What we will see in Greater Boston residential real estate this year will be a lot like what we saw last year.
Another big wave of high-end apartment complexes will open between winter and spring, including 315 apartments at the Ink Block in the South End, 378 in neighboring Troy Boston, 359 apartments at 100 Pier 4 in the Seaport District and 398 units at the Ava Theater District. One Greenway in Chinatown will add another 217 market-rate apartments by summer.
East Cambridge's NorthPoint area will see two large apartment complexes opening this year: 355 units at Twenty 20 and 392 apartments at the Zinc at 22 Water St., near the new Lechmere Green Line station.
Over in the Fenway, two large luxury apartment projects will debut this spring: the Viridian with 322 units and the Van Ness with 172 units. And One Canal will add 320 new apartments on the Greenway this fall.
Whether the Hub can absorb this second wave of high-end rentals will indicate whether Boston is seeing exponential job growth and an increasing influx of millennials, empty-nesters and internationals, or if there's an oversupply, which will result in cutthroat competition that reduces rents.
"The first half of 2015 will be a lot like what we saw last year, with lots of new luxury apartments and a restricted condo inventory," said real estate columnist and William Raveis agent David Bates.
Bates sees the growth of emerging markets such as East Boston, and Dorchester neighborhoods such as Fields Corner and Savin Hill, as places for buyers looking in the $500,000 range as more are priced out of neighborhoods such as South Boston and Jamaica Plain and most of Cambridge and Somerville.
The city is seeking to encourage building denser housing in corridors along Dorchester Avenue between Broadway and Andrews and around the Forest Hills Orange Line station, but there will remain a shortage of more moderately priced condos and apartments for the foreseeable future. But a few, such as the 43-apartment Parkside on Adams in Roslindale, are slated to open this year.
And the shortage also goes for the high-end condo market. Twenty Two Liberty in the Seaport District will debut at the end of the year, but its 109 condos are nearly sold out. So, too, are almost all of the 83 units at Sepia in the South End opening in the fall.
Two big luxury condo projects are breaking ground on Dalton Street near the Christian Science Center. Construction also will start on Lovejoy Wharf, 40 Trinity Place and Copley Place Tower, but delivery on these are two years away.
What will be available this year are smaller condo projects such as the 12-unit Royal in the South End and small South Boston and Back Bay projects.
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