Luxury apartments at Allston Yards begin preleasing – with rents starting at $2,900
Anthony D'Isidoro
Hello Everyone,
The most common rule of thumb to determine how much you can afford to spend on housing is that it should be no more than 30% of your gross monthly income, which is your total income before taxes or other deductions are taken out. For renters, that 30% includes rent and utility costs like heat, water and electricity. For homeowners that 30% includes mortgage payments, homeowner association fees and utility costs like heat, water and electricity.
Alder Starting Rents Gross Monthly Income Required (Annual):
Studio: 9,670 (116,040)
1 Bedroom: 11675 (140,100)
2 Bedroom: 16330 (195,960)
3 Bedroom: 22230 (266,760)
Young people cite housing and job availability as their main reason for planning to leave the Commonwealth over the next five years. Do you think maybe the two are connected?
Tony
______________________________________________________________________________________________
Luxury apartments at Allston Yards begin preleasing – with rents starting at $2,900 (Christopher Gavin, Boston.com: March 12, 2024)
Luxury apartments at Allston Yards begin preleasing – with rents starting at $2,900 (msn.com)
The first residents of Allston Yards, the expansive, mixed-use development underway in the neighborhood’s rapidly transforming Massachusetts Turnpike corridor, are slated to move-in this spring.
Preleasing at Alder, the 165-unit, six-story luxury apartment buildling at 301 Guest St., commenced Monday, offering move-in dates beginning May 1, according to General Manager Kimberly Eley.
With Alder’s amenities ranging from a full-service concierge to a pet spa, Eley told Boston.com she believes the building will attract tenants who are “looking for an elevated yet simplified living experience.”
“People who just appreciate warm and inviting, hospitable environments,” she added.
Monthly rents start at $2,900 for studios, $3,502 for one-bedroom units, $4,900 for two-bedrooms, and $6,667 for three-bedrooms. The building also includes 21 income-restricted affordable units.
“As a leader in the residential space, we are looking forward to expanding our development pipeline in this market,” Mike Henehan, president of Bozzuto Development Company — one of the developers behind Allston Yards — said in a statement.
“We are also acutely aware of the growing need for expanded housing options and look to leverage our deep knowledge to address this critical challenge.”
Alder will sit above a 67,000-square-foot Stop & Shop, expected to open this summer, along with other, yet-to-be announced retailers.
“Drawing its name and design from the alder tree, whose wood is synonymous with iconic Fender guitars, Alder celebrates the legacy and enduring spirit of ‘Allston Rock City,’” a press release says. “The Stantec–designed building positions Alder’s front door to face a forthcoming one-acre community green space, creating a peaceful, front-yard effect for residents within the urban neighborhood.”
Additional Alder amenities include a secured package room, a fitness center and barre studio, billiards and game tables, a lounge and outdoor deck, a library, workstations, and a landscaped courtyard.
There’s also enough bike storage for each apartment and 83 parking spaces in an electric vehicle charger-equipped garage.
“For every sort of resident, we’ll have something for them,” Eley said. “And then, of course, the apartments themselves, they’re stunning.”
Units feature open-concept floor plans and “several high-end appliances and finishes for elegant living,” such as quartz countertops, tile backsplashes, wood grain flooring, smart thermostats, and walk-in showers, according to a press release.
Alder is the first facility to open as part of the 10.6-acre Allston Yards development, one of the largest projects ever for Allston-Brighton.
The complex is now under construction after having secured initial approval from the Boston Planning and Development Agency in late 2019, following a more than two-year-long review process. Plans filed at the time said the project’s four buildings — interspersed with a new street grid — would be constructed in phases over the following eight to 10 years “as the market demands.”
“The office and remaining residential space are forthcoming, but we do not have a timeline to share on construction at this time,” Henehan said in a statement to Boston.com on Tuesday.
Alder marks the first phase of the project, which will ultimately grow to include 1,000 residential units, 117,000 square feet of retail space, and 420,000 square feet of offices and laboratories across the four structures, along with a one-acre community green.
Allston Yards replaces a shopping plaza at 60 Everett St., just south of the Massachusetts Turnpike. The site is adjacent to a MBTA Commuter Rail station currently serving a neighboring development, Boston Landing, now home to the New Balance corporate offices, the Warrior Ice Arena, and Roadrunner, a music venue that opened its doors in 2022.
JOHN SPRITZLER
--
To post to this group, send email to AllstonBr...@googlegroups.com
For more options, visit this group at http://groups.google.com/group/AllstonBrighton2006?hl=en
---
You received this message because you are subscribed to the Google Groups "AllstonBrighton2006" group.
To unsubscribe from this group and stop receiving emails from it, send an email to allstonbrighton...@googlegroups.com.
To view this discussion on the web visit https://groups.google.com/d/msgid/allstonbrighton2006/BL3PR12MB64524BE5573E6C0D7E319860AF2A2%40BL3PR12MB6452.namprd12.prod.outlook.com.
johnmc...@gmail.com
“Drawing its name and design from the alder tree, whose wood is synonymous with iconic Fender guitars, Alder celebrates the legacy and enduring spirit of ‘Allston Rock City,’” a press release says. “The Stantec–designed building positions Alder’s front door to face a forthcoming one-acre community green space, creating a peaceful, front-yard effect for residents within the urban neighborhood.”