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Snoo_97625 t1_iu0egmv wrote

Reply to comment by sarcasticlhath in ‘A 24-hour neighborhood’: Wu outlines plans to bring downtown Boston back to life - The Boston Globe by TouchDownBurrito

Lack of political will. The office owners aren't interested, it's significantly more costly than building a 4 story apartment building out in the burbs, it generates less income, it's a years long process, dealing with the city is never fun. Basically developers just aren't interested yet

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unclepeteusa t1_iu21oif wrote

I’ve sold many billion worth of office buildings in Boston and some combo of all of the answers are correct but I think this one is the most accurate, the people who own the “convertible” office buildings will just wait it out and never convert to residential.

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huron9000 t1_iu12dvf wrote

Why would someone downvote this?

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jojenns t1_iu14txy wrote

Because its mostly inaccurate I think

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huron9000 t1_iu19wf2 wrote

Which part? All of it?

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jojenns t1_iu1amoh wrote

No not all. Starts with a bad point lack of political will. The article itself is about Boston’s elected leader pushing for it. They are right about cost but are off track on why. It just was articulated better a half dozen times right above it

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huron9000 t1_iu5jfwd wrote

I read it as: These conversions are extensive, difficult, a pain in the ass, and as yet mostly unproven in the market. Therefore developers will not undertake them without govt subsidies or at least regulation streamlining. That last part is where the political will comes in.

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