Friday, February 24, 2006

Luxury Apartments

The Boston Herald reported today that two major rental towers are poised to open this year. One is in Chinatown and the other is in the Fenway. The Trilogy located in the Fenway will have average rents from $2,500.00 to $2,700.00 a month. On the high end, renters will pay $4,500.00 for a thee bedroom.

The Boston Herald also reported about the lack of affordable housing. Thomas Meagher from Northeast Apartment Advisor was mentioned in the article commenting on the lack of affordable apartments: His solution: Instead of mandating affordable units, City Hall should streamline its review process. Get out of the way, and get more than just a pair of apartment towers into construction. Market forces will take over. The rents will come down, says Meagher.


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