{"id":1004105485,"date":"2014-10-12T05:53:11","date_gmt":"2014-10-12T13:53:11","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=298209"},"modified":"2022-12-08T15:27:19","modified_gmt":"2022-12-08T23:27:19","slug":"walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\/","title":{"rendered":"Walsh Administration: Boston\u2019s Growing Population Calls for 53,000 New Housing Units by 2030"},"content":{"rendered":"<p><em>By Veronica Grecu, Associate Editor<\/em><\/p>\n<p>In an effort to accommodate an estimated 20 percent increase in the city\u2019s housing stock over the next 16 years, the Walsh administration has come up with a new housing plan for Boston.<\/p>\n<div id=\"attachment_298210\" class=\"wp-caption alignright\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Boston-2030-Sources-of-New-Housing-Production-2010-2030.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-298210\" title=\"Boston 2030- Sources of New Housing Production\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Boston-2030-Sources-of-New-Housing-Production-2010-2030.jpg\" alt=\"Boston 2030- Sources of New Housing Production 2\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Boston 2030- Sources of New Housing Production 2<\/p>\n<\/div>\n<p>Called <a href=\"https:\/\/www.cityofboston.gov\/dnd\/pdfs\/boston2030\/Housing_A_Changing_City-Boston_2030_full_plan.pdf\">\u201cHousing a Changing City: Boston 2030\u201d,<\/a> the plan comes one year and a half after former Mayor Thomas M. Menino launched <a title=\"Boston\u2019s Housing Inventory to Grow by 30,000 Units by 2020\" href=\"https:\/\/www.multihousingnews.com\/cities\/boston\/bostons-housing-inventory-to-grow-by-30000-units-by-2020\/1004076504.html\">\u201cHousing Boston 2020,\u201d<\/a>\u00a0an ambitious plan to add 30,000 new housing units in the city by the year 2020. Now, the new strategy advanced by Mayor Martin J. Walsh aims to create 53,000 new units of housing largely built by private developers\u2014of which 20,000 will be affordable, targeting residents with incomes between $50,000 and $125,000\u2014at a variety of income levels across the city as the Hub is expected to welcome around 91,000 new Bostonians by the year 2030. \u201cBoston is growing, and I am committed to making sure that the prosperity Boston is enjoying reaches every neighborhood and every Boston resident,\u201d Mayor Walsh said in a statement. Any person who wants to contribute to making Boston better should be able to live and succeed here\u2014regardless of their income level, race, or physical ability,&#8221; he added.<\/p>\n<div id=\"attachment_298212\" class=\"wp-caption alignleft\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Boston-2030-Demographics-of-New-Housing-Production-2010-2030.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-298212\" title=\"Boston 2030 - Demographics of New Housing Production 2010 - 2030\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Boston-2030-Demographics-of-New-Housing-Production-2010-2030.jpg\" alt=\"Boston 2030 - Demographics of New Housing Production \" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">Boston 2030 &#8211; Demographics of New Housing Production<\/p>\n<\/div>\n<p>\u201cBoston 2030\u201d also calls for a 50 percent cut in the total number of students living in off-campus rented apartments by building 16,000 new student housing units. By adding these new dorms, around 5,000 units of middle income housing will become available in several neighborhoods across Boston. Furthermore, the city plans to build 5,000 new housing units targeting senior citizens, while another 4,000 units will be constructed to create a vacancy rate that will help stabilize the market and bring rent prices under control.<\/p>\n<p>The new strategy also calls for loosening zoning restrictions in certain areas of Boston, providing more incentives that will support the construction of taller buildings and alleviate development costs, as well as a better use of City-owned land.<\/p>\n<p>While \u201cBoston 2030\u201d comes with a hefty price of $21 billion that will cover both public and private construction projects, with developers expected to pay more for luxury developments in downtown or select outlying neighborhoods for their new housing projects. Additionally, the plan is expected to create over 50,000 construction jobs by the year 2030.<\/p>\n<p>&nbsp;<\/p>\n<p><em>Charts courtesy of the Official Website of the City of Boston\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In an effort to accommodate an estimated 20 percent increase in the city&rsquo;s housing stock over the next 16 years, the Walsh administration has come up with a new housing plan for Boston.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1490,21742],"tags":[],"class_list":["post-1004105485","post","type-post","status-publish","format-standard","hentry","category-boston","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Walsh Administration: Boston\u2019s Growing Population Calls for 53,000 New Housing Units by 2030 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Walsh Administration: Boston\u2019s Growing Population Calls for 53,000 New Housing Units by 2030\" \/>\n<meta property=\"og:description\" content=\"In an effort to accommodate an estimated 20 percent increase in the city&rsquo;s housing stock over the next 16 years, the Walsh administration has come up with a new housing plan for Boston.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-10-12T13:53:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T23:27:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/10\/Boston-2030-Sources-of-New-Housing-Production-2010-2030.jpg\" \/>\n<meta name=\"author\" content=\"Veronica Grecu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@VeraGrecu\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\\\/\"},\"author\":{\"name\":\"Veronica Grecu\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/e8362e8641769829162f16fe58091f62\"},\"headline\":\"Walsh Administration: Boston\u2019s Growing Population Calls for 53,000 New Housing Units by 2030\",\"datePublished\":\"2014-10-12T13:53:11+00:00\",\"dateModified\":\"2022-12-08T23:27:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\\\/\"},\"wordCount\":391,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/10\\\/Boston-2030-Sources-of-New-Housing-Production-2010-2030.jpg\",\"articleSection\":[\"Boston\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/walsh-administration-bostons-growing-population-calls-for-53000-new-housing-units-by-2030-2\\\/\",\"name\":\"Walsh Administration: Boston\u2019s Growing Population Calls for 53,000 New Housing Units by 2030 - 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