Can it be done?
With gentrification sweeping many Boston neighborhoods, the City of Boston is hoping to protect Uphams Corner from its path. How do they plan on doing that? Well, the city, along with the Dudley Street Neighborhood Initiative have bought up some property in the neighborhood with the hopes of turning it into affordable housing, community and retail space. The ultimate goals is to fend off high rent prices and keep longtime residents in the neighborhood.
So will it work? According to the Boston Globe, the city tried promoting economic development in Dudley Square by investing $120 million into the Bruce Bolling Building. 500 BPS employees moved into the space. Two tenants – Dudley Dough and Tasty Burger have already closed due to lack of business.
It seems like there are good intentions with this program but it could be problematic. Who’s to say that if the concept “fails,” will the city then take the roll of the developer and sell to the highest bidder in the future. We also need to to clearly define what exactly “affordable” means.
What do you think?