News
Equity Residential Hunting
August 16, 2010
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| Equity Residential?s Greg White, VP for development in Boston and DC, is looking at several sites to build new apartments in Boston, Cambridge, and the ?burbs with transit links along the Rt. 128 corridor. He likes metro Boston: rent growth has been consistent, without the steep spikes and troughs that mark other markets. Demand is always solid because of the intellectual capital the region attracts. Compared to DC, rents are about 15% higher, the entitlement process takes longer, and it's costlier to build. These hurdles constrain supply and buoy rents. Getting buildings up in Boston is arduous, but Greg says, rewarding in the end. |
