Dive Brief:
- Developers of a $150 million mixed-use complex in the Dorchester neighborhood of Boston reportedly have secured financing and could begin construction this summer, according to The Boston Globe.
- Dubbed the "Dot Block," the 362-unit residential complex will also include a retail component and is expected to be the first of what officials hope will be several new developments that could revitalize the industrial neighborhood.
- The Boston Planning & Development Agency is also expected to rezone a corridor that will run through the Dorchester area and allow for more residential construction in the area.
Dive Insight:
Southwest of Dorchester in the Hyde Park area, developers have proposed another mixed-use development, a 521-unit multifamily complex with residences geared toward both middle- and low-income tenants. The four-building, 556,625-square-foot development will also feature a restaurant, parking, coworking areas and a daycare center.
While Boston seems to be rezoning certain areas — or at least granting variances — to encourage development, at least one other major city, Los Angeles, could be soon headed in a different direction. In response to what critics have called a glut of high-density projects, Los Angeles residents will vote in March and decide whether the city will implement a two-year ban on the zoning variances required to support such development.
As a result, developers are trying to quickly push through their projects while city and county approvals remain a possibility. The latest of those aiming to move forward with a high-density project in advance of the spring vote are developers for the Bjarke Ingels Group (BIG)-designed 670 Mesquit. If the project can win approval before March, it will feature two connected 30-story buildings, retail, restaurants, hotels, 250 rental apartments and 800,000 square feet of office space in the L.A. Arts District.