If you’re familiar with Somerville, you may be surprised to learn that it is one of the few areas in Massachusetts that has had a decrease in population over the last 10 years. Between 2010 and 2000 the population in Somerville went down 2.2% according to the U.S. Census. However, things may not stay this way. There are two huge development projects beginning in Somerville—Maxwell’s Green and the Assembly Square redevelopment. Maxwell’s Green is on the former Max Pac site and will consist of 199 units with a total project cost of $52.5 million. The Assembly Square redevelopment project is slowly showing some signs of progress and has been 15 years in development.
The more that Somerville has to offer, the more appealing it will be to those interesting in purchasing Boston real estate. Major Joseph Curtatone is determined to ensure that the future of Somerville is a bright one, having won a bond from the city which will assist in paying for the project. Major Curtatone, said “We got jumped over in that last wave, because we did not prepare. We got what we deserved, which was nothing. But we’re setting the table, and we’re going to [be able] to compete with anyone, and say, ‘This is where you want to be. This is the next address in the metro core.’
There are no other development opportunities like you have here – from Assembly, even through Sullivan which is on our border, and Brickbottom, Union Square and Boynton Yards – they’re right here. And to do that we need to really approach it in the framework we laid out.” Does this mean you should rush to Somerville to purchase Boston luxury apartments or Boston condos? That is a question best answered by a qualified Boston real estate agent such as those at High Rise Realty.
Contact High Rise Realty to discuss your housing needs if you are interested in purchasing Boston luxury apartments, Boston condos, or Boston real estate.