Jan
27

Sky Garages in Boston

sky-garages

Sky garages are becoming all the rage in the newest luxury buildings around the country. Noticeably absent from the list of cities featuring this unique home amenity, Boston. New York has had buildings with sky garages for a few years and now Miami is getting in on the trend with itss new building, The Porsche Design Tower.  The tower a 132 unit complex where 22 billionaires have already purchased units, will feature 3 sky garage elevators.

It’s not a total surprise that the sky garage concept hasn’t taken off in Boston. The city is headed in the opposite direction and is actively trying to get of parking spaces. One of the newest developments Lovejoy Wharf is proposing to build a 175 unit development with no parking. Boston typically requires 1 parking space for every 2  units in new developments. Lovejoy Wharf due to its close proximity to both Subway and Commuter Rail service is hoping that in a city that continues to push public transit and biking as the way to travel that it won’t impact them.

In a city where parking is at a premium, it’s surprising developers aren’t trying to install this unique feature. In the past year we’ve seen parking prices inch up even higher with the record still set at $300,000 plus for a single space in Back Bay, but this summer we saw two spaces sell for $280,000 a piece. Developers should keep this fact in mind when planning their  new developments.

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