Over the course of roughly the next two decades, the greater Boston area will have to race to create a vast amount of additional housing in order to handle an increasing population.
Citing a Metropolitan Area Planning Council report, the Boston Globe concluded that the greater Boston area will need roughly 435,000 more housing units by 2040 with the “retiring baby boomer generation” and an “influx of younger workers” choosing to post in the City and surrounding communities.
According to the Globe, the study included two scenarios: a “Status Quo” and a “Stronger Region.”
The “Status Quo” projects a 6.6 percent population increase, while the “Strong Region” indicates an addition of 175,000 new workers.
So, if you think that Boston’s development boom was random, think again.
In 2013, the Boston Redevelopment Authority approved 77 projects, set to add 8,200 additional housing units. Additionally, 37 projects broke ground last year that will bring more than 3,500 more residential units.
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