The owner of Boston’s One Lincoln St. plans a major repositioning of the 36-story office tower following the departure of State Street Corp.’s headquarters, including a new 25,000-square-foot terrace in the sky with basketball and tennis courts and outdoor dining.
Industry observers have described an “amenities war” among multifamily properties in cities like Boston, New York City and San Francisco. Properties are adding everything from pools to pet spas to golf simulators, but how often are these amenities actually used?
Boston’s rapidly rising population is spurring an apartment boom of discerning renters who expect more in apartment amenities, and the developers and owners who respond to these market demands are reaping the reward of premium rents.
