Sunday, July 29, 2012

Times Are Changing...

Several months ago, I posed the question Is "SoBo" South Boston becoming the new South End? Well, I guess I was onto something. Just the other day it was reported by boston.com that Stephanie's on Newbury Street would be opening a third location at 11 West Broadway. According to the BRA, this will house 50 residential rental units and 8,000 square feet of retail. This is just the latest in trendy restaurants that have recently flanked the area. South Boston and it's Seaport is quickly becoming the go to place for restaurants. Restaurants has  been something South Boston was lacking but no more. Stephanie's joins celebrity chefs such as South Boston's own, Barbara Lynch and Ming Tsai. Tsai recently announced the opening of a new restaurant on the corner of Melcher and A Street. Stephanie's will be located at the former home of the Quiet Man Pub. I have to admit the Quiet Man had great pub fare but I do love Stephanie's! Even Starbucks is coming to West Broadway, this is the Seattle based company's 3rd location in South Boston. What does this say?? Starbucks has been eyeing South Boston since the early 2000's.

Michele McDonald for The Boston Globe
People are giving South Boston another look with the average selling price of $409.6 for a condo, up 15%  from 2010 for the period ending 6/30/2012 (MLS).

On South Boston's waterfront, the Cresset Development which opened Liberty Wharf in just 2011 is looking to cash in and is expected to get more than $60 million for the three building complex as reported by the Boston Globe. Liberty Wharf draws crowds 7 days a week all year long. It is reported that over 80 parties have requested marketing packages on Liberty Wharf. South Boston is quickly becoming one of the most dynamic and diverse areas of the city. It is so exciting and just keeps getting better!

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