think you'll find there are two types of grad students in Boston (for the purposes of this thread):
1. College grads going back to school on student loans to try to make themselves even marginally employable in this hideous recession.
2. Children of great money biding their time.
I lived in one of the new Fenway developments for about six nanoseconds before the economy collapsed, and I can tell you that the vast majority of residents in ALL of those buildings are wealthy grad or college students (those no-college student policies are quite flexible). Probably 2/3 foreign to 1/3 American, probably 1/2 took their studies seriously and 1/2 spent their days shopping on Newbury Street or bombing around in Porsches and Ducatis. I suspect it will be no different with this new project. The only question is whether JP can fetch $2600/month and up for a 1BR.
Not even just Grad Students, I know far too many Non-US Citizen Students who are here on their parent's dime. Its far more cost effective to just buy a condo, pay the fees, and utilities, than it is just pay extra tuition for campus housing. Parents see this more as an investment than a school-thing. They know in a few years, they can flip the property and sell it once their kid is done with school.
In many cases this is far more cost effective than having your kid live in a 1970s era dorm with 3 other roommates who share one room.
Of course like anon, the question looms is IF this area can fetch that kind of money in this neighborhood. Many years ago, I looked at apartments on South Huntington (right after you make the Left onto S. Huntington).. these apartments were pretty gritty. And ALL of them geared toward Grad Students (or Doctors who wanted a private place to crash between long shifts in the Longwood). Most started at 1k and up. And these were TINY 1 ROOM apartments with a kitchenette.
2600 is alot, but compared to what's offered in the area, its almost on par, considering it would be 1 bedrooms (not one room/studio) and would be new construction with all the new amenities that go along with it.
I'm a just-former grad student, and realistically, if you're a jerk-off, you don't get into a grad program, or if you do, you don't stick around long. It's a lot of work, and you can't pay somebody else to do your homework on the graduate level.
Don't get me wrong, there were children of privilege in my program (film at Emerson, yeah, I know, would you like fries with that, moving on), but they did their own work and they generally weren't assholes. The assholes generally got bounced within a semester.
Of say 1/3 your take home should go to housing. $2600x12 = $31200.
So your graduate student has $93000 a year take home. Not bad.
I'm a grad student at nearby Northeastern University and I make $29,100/year pre-tax. Not sure how they think any grad student is going to rent those apartments.