Both Demand and Rent Prices are on the Rise in Boston's South Suburbs

You don’t have to be an expert in the real estate industry to know that rents are rising in locations that are seeing peek demand. Economics 101: when demand is high, so will be the price. That couldn’t be a more fitting depiction of the multifamily apartment industry in the city of Boston, particularly in desirable places such as South Boston, Back Bay, West End, Beacon Hill, and the South End. It seems like every month a new large-scale luxury development is going up in the city. Rents in many of these new communities don’t start any lower than $3,000. With many young, post-college students struggling with a tough job market and burdened by large amounts of debt are finding it tougher to relocate to the city than generations past. So while rent within Boston remains far higher than any other neighborhood in the state, the actual largest amount of rent growth in the state is taking place in the South suburbs, a statistic that many find surprising.

Recently, Tim Logan of the Boston Globe wrote an article about the rise in both demand and price point in suburban locations south of Boston. At first glance you’re probably thinking the term “south” is rather vague. Well in fact this rent growth and demand spike can be seen although out south suburbs stretching from Quincy, down to Plymouth, and going as far west as Franklin and Bellingham. Logan cites quotes from regional executives that highlight those are who are priced out of the city and its immediate surroundings, are driving up prices in outlying markets in places such as Quincy and Dedham. Another outside factor is the growing hassle when it comes to commuting in the Greater Boston area. Many companies with centralized offices off of Route 128 or 495 are becoming more popular for job seekers as there is much less stress in commuting strictly suburb to suburb.

The numbers of rent growth and demand aren’t by any means surprising. Rather, they are just another local real estate trend to take note of it. Where we go from here, and what region will see this growth next, we shall see!

CMC Continues to Rack Up Awards for Sustainability

We are happy to announce another successful achievement in sustainable multifamily management practices here at Corcoran Management! McNamara House, an affordable apartment community in Allston was honored by the Environmental Protection Agency ENERGY STAR and received a Certification for Superior Energy Efficiency. McNamara House is just one of the growing number of Corcoran communities that are being recognized by government agencies for a commitment to sustainability and energy efficiency.

Along with Parkside Commons, The Commons at SouthField, Canterbury Towers and 50 West Broadway, McNamara House is recognized for a number of recent upgrades and overhauls to increase efficiency and keep costs down. Some of the improvements include fitting the community with LED lights, low-flow water fixtures, and the addition of a condensing boiler for more efficient heating. The heating system’s new ability to use discharged waste in the form of steam to provide recyclable heat for residents is a groundbreaking improvement, especially for a building as old as McNamara House.

As educational opportunities for sustainable maintenance and construction continue to become more relevant, Corcoran will be on the front lines for promoting these initiatives! 

TWO Corcoran Communities Featured in MFE's Top 5 Massachusetts Rankings!

Corcoran Management Company is honored to announce that 50 West Broadway in South Boston, and The Ledges in Weymouth were each recognized as Top 5 “Properties in Online Reputation in Massachusetts” in 2014 by National Multifamily Executive, a leader in multifamily news and analysis. Of all of the apartment communities in the state of Massachusetts rated for resident satisfaction on social media sites, 50 West Broadway finished 2^nd, while The Ledges came in 4^th, a tremendous accomplishment by both communities! On a 0-100 scale, the national average is a 52, both 50WB and The Ledges scored just a tick under 90.

These amazing results would not be obtainable without our dedicated staff members and the fabulous residents they serve.  We thank you all!

A resident’s voice is the most important voice in your apartment community. That statement rings true before, during, and even after a resident has lived at your community. In today’s mobile-driven scene, review websites and customer feedback are integral parts in a business’ success. This is not just exclusive to the multifamily industry. Review sites such as Yelp, FourSquare, GrubHub, and others control the voice of the audience, and that audience dictates what the public will think of any business.

Since 1951, Corcoran Management has always strived to provide the best experience for residents and their friends and families. Over the last few years we have expanded our outreach and commitment to resident satisfaction as it is conveyed in social…..and the results have clearly shown!

Corcoran Management - A Leader in the Energy Efficiency Revolution

For the last seven years, Corcoran Management has been a pioneer in the New England multifamily scene when it comes to promoting and executing "energy efficiency" at our apartment communities. The past few decades have seen increased education and the ever-growing importance of sustainability and the protection of the environment and ozone. Whether it’s the construction of a new luxurious apartment community or the revitalization of an older community, Corcoran’s construction and renovation practices are focused on using recyclable materials, producing minimal pollutants, and using energy-star approved appliances.

