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Old 05-23-2017, 10:58 AM   #8721
bigpicture7
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Re: Millennium Tower (Filene's) | 426 Washington Street | Downtown

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Originally Posted by FenwayResident View Post
Not only are they dedicated readers, they are probably the ones paying the bills as well.
I don't disagree, but selling people what they want to hear is a sketchy way to run a news business (clears throat)...
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Old 05-23-2017, 11:04 AM   #8722
JumboBuc
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Re: Millennium Tower (Filene's) | 426 Washington Street | Downtown

This narrative isn't present only in the Globe or among the "angry old-guard". Plenty of my young, progressive, millennial friends who never read traditional media discount the effect that new condo buildings have on overall housing availability by casting them aside as just "empty buildings for Chinese billionaires". You even hear this logic applied to apartment buildings, which by their nature cannot possibly be used by tenants to store wealth.

This is all despite the fact that all evidence shows that the vast majority of new condo units in Boston are occupied by "locals" of one form or another.

A lot of people have a lot of difficulty admitting that the Greater Boston area is chock full of well-paid workers and well-off retirees who can easily afford dropping a million-plus on a condo. They've convinced themselves that everything is doom and gloom, and when the local building boom provides evidence against their narrative they explain it away with phantom "Chinese billionaires".
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Old 05-23-2017, 11:30 AM   #8723
odurandina
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Re: Millennium Tower (Filene's) | 426 Washington Street | Downtown

The also can't accept the 'moving up' reverse domino effect that luxury highrises not only use the least amount of available land, but create vacancies at all levels of the marketplace. Are they disingenuous assholes or just totally galactically stupid?
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Old 05-23-2017, 11:38 AM   #8724
FenwayResident
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Re: Millennium Tower (Filene's) | 426 Washington Street | Downtown

Quote:
Originally Posted by JumboBuc View Post
This narrative isn't present only in the Globe or among the "angry old-guard". Plenty of my young, progressive, millennial friends who never read traditional media discount the effect that new condo buildings have on overall housing availability by casting them aside as just "empty buildings for Chinese billionaires". You even hear this logic applied to apartment buildings, which by their nature cannot possibly be used by tenants to store wealth.

This is all despite the fact that all evidence shows that the vast majority of new condo units in Boston are occupied by "locals" of one form or another.

A lot of people have a lot of difficulty admitting that the Greater Boston area is chock full of well-paid workers and well-off retirees who can easily afford dropping a million-plus on a condo. They've convinced themselves that everything is doom and gloom, and when the local building boom provides evidence against their narrative they explain it away with phantom "Chinese billionaires".
Yeah, I've had similar experiences among my group of friends. There are tons of positions in Boston paying well into six figures. Finance, legal, pharma, healthcare, education (administration/professors), and tech are the ones that immediately come to mind.

For a couple with each person making $100k-$200k, a million-dollar condo isn't that crazy to afford. But it's easier to blame Chinese billionaires than a lack of supply, a multitude of high-paying jobs, and one's inability to secure said jobs.
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Old 05-23-2017, 12:37 PM   #8725
jl326
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Re: Millennium Tower (Filene's) | 426 Washington Street | Downtown

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Originally Posted by odurandina View Post
The also can't accept the 'moving up' reverse domino effect that luxury highrises not only use the least amount of available land, but create vacancies at all levels of the marketplace. Are they disingenuous assholes or just totally galactically stupid?
Hmm.. Why not both?

Quote:
Originally Posted by FenwayResident View Post
Yeah, I've had similar experiences among my group of friends. There are tons of positions in Boston paying well into six figures. Finance, legal, pharma, healthcare, education (administration/professors), and tech are the ones that immediately come to mind.

For a couple with each person making $100k-$200k, a million-dollar condo isn't that crazy to afford. But it's easier to blame Chinese billionaires than a lack of supply, a multitude of high-paying jobs, and one's inability to secure said jobs.
Not only that, but I do know of instances where local developers have expressed their preference to be that their condos are purchased by those who intend to spend at least a reasonable amount of time per year there and/or those who have some roots locally. Of course, if push comes to shove, the almighty dollar wins, but the intent of some of these luxury developments can been seen in how the marketing and is focused more locally or regionally so long as the demand exists.
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Old 05-23-2017, 05:48 PM   #8726
atlantaden
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Re: Millennium Tower (Filene's) | 426 Washington Street | Downtown

Uhm, it's not just the Globe commentators who toss out snarky remarks about those living in the new luxury towers like the Millenium, it happens here on this forum at times. Snide
remarks casually tossed out, comments seem especially directed, many times, at those living in or hanging out in the Seaport and patronizing some of the higher end restaurants, as well as future patrons of Wynn's casino. Also, derisive comments made towards residents of some of the poorer areas of the city and neighboring towns where new development is spreading, wondering who would move there in such an area.
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Old Yesterday, 09:41 AM   #8727
carpet
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Re: Millennium Tower (Filene's) | 426 Washington Street | Downtown

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It's one thing if the cars parked in front of MT have nothing to do with MT or its residents, but another thing altogether if they do. Because as far as I understand it, the area in front of Franklin St. that you speak of has been designed and is being used for MT. I believe the building is valet-only. Residents and guests can not self-park into the garage and must call down to have their cars brought out as well. I imagine there are also various vehicles bringing services, deliveries, etc. to the building that are being temporarily parked there as well.
The building is valet, but not exclusively valet. Residents can drive their cars into the garage and give the keys to valet there and take an additional "rear" non-loading elevator (good for those who don't want to be seen by the rest of the residents).

And on a separate note to those who think this building is empty and just a place for Chinese to "park" their wealth, I happen to be in a building at least twice a week and I see people coming and going every 2-3 minutes. Very few families, but a lot of younger crowd.
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