Market Conditions in Boston>Question Details

Bobby Woofter, Real Estate Pro in Cambridge, MA

Do you think the all the new jobs in the seaport will improve Eastie because of the close proximity and low prices?

Asked by Bobby Woofter, Cambridge, MA Wed Sep 28, 2011

The bit above says it all but with all the jobs going into the new "innovation district" Eastie could see a turn around because of the short travel distance and low price similar to the way JP started to be such a popular choice for the Longwood area workers

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Territory.com’s answer
Let's hope so! I think Eastie has so much potential because of its location and is underdeveloped ... Right at the peak (around 2006) it was seeing signs of gentrification and then unfortunately the market crashed and what little redevelopment was don't sat and/or lost value.
0 votes Thank Flag Link Thu Oct 13, 2011
If the jobs require that the employee live in Eastie, then yes as to the real estate market. And on the whole, more people in an area with money to spend usually helps the local businesses.
0 votes Thank Flag Link Fri Oct 7, 2011
I doubt it. As the Seaport District continues to develop you’ll see values in the immediate area increase and peripheral neighborhoods like Andrews Square, Savin Hill, Polish Triangle likely be the direct benefactors. Keep in mind that most of new commercial tenants are established Massachusetts companies like the Boston Herald, Allen & Gerritsen, Vertex Pharmaceuticals so employees probably won’t’ need to relocate. But as the Seaport area expands and the Innovative Districts attracts new companies, East Boston might become more attractive but I’d say its years away
Web Reference: http://www.bowlinegroup.net
0 votes Thank Flag Link Thu Sep 29, 2011
Bobby,

I agree that similar to JP it will help Eastie.
0 votes Thank Flag Link Thu Sep 29, 2011
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