Market Predictions: Bullish on East Cambridge
When you've spent the better part of a decade localizing your business to one zip code, you get a real sense of the market and the trends that spark redevelopment. In this case, Boston's 02127 submarket (South Boston) was the point of focus, as it underwent an incredibly dizzying transformation in such a short period of time. Watching the neighborhood take shape to what it is today, we are seeing very similar characteristics in the way East Cambridge (02141) is developing. We're not talking about Kendall Square, but Cambridge Street in particular from First Street in East Cambridge to Prospect Street in Inman Square the main drag connecting Inman and Harvard Square with downtown Boston. With major anchors like CVS Pharmacy securing its new location in the old Lechmere National Bank building at the corner of Third and Cambridge to dilapidated landmarks turned luxury condos (i.e. Inman Crossing, 305 Webster Ave) this stretch is unveiling some of the very same trends as did East and West Broadway in South Boston.
Being at the center of it, we (JR Associates) are doubling down on the neighborhood as we continue to see more and more buyers and renters migrate away from Boston over the Charles. As a full-service real estate and design services firm, we are aiming to help homeowners transform their properties to meet market rents or convert to condominiums for top dollar resale. We'll see some really exciting changes over the next 3-5 years with both commercial tenants and residential rehab/new construction developments. If you're interested in learning more about the East Cambridge neighborhood, please reach out!
Image from Olinger.io (Architects for 305 Webster Ave) and BLDUP (CVS)