Boston\u2019s under-construction pipeline remained in the spotlight through the second half of the year. With nearly 4.7 million square feet under underway as of October, the metro ranked first nationally for new projects, Yardi Matrix information shows.<\/p>\n\n\n\n
The market\u2019s vacancy rate continued to decline, remaining below the national average. However, office visits in the metro<\/a> lagged behind the U.S. figure, according to a Placer.ai report. As of September, visits were down 35.6 percent compared to the same month in 2019, while nationwide office traffic was 26.3 percent below pre-pandemic levels.<\/p>\n\n\n\n Additionally, the Boston Zoning Commission approved the first major update to the city\u2019s downtown zoning<\/a> in more than 30 years last month. The initiative will introduce new protections for historic and cultural sites while easing the conversion of aging office buildings into residential use.<\/p>\n\n\n\n