Urban Development Transforms the Suburbs
The executive vice president of Elite Building Corp. in Waltham, Massachusetts, Michael Snedeker helps clients to obtain financing for commercial construction projects. Michael Snedeker regularly tracks changes in the real estate market in Greater Boston and elsewhere around the state.
Many suburban areas in Massachusetts are becoming increasingly urbanized, particularly spaces around downtown Boston and Cambridge. In response to people’s desire for quick access to services and greater social connectivity, Boston-area developers are starting to create urbanized office parks where people can congregate after the workday ends.
One example is The District in Burlington, a development that spans over 1 million square feet. Situated 15 miles from downtown Boston, the property features abundant open space and emphasizes walk-ability. In addition, the space features a various restaurants and yoga studios, as well as services such as bicycle sharing. As a result, suburban residents enjoy greater convenience, as they can meet most of their needs close to home.
As the suburbs become more urbanized, they are beginning to look increasingly similar to cities such as Waltham, which offers easy access to highways and downtown Boston.