How much space does one really need to live comfortably? Evidently for many it isn’t much. Innovation Units or Micro Apartments are classified as being under 450 square feet and more and more are starting to become part of the local housing market. The Boston Redevelopment Authority is regulating this product niche, however. As of now, unless a unit was “grandfathered in”, new Micro Apartments are only able to be built in the Seaport’s Innovation District on the Waterfront. BRA is keeping a close eye on the tight living quarters before they decide whether or not to expand into other parts of the city.
If you are thinking that the smaller home footprint would result in a smaller monthly rent, that may not necessarily be the case, especially with the opportunities for the most part only existing in the Seaport. Some units can fetch $2,000+ for monthly rents and range in size anywhere from 280 to 450 square feet.
One of the biggest advocates for the Micro Apartment growth in Boston is the architect firm of ADD Inc./Stantec. They have designed 200+ Innovation Units in Boston and they hope for the restrictions on the apartment locations will be lifted and offered all around the city. Their design is being implemented at the Residences at 399 Congress Street that will be 414 total units of which 60 will be Micro Apartments ranging from 325 – 450 sq ft. ADD Inc./Stantec has had a hand in many luxury buildings around the city such as 315 on A, Pier 4 and The Victor.
Boston continues to to introduce unique and innovative real estate opportunities and Micro Apartments are just the latest in a long list.