It’s time to get serious about investing in the overlooked squares of Somerville. By Jan. 1st, 2015 Davis Sq. & Porter Sq. wont be the only hot spots for condo development & strong, consistent rents. Here are some facts from tonights meeting that have given me confidence.

- The State of Massachusetts has a legal obligation to complete this project by Dec. 31st, 2014.
- The completion of tonights meeting keeps this project on time and 10% completed
- Completion of this meeting and the environmental impact report disclosed allows for preliminary engineering to begin.
- The state is currently seeking 50% of the funding for this project from federal grant money.

By far and away the most important fact is the 1st one. No more studies or delays. The state has 6 years to get this project finished or it will face 100’s of lawsuits from neighborhood associations that have been lobbying for this transit system for close to 60 years.

The auditorium was about 75% filled tonight and local politicians and department heads from all the towns were there to listen to the report and then give official comments afterward. There are still some major concerns to be settled like the Rt 16/Mystic Valley Parkway station and the location of the maintenance building.

However it is very hard to over look the fact that this project will be completed in what I can only foresee as the next upswing in real estate values. We only need to look to the red line extension to see how trans-formative that was to the Porter and Davis Square neighborhoods when the red line came to them in 1985.

As far as value added plays go, you can upgrade all the kitchens and build as many roof decks as you want. Nothing beats buying in a neighborhood that didn’t have a T stop and then 5 years later does. Your property values and rents will sky rocket from the easily accessible T Stops.

Click Here to view the report on line.
Click Here to view an interactive map of the project

Filed under: Boston Developments