(This post first appeared as my Banker and Tradesman May Column)
Philip Koether, an architect for 30 years, told me that before the recession rental properties were different than condominiums, that they were “quite a bit lesser.” But post-recession, Koether who designed the common space at the new Batchyard apartments in Everett, noted “it’s a complete blur,” and there’s little distinction between the two.
I was told that it has gotten to the point that in New York City it can be very hard to tell the difference between new condo buildings and new apartments. Ditto, Boston. In fact, Boston has such great new apartment buildings, in such enviable locations, with so many amazing amenities, in many instances buying instead of renting would mean taking a step down in terms of the quality of one’s residential life.
These new Hub apartments with their high-end appliances and in-unit laundry, they’re not your dad’s apartment. Their better finishes aren’t the only difference. When your dad rented, he didn’t have free wifi in the common areas, ultra-cool chill spaces or the local craft brewery serving beers at the building’s St. Patrick’s Day Party. And the building he rented in when he was fresh out of college, for sure, didn’t have indoor pet relief options and bike repair areas like the ones I found in so many of the new Hub buildings that I have toured.
(To see the Hub’s most unusual new apartment layout and find out why the Hub exec hated it, click “more”)