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Private developer to be sought to re-do part of former Bromley-Heath development
By adamg on Fri, 02/24/2017 - 9:27am
The Globe reports the Boston Housing Authority is looking to find a private developer willing to replace some of the buildings at the Mildred Hailey Apartments in exchange for being allowed to build market-rate housing on vacant parts of the complex.
The BHA has increasingly used this model to renovate its projects in the face of declining federal funds for the work, most notably at Bunker Hill in Charlestown.
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Market-rate at Bromley-Heath?
Who do they think is going to buy that?
Overseas investors who are told only that they're buying into an undervalued Boston neighborhood on the verge of gentrification?
Yes, overseas investors, this is exactly what you should buy, and you should leave the other overpriced neighborhoods alone with your price inflation... ;)
Every hear of Columbia Point?
Might want to Google it.
Much like Columbia Point, all units will be rentals, so there will be zero overseas investors (though probably a bunch of overseas renters.)
Adjacent to the T and a bike path to the Back Bay. The location makes Columbia Point look like the middle of nowhere.
A two bedroom at 225 Centre
A two bedroom at 225 Centre right across the street fetches about $2,700/month.
Private developer means
Private developer means eventual switch to students and yuppies ... I.e Harbor Point and Mission Main