Amazon: Is South Boston In the Running?

The deadline to put in bids for the chance to be the home of Amazon’s new HQ2 passed in October.

Among the contenders is none other than Boston.

Similar to how Boston provided incentives to GE to move to South Boston's Fort Point channel, Boston prepared a similar bid for the retail giant to give them incentives in order to entice it to make Boston its home. 

Though there are several different sites being speculated as the best location for the company in Boston, South Boston is on the list—the 83-acres of warehouses and rail yards in Widett Circle, to be precise, a portion of which has recently been listed for sale and a bidding war is expected.

Amazon is one of the top five most valuable companies in the country, so it’s no surprise that whichever city it chooses will benefit from its success in the form of economic growth. 

Not only would Amazon’s arrival in Boston bring 50,000 new jobs and $5 billion in construction to the city, but it could also encourage other large businesses to move to the city, as well. 

If Amazon were to come to Southie, then it could certainly mean increased property values for owners and enhanced amenities, as the neighborhood rushes to accommodate the thousands of new workers. One report from the company stated that the average salary for the positions at the new HQ2 would be over $100,000, but a $100k salary alone won't get you much in the neighborhood any longer.

Along with the benefits the company would bring, the city itself would also be incentivized to update their infrastructure and residential neighborhoods in order to accommodate all the increased traffic and workers.

Amazon will announce their chosen site in Spring 2018. Stay tuned.

However, it might not be a great idea to get your hopes up about Amazon coming to Southie even though Boston is a front-runner.

First of all, over 100 different cities have reported that they’re putting in bids. Even if Boston is chosen, then it’s still unlikely that Southie would be the chosen site. There has been talk of Suffolk Downs in Eastie being the preferred site, due to its size, proximity to the blue line, as well as the airport, all of which are things that Amazon has been demanding of its future HQ. 

Even the New York Times has pointed out that Boston’s going to have to offer heavy incentives for Amazon to choose the city over potentially more desirable sites, like Denver Colorado. 

Only time will tell which location Amazon will choose. Hopefully Boston’s leaders have done what they can to bring the company, and all its accompanying benefits, to the city because if Bezo's demands from Boston are anything like what he demands out of his employees then Boston's leaders will be in for one hell of a ride at the negotiating table.

------------

Have any questions? As an owner, is now a right time to sell and take equity off the table? For a free consultation or if you have further questions, please post them in the comments below, or message me directly.

Looking for more info about all the new development in South Boston? Click here

Schedule a meeting or chat with me here.

------------

Chris Fitzpatrick is a licensed real estate broker in South Boston. Chris prides himself on his knowledge of South Boston nuances, off-market listings and new development projects that are rapidly shaping the neighborhood. He focuses on adding value in the form of creating proprietary real estate market data, predictive analytics, and technology helping sellers, buyers, and developers. Chris can talk your ear off about the benefits of yoga, loves to travel, is passionate about entrepreneurship, and loves rooting for the underdog.