June 20, 2024

The Real Estate Market of Downtown Boston

The Impacts of Changing Work & Life Patterns

The standard model for the role central business districts play in cities across the country has been forever disrupted by the pandemic. Reductions to in-person work have a cascade effect on commercial real estate, public finance, and city vibrancy.

Boston is not immune from this disruption. In fact, the outsized role that commercial real estate activity has played in Boston’s economic growth over the last 20 years means that, in many ways, this threat is more pronounced here than in other areas.

To develop policy solutions to adapt to this changing world in a way that maintains a vibrant downtown while stabilizing city finances, it is critical to understand exactly what is happening, what it means for commercial real estate, and how different policy options do or do not move us in the right direction.