Tidal Marsh to Total Makeover: Investment Opportunities in the South End
The South End neighborhood of Boston boasts an impressive history that started with humble beginnings. Similar to the Back Bay, the South End was originally a tidal marsh—much of which was unfit for building or habitation. During the mid-19th century, numerous landfill projects filled the marsh, and construction of the neighborhood we know today began. The district is the largest, intact, Victorian row house neighborhood in the country, with eleven residential parks. It also holds the distinction of being listed on the National Register of Historic Places. Since its modern inception, a wide variety of cultural and ethnic groups have called it home, including upper class elites, immigrants, artists, and musicians. Much of that storied history continues to this day, as the neighborhood is still home to numerous art galleries, and Boston’s oldest and longest operating Jazz Club, Wally’s Café.
After a period of urban renewal in the 1950s, in which the “New York” streets (labeled after towns in New York) were demolished, new architectural power houses dominated the scene. Benjamin Thompson played a pivotal role here. He was one of the founders of the Architects Collaborative in Cambridge, whose members included Norman C. Fletcher, John C. Harkness, and its most famous member, Walter Gropius—the founder of the Bauhaus movement. Perhaps most famously known for his design of Faneuil Hall Marketplace, Benjamin Thompson also designed two stately residential buildings in the South End: 26-30 Rutland Street, and 105-117 West Concord Street. These buildings follow Thompson’s philosophical approach to architecture—modern in design and arrangements, but inspired by and closely connected with original, historical architecture. He argued for urban architecture that would “encourage, rather than discourage, joy and social life.” Upon viewing his work in the South End, it is readily apparent that the design and infrastructure of these two buildings flow seamlessly around the existing infrastructure and maintain the original historic character of the neighborhood.
Owning residential property in this coveted neighborhood, especially with such historical significance, is a true value proposition for any investor. Occupancy consistently remains near 100% in the South End, and rental rates continue their steady ascent upwards, notwithstanding a minor correction during the initial throes of the pandemic.
Hunneman is pleased to present to the market a three-building portfolio: 26-30 Rutland Street, 105-117 West Concord Street (as featured below) and 475 Shawmut Avenue. This portfolio will be delivered 98% occupied, with stable cash flow and significant future upside potential. This is an incredibly rare opportunity to own not only an excellent investment, but an important piece of Boston, and American history.
For more information please contact:
Carl Christie, Executive Vice President | cchristie@hunnemanre.com
Dan McGee, Vice President | dmcgee@hunnemanre.com
Andrew Kaeyer, Executive Vice President | akaeyer@hunnemanre.com
