@David Barnett Thank you.
1. Restaurants:I moved to Chelsea 2 years ago. 2 years ago there weren't enough restaurants I wanted to go with friends. In the last 2 years, Chelsea Station, and Ciao pizza have opened- 2 of the best restaurants in town. Fusion foods is relocating to a nice new location near the silver line stop/market basket. Mystic brewery is also nice to have- breweries often get into up and coming areas early.
2. Increasing owner occupancy tax reimbursement: Previously 20% reimbursement for owner occupy- now its raising to 25%- very nice benefit.
3. All of the brickstone multis in the waterfront/south end district to admirals hill get snatched up fast- multiple offers- often cash: People are catching on- but the prices are still in the neighborhood of 200-250$ a square foot. I've seen people successfully turn these multis into condos. The condo inventory in Chelsea has pretty high turnover in the hot areas. Spencer lofts have seen tremendous increase in value over the last few years. Non brick buildings are also moving fast. Eastie prices are already 400-450$ per square foot. I like many parts of Chelsea a lot more than Eastie.
4.Rent: In the last 2 years, rent for a 1 bedroom has gone up significantly. I think I could rent my place for 25-30% more than I could have 2 years ago.
5. Chelsea is embracing change- artists are painting murals- designers are moving in. The city is approving a lot of development projects.
6. The commercial district around market basket seems to be most attractive to all the large apartment complexes and corporations. All the new apartments buildings are being built close to the silver line stop. Hotels are being built or existing ones like the Wyndham are being upgraded- possibly to provide an alternative to future Wynn Boston Harbor casino patrons.
7. Broadway and the area near city hall have a lot of potential- but a long way to go. I want to see people start investing here.. there are more hurdles with these areas- just more potential for crime. People have talked about moving the methadone clinic to a more secluded location- its a controversial topic. Broadway could become a really cute downtown someday- the buildings there have a lot of character. There is a great theater- and the city hall building is beautiful.
8. The waterfront from admirals hill to meridian street is gentrifying fastest.
9. Look at flood maps- some parts of Chelsea are at flood surge risk- however, so is pretty much all of seaport and back bay to put it in perspective.
