Millennials are bringing new vitality to Boston Metro suburbs and neighboring cities, according to bisnow.com. And since Millennials have influenced Boston’s urban neighborhoods, analysts expect that future suburban developments will be shaped by Generation Y.
For example, Millennials have long-sought walkable, amenity-rich neighborhoods with access to public transportation. While Boston has an abundance of these, young adults are challenged by high housing costs that push them further from the urban core.
Faced with a high cost of living, or a long commute – or having to endure both – more Millennials are embracing suburban job opportunities and lifestyles. Boston Metro employers and developers are taking note.
In 2015, TripAdvisor completed construction on its 282,000 square-foot headquarters in Needham. The office complex includes a large outdoor amphitheater and plenty of green space. It’s adjacent to bike and pedestrian trails, and the company offers a bike-share program for employees. Offering bike-to-work convenience helps foster employee wellness, and the park-like setting encourages employees to enjoy outdoor recreation during breaks and lunch hours.
While some employers are offering suburban perks, developers are finding ways to create mini-urban cores to revitalize Boston Metro communities. A key element is the availability of public transportation. Quincy is an excellent example.
The redevelopment of Quincy Center is designed with Millennials in mind. A corresponding residential project features stylish apartments, with approximately 12,400 square feet of commercial and retail space, including restaurants and retail stores. Amenities include a high-end fitness center, a cross-training studio, a club suite with a lounging media room, and an outdoor kitchen, fireplace and courtyard.
Quincy is one of several Boston Metro areas that are successfully attracting young professionals. According to Niche, Quincy is among the best Boston suburbs for Millennials, along with Brookline, Malden, Somerville and Waltham. Niche based its rankings on job opportunities, the number of Millennial residents in the area, access to amenities, and housing costs.
These are just a few examples of how Boston Metro locations are attracting new residents and new business! If you are beginning, expending or relocating your Boston Metro business, team up with an experienced commercial real estate broker at Jay Nuss Realty Group, LLC!
We provide professional tenant representation to help you find the ideal property. Whether you are buying or leasing Boston Metro commercial real estate, we can help! Please contact us today for expert guidance!