Higher interest rates and economic volatility are leading to a slowdown in new construction projects in Greater Boston, developers say, but that could come with a silver lining. A cooldown in what has been a hot market for years could help bring down the high cost of land and construction and create more opportunities for development in the long run, executives said last week at Bisnow's Boston State of the Market at Two Drydock in the Seaport.
“All these headwinds are there, we have these problems, but Boston needs to cool down and create some more affordability,” Richard Taylor, managing partner at Nubian Square Development, said at the event.Taylor, whose firm is working on the 97K SF Nubian Ascends mixed-use project in Boston’s Nubian Square,… Read the full story here. |