The Innovation District started as an effort by Mayor Thomas M. Menino to utilize 1,000 acres located on the Boston waterfront as a place for innovative professionals to collaborate. The intention of the Innovation District is to provide creative individuals with the tools and connections needed to improve the Boston economy by creating jobs and allowing a free exchange of ideas. Everything from co-working spaces to cost-effective office space for lease can be found along the South Boston waterfront.
Innovation District real estate has gained a lot of attention in recent history, and there is a reason that this area has been the focus of creative professionals and artists. The area that is in constant development offers office space, retail space, condos for sale and apartment rentals that make it a place of growth and opportunity, and businesses, entrepreneurs and motivated professionals can thrive by purchasing a condo, renting an apartment or leasing work space in Boston's waterfront Innovation District. Also, be sure to check out attractions in the Innovation District, as well as information on public transportation.
Strategically located for easy access near Logan Airport and major highways, the Innovation District has created over 5,000 jobs to help Boston residents grow professionally. Over 200 new companies have been launched through collaborative projects started over cups of coffee or connections made in co-working spaces in the area. Tech companies account for about 30 percent of the new companies that have been created in the district, but creative individuals who prefer to work in jobs related to design can also find plenty of opportunities.
Around one-tenth of the new companies that have been created in the Innovation District are non-profits that are aimed at bettering Boston. Nearing half of work spaces in the area are shared, and the co-working movement has allowed companies to save on renting office space while enjoying the opportunity to share business ideas with other up-and-coming businesses. One-quarter of these businesses employee fewer than 10 employees, so there are plenty of opportunities for innovative individuals to collaborate with others on a smaller scale.
While the Innovation District has already offered impressive benefits to the city of Boston, more growth is expected in the future. Companies that have taken notice of the area's ability to help businesses thrive have announced plans to move into office space in the area, and it is expected that over 4,000 new jobs will be created as a result.
Features of the Innovation District
One of the best things about the Innovation District is that it is continuously being built up, so creative individuals who would like to become involved by moving to or working in the area have plenty of opportunities to do so.
Office space is available in a wide range of configurations that can work for any company. Businesses that are new and just need a place away from home to develop ideas can benefit from shared work spaces. These office spaces allow two or more companies to share space, and each business is expected to work in the area on a schedule that divides access to the amenities of the professional buildings. Not only do these collaborative work spaces allow businesses to cut down on the cost of renting an office, but working in close proximity to other businesses also allows creative and driven professionals to share ideas and form connections that will help every company involved thrive in the community.
While companies that want to open a branch or settle into a Boston-based headquarters can find plenty of opportunities here, businesses from across the country can also take advantage of the unique concept of the Innovation District. Meeting spaces are available for rent across the district, and the proximity of the South Boston waterfront to Logan Airport makes it ideal for professionals who want to swap ideas in an area that is known for innovation.
Short-term office sharing and one-time meeting spaces allow business to launch and grow. Once a business has become established, there are long-term office space rentals available for companies that want to settle into the area.
Retail space allows newly-launched retailers and those that have been established for years to display and sell their goods in a busy area of Boston that is frequented by thousands of professionals each day. Retail space can be leased in buildings that are occupied by other retailers, dining establishments and entertainment venues to increase visibility of new stores for the success of business owners and managers. Due to the location of retail spaces in the Innovation District, these spaces also allow retailers to establish professional relationships with inventors, innovators and suppliers.
Condos for sale allow professionals and people who would like to stay close to the amenities of an innovative business center settle into the area. A focus on green living is prominent in many of the buildings that offer condos for sale, and the efficient design of these buildings that is coupled with the use of energy-efficient appliances can cut down on the cost of utilities for residents. Multi-function buildings that include condo units for purchase also contain office and retail space for the convenience of busy professionals who would like the option to work and shop close to home. Some condos even include work spaces within the unit to make getting ideas on paper as easy as walking down the hall.
Innovation District apartments are ideal for people who would like to stay close to their work space without committing to the move in the long term. Short-term apartment rentals are available for professionals who need to easily access their office space or collaborative work spaces. Long-term apartment rentals include units that feature combined living and work spaces for the convenience of professionals who do their best work in the comfort of home. Artist lofts are ideal for creative individuals who are working on new pieces for the latest gallery opening, while apartments that feature optional den spaces are able to create a functional office at home. As part of a district that focuses on creating and growing business opportunities, apartment buildings in this area offer community areas like