Boston suburbs are competing with urban properties more than ever and not just for families and older generations, but millennials as well.
This competition comes at a time when Boston suburbs are beginning to see growth and becoming strong contenders for people of all ages when considering where to live.
While Boston’s strong urban center has been in a boom recently, speakers at Boston Emerging Markets hosted by Bisnow, discussed that the Boston suburbs can expect residential and commercial growth within the near future.
The reasons for new developments and redevelopments in the urban core are obvious, including the desire of millennials to be in more walkable areas with a large selection of amenities.
However, this transformation is now being seen in a lot of Boston suburbs, especially those with easy access to transit and more exciting environments.
Areas such as Malden are transforming into their own mini-urban cores to become more appealing to younger professionals.
Speakers at the Bisnow event highlighted that this residential development will in turn help sustain commercial growth within these areas.
Suburban apartments are also becoming more competitive and attracting more residents to these areas, as long as they provide the right amenities.
These buildings are offering top-quality finishes and additions as well as a community feeling in desirable locations near transit. These new developments are leasing at a rate that proves their popularity.
This growth highlights that millennials and other residents are not only attracted by amenities in the urban core, but that value and price are increasingly important factors.
Read the full report on Bisnow.Tags: Boston suburbs, Commercial Real Estate, new developments, news, residential