John Corcoran, our Energy-Efficiency Manager, has been working hard these last few years to increase Corcoran’s sustainable footprint in the multifamily industry. Canterbury Towers, an affordable based apartment community in Worcester, MA joins publically-managed communities from cities such as Denver, Houston, Atlanta, and Newport News as nationwide leaders in environmentally efficient multifamily design. Canterbury served as one of Corcoran’s “showcase projects” to demonstrate practices in using lighting, HVAC, and solvents that are more beneficial for the environment.

We are honored to be recognized by the U.S. Department of Energy and are privileged to be looked at as a leader in making the multifamily industry more sustainable. With LEED certified communities such as Parkside Commons, The Commons at SouthField Highlands, and now The Commons on The Green, Corcoran Management will continue to invest resources towards sustainable building practices! Stay tuned for more updates on our future “green” initiatives. 

SatisFacts Names Corcoran Management a "2014 National Company of the Year in Resident Satisfaction"

We are pleased to announce that for the second year in a row, Corcoran Management Company has been named one of the 2014 National Companies of the Year in Resident Satisfaction by SatisFacts! SatisFacts is the nation’s largest residential survey company, who each day sends out surveys to residents all throughout apartment communities in the United States. Residents provide their responses to questions about all aspects of the community where they live. From staff friendliness, to maintenance response times, to the cleanliness of the community, SatisFacts compiles a ton of data which in the end tells determines the chief leaders for resident satisfaction in the multifamily industry.

At Corcoran Management we strive to present the most professional customer service to our residents. Each member of our managerial, leasing, and maintenance staff works to assure that all the needs and expectations of our residents are met in a timely and respectful manner! 

Giving Thanks to The Fabulous Maintenance Teams at Corcoran Management!

Only two days remain in what has been one of the most stressful, difficult, and challenging months we’ve ever seen when it comes to dealing with Mother Nature. The total winter snow accumulation has passed the 100” threshold, something that has only been seen once before in recorded history! From the rural towns outside of 495 to the “parking war-zone” on the streets of South Boston, we’ve all been affected by the snow’s overwhelming reach. At Corcoran communities all throughout Massachusetts, Rhode Island, New York, and New Hampshire, dedicated maintenance staff members have been busy around the clock dealing with insane amounts of snow, ice dams, dangerous black ice, and walkway clearing. Whether it’s a small community of 60 apartments, or a larger community with over 500 residences, it takes around-the-clock hard work and dedication to clear out the amounts of snow that we have seen in the last month.

On behalf of all the residents, employees, and partners of Corcoran Management Company, we want to take a minute to thank all of our maintenance crew members for all of their efforts and accomplishments in February 2015 and throughout the winter! 

Congratulations to The Commons on The Green: Now an LEED Gold Certified Apartment Community!

We are excited to announce that another community within the Corcoran family has been recognized as a leader in environmental-efficiency by the United States Green Building Council! The Commons on The Green, the sister property to 2013 LEED Silver recognized community The Commons at SouthField Highlands, has been honored with being a LEED Gold building! Throughout the planning and construction process Corcoran worked with the architects, engineers, landscape designers, and general contractors in assuring The Commons on The Green would be built to the highest environmental standards. Parkside Commons, consisting of 238-apartments in Chelsea, was the first large scale multifamily community in New England to be recognized as LEED certified back in 2009. So what makes The Commons on The Green stand out amongst the rest?

• Sustainable site design and planning to support the surrounding habitat
• Close proximity to public transportation, cutting down on automobile emissions
• Drought tolerant plantings and drip irrigation were incorporate in the outdoor landscaping to save water usage
• Within the homes, dual flush toilets, low flow devices, and water filtration were major factors in successful water usage
• Recycling programs and green cleaning practices
• Eco-friendly and energy efficient construction materials
• All appliances and lights are Energy Star rated
• Adhesives, cleaning materials, low V.O.C. paints, and carpeting were all selected with care and conservation in mind
• 100% smoke free throughout interiors and everywhere on the grounds

photo via www.hscbuilders.com

It's an honor to be recognized once again as a leader in promoting, developing, and achieving LEED certifications at new communities that Corcoran Management develops. Aside from the environmental benefits, The Commons on The Green also features luxurious features and amenities with ultimate convenience being located next to the South Weymouth MBTA Commuter Rail! 

