Those looking for relief from the high rents in the Hub's new luxury apartment buildings have an option — cross the Tobin Bridge into Chelsea and pay half of what you'd pay downtown.
There's a wave of new development in Chelsea, with lots of hotels, two retail centers, a new FBI regional headquarters as well as an influx of market-rate apartments. A Silver Line expansion from South Station will bring four new stations to Chelsea starting in 2016, and a new MBTA commuter rail station will be built.
Just off Bellingham Square, the so-called Box District — a former industrial area along Library and Highland streets and Gerrish Avenue once dominated by cardboard box manufacturers — is seeing three market-rate projects totaling 149 units developed by Boston's Mitchell Properties. The 53 units at Atlas Lofts are fully leased, and the 46-unit Flats at 44 just opened this week.
The units at Flats at 44 feature granite counters, bamboo floors and in-unit laundries, and the complex has a fitness center, common roof deck and free parking. Studios starting at $1,315 per month, one bedrooms at $1,550 and two bedrooms at $1,975 are attracting price-sensitive renters.
"People coming from Boston say, 'Wow,' " said Romell Kidd of HallKeen Management, property manager for Mitchell's Chelsea properties. "It's not a utopia here, but renters are savvy and can see the pros and cons. And they see that they can get a great alternative pricewise here in Chelsea."
Kidd says 30 percent of the Flats at 44 units are leased.
"I'm telling people that if you want an urban feel and save some money on rent, get into Chelsea now," said Courtney Mathiowitz, marketing manager for HallKeen.
Mitchell's third property, The Flats at 22, a 50-unit complex, is slated to break ground this fall.
Other luxury apartment developments are near completion and even expanding.
One North, a 230-unit high-end apartment complex just off the Tobin Bridge approach, is wrapping up construction one block from Chelsea's commuter rail station.
These new apartments, built by the same developer who did Maxwell's Green in Somerville, have high-end amenities such as an indoor pool, yoga studio and even doggie day care. Studios at One North start at $1,395, one bedrooms at $1,530, two bedrooms at $1,850 and three bedrooms at $2,450. Outdoor parking is free for one vehicle, and garage parking $75 extra per month.
One North has 20 percent of its apartments leased ahead of its opening next month.
"We're drawing young professionals priced out of the Boston/Cambridge market and empty nesters from the North Shore looking to live closer to the city," said Damian Szary, a principal at Gates Residential, which is co-developing the project with Transdel Corp., another Hub developer. "We're bringing the same level of quality as the new Hub luxury buildings at half the price."
Szary says that the project's second phase will add another 220 units to One North, with plans to break ground by the end of the year.
Federal Realty Investment Trust — the developer of Assembly Square in Somerville — is adding a 30-unit second phase to Chelsea Place, a 56-unit high-end apartment complex along Route 16 adjacent to its Chelsea Commons retail development. The first phase, which opened in July, has a fitness center and community room, opens out onto Mill Creek Park and is fully leased — with one bedrooms renting from $1,470, two bedrooms from $1,780 and three bedrooms from $2,155.
The property is getting a lot of residents from out of state, including young professionals, young families and foreign graduate students, according to Jerry Lemmon, senior vice president of WinnResidential.
"The reason why they're coming is that Chelsea is a great location for convenience to Boston, Logan airport, and shopping and dining on Route 1."
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