Boston2018-09-26T12:35:42+00:00
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Boston-Cambridge-Newton

The Boston market has very much stabilized with continued substantial investment in the area’s under-supplied residential sector.

This has both super luxury and standard multi-family developments throughout the metro area. The commercial market has seen a large influx of blue chip brands arrive into the region with notable imports in TripAdvisor and Amazon. These large brands have been attracted, like many others, through the hugely successful Seaport district. These successes look to continue through the next three years along with the further development of the Cambridge area. As per every year, the higher education sector in Boston continues to show heavy spend with major colleges like MIT, Harvard, and the UMass system. Construction labor shortages are problematic for local general contractors, as 73% of surveyed general contractors are having difficulty hiring craft hourly workers according to AGC’s Northeast Regional Survey. Unemployment in June 2018 was very low at 3.6%, as there appears to be shortages of glaziers, carpenters and equipment operators. Top projects in the area include the Mary Ellen McCormack Housing Complex ($1.6B), the Green Line Expansion ($1.3B), and MDOT North-South Rail Link ($12.3B).

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