These Boston-area real estate projects open in 2024
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Photo: Courtesy of The HYM Investments Group
The rising materials costs and labor shortages haven't stopped Boston-area development projects entirely.
Why it matters: These projects stand to bring more commercial and residential space into Boston's real estate market.
- But office and condo sales remain down, and prices for luxury condos and other residential units haven't cooled.
Here's what's moving forward in 2024:
Suffolk Downs
The team redeveloping Suffolk Downs plans to open its first residential building this summer.
- The "Amaya" building has 475 apartments — studios, one- and two-bedroom units — near the Beachmont Station in Revere.
What's next: It's a major milestone for the former racetrack site, but the developer is still working on its mixed-use campus.
- When it's done, it will feature life science buildings, retailers, hotels and 10,000 residential units, per the Boston Business Journal.
South Station Tower
When the 51-story tower over South Station is complete in 2025, it will be the fifth-tallest building in Boston.
Details: Hines, the developer, has already started scoping out buyers for its 166 luxury condos, per the BBJ.
- Prices range from $1.25 million to $14 million.
Eli Lilly building
Construction on the 12-story building at 15 Necco St. finished last year, developer Alexandria confirmed.
- Eli Lilly's Seaport research campus is expected to open this year.
Details: The building will house the Lilly Institute for Genetic Medicine, where the pharmaceutical giant will continue to develop RNA- and DNA-based treatments.
- It will also have an incubator that other life sciences companies can tap into and collaborate with Lilly scientists.