Mayor Menino announces plans for development in Boston
Mayor Menino announced plans to construct 30,000 new housing units in Boston by 2020. Menino made this announcement before the Boston Municipal Research Bureau and said the city will work to prepare Boston “for the housing needs of all of our people, not just some of our people.”
In the past 50 years, Boston has experienced rapid growth in housing supply. Menino emphasized that from 2000 to 2010 the city created 20,000 housing units. Consequently, construction injected $6 billion into the economy. Of the 20,000 units built, 6,400 were affordable housing units. Over the same period, universities have added 10,000 new dorm room beds, which is freeing up apartments for local families.
Last year, the city broke ground on $1.6 billion of new developments. Menino boasts that that number, “sounds like a lot until you realize that we expect to triple that number this year.”
In addition to housing, the city is improving local facilities. Recently, the city announced plans to completely renovate the Millennium Park in West Roxbury. The renovation will cost $11 million and include new athletic tracks, multi-use fields, tennis courts, and new lighting.
Many universities and hospitals in the area have plans to grow. In fact, $1.2 billion of construction is currently underway and Northeastern, Boston University, Suffolk, and Harvard all have plans to grow more in the next couple years.
For more information, check out the full article here.