Staying Safe During the Blizzard of 2015

image via: www.theconservativetreehouse.com

Like Cape Cod in the summer, and apple picking in the fall, a blizzard-esque storm in New England is a yearly tradition. This year is no joke either, the so-called “Blizzard of 2015” is expected to begin tonight at roughly 7:00PM and continue until 1:00AM on Wednesday. Massachusetts Emergency Management Agency is calling for all drivers to be off the road tonight and considering overnight driving as “life threatening”. Counties throughout Eastern Massachusetts can expect anywhere from 20 – 30” and possibly even more in total accumulation. South Shore and Cape Cod residents will also have to deal with extremely high and dangerous winds that could see gusts up to 65 MPH. We wanted to provide a simple checklist for how you can be prepared for the storm this year. Below are some of the suggestions from the American Red Cross on how you and your family can prepare for a storm that could last for a couple days:

Water: provide yourself with at least a 3-day supply of drinking water. One gallon per person per day

Food: at least a 3-day supply. Non-perishable, easy to prepare foods

Flashlight: A must need in case the power goes out. Also be sure to prepare with extra….

Batteries: aside from a flashlight, batteries serve a number of simple household uses

First Aid Kit: walking outside could be slippery and dangerous, it never hurts to have anti-biotics on standby

Fully-Charged Cell Phones: If the power goes out, the only source you will have left is your cell phone, which die quite frequently

Full Tank of Gas: A very underrated part of preparation. Depending on a certain storm it could serve a benefit to have a full tank in case you have to evacuate or head to a safer location at a later point

Extra Cash: Cash is king, especially in a storm. While ATMs may go down and credit card machines won’t be able to process, it never hurts to have the most simple form of currency

Warm Clothing & Gloves/Hats: Even if your heat is top-notch power outages may not allow you to use the heat. Keep warm with extra layers, a pair of gloves, and a winter hat. 

Your All-In-One Skiing Guide to New England

(image via Boston.com)

Just like lobster in the summer, pumpkin in the fall, and the start of baseball season in the spring, winter is a season that has a tradition that draws interest from many throughout the New England region. Each year, hundreds of thousands of folks hit the slopes at the many mountains throughout Maine, New Hampshire, and Vermont. While there are some good local skiing options nearby such as Ski Bradford and Mount Wachusett, the purest and most majestic skiing and snowboarding is done up north. We’ve put together a guide of some of the region’s favorite and go-to choices for a get-a-way weekend.

New Hampshire

Wildcat Mountain: When standing atop the 4,062-foot summit of Wildcat you might forget that you’re actually there to ski rather than sight see. Panoramas of the White Mountains and Mount Washington serve as a breathtaking backdrop for one of their 49 trails. It’s a perfect combination of beginner, intermediate, and expert trails. Also be sure to enjoy some of their warm food and cold beverages in their slope-side lounge.

Wildcat Mountain, Route 16, Pinkham Notch, NH 888-Ski-Wild

Cannon Mountain: Set right off of I-93 in Franconia, NH, Cannon Mountain is an easy-to-access yet challenging mountain that is always a great time. Relax on your way up the mountain in their tram which takes you all the way to the summit for majestic views and some of the best powder in the White Mountains. Cannon also runs a number of deals throughout the weekday for discounted lift tickets.

Cannon Mountain, 260 Tramway Drive, Franconia, NH 03580 603-823-8800

Vermont

Mount Snow: Home to one of the largest skiing landscapes in New England, Mount Snow is large enough to satisfy the most seasoned veteran and to teach a rookie the basics of going down the mountain. On the outskirts of Green Mountain National Forest and near the New York border, Mount Snow offers one of the best all-around skiing and lodging experiences. With about 100 trails and plenty of lodging it’s the perfect place to escape for the weekend.

Mount Snow, 39 Mount Snow Road, West Dover, VT 05356

Stowe Mountain Resort: For those looking for the ultimate experience that blends skiing, shopping, fine dining, spa treatments, and luxury lodging, Stowe Mountain and the town of Stowe are perfect for you. There are over 45 restaurants both on the mountain and in the town. Consistently honored nationwide as a top winter destination, you would be hard pressed to be disappointed in Stowe.

Stowe Mountain Resort, 5781 Mountain Road, Stowe, VT 05672

Maine:

Sugarloaf: Home to some of the most extreme terrain in the region, Sugarloaf offers the only lift-serviced, above-tree line skiing in the East. Designed similar to resorts in the western part of the United States, Sugarloaf offers an open-style skiing experience with wider and larger trails. Sugarloaf also presents the most unmatched back country skiing in the area.

Sugarloaf Resort, 5092 Access Road, Carrabassett Valley, ME, 04947

Sunday River: Maybe the most notable, recognized, and publicized of any mountain resort in New England, Sunday River simply has it all. Featuring 16 lifts, and 135 trails, Sunday River has enough various terrain to challenge riders of any difficulty. Also home to one of the region’s best golf courses, Sunday River offers a great variety of stay-and-ski packages for individuals and families. Plan ahead however, it’s between a 3 and 4 hour drive to get up to Sunday River.

Sunday River, 97 Summit Road, Newry, ME 04261