URBANICA IS ON BOSTON BUSINESS JOURNAL

The Resnikoff family hanging out in their beautiful kitchen
Photo Credit: W.Marc Bernsau, Boston Business Journal

Mary Moore, reporter from the Boston Business Journal, wrote a fantastic analysis on the up and coming neighborhood of Roxbury. Mary wrote "that the area has witnessed significant resurgence as hundreds of millions of dollars in public and private sector projects come to fruition in the neighborhood's core and on its fringes". This has lead to the growth of median prices far exceeding the rise in values across Suffolk County and across the state. Two of our projects, 226-232 Highland Street E+ Townhouses and the Parcel 9 Melnea Hotel and Residences were featured in the article.

A couple of our home buyers at 226-232 Highland Street, Ted Resnikoff and his wife, Suleykan "discovered this hidden jewel" of a neighborhood that is mere minutes away from downtown Boston. The energy efficient project is slated to be LEED Platinum certified and the houses actually produces more energy than it consumes, hence the term "Energy Positive". The quality finishings, the modern contextual design and the sustainable aspects of the project helped in breaking new ground in sales prices. In return, the buyers were able to get more value for their money with new construction, more living space, lower comparative prices, room for future capital appreciation and most importantly, the opportunity to live in a strong historic Boston neighborhood.

While there are concerns that long term residents will be pushed out due to gentrification, the fact remains the as Roxbury progresses with new developments of market rate housing alongside other bigger institutional developments around Dudley Square and Northeastern University, the long term prospects of the residents will greatly improved with locally created jobs and wealth.

In fact, this is the driving principle for our development of Parcel 9 Melnea Hotel and Residences--a multi-million dollar mixed use complex that boast a 145-room hotel, 50 apartments, retail and community spaces. The hotel and retail components will help create local jobs while stimulating the surrounding micro-economy. In tandem with the developments at Dudley Square and Parcel 10, we believe that these projects will create the momentum in rejuvenating the area and help this amazing neighborhood reach greater heights.

For the full story, please visit this Boston Business Journal article, ["ROXBURY'S CHANGING FACE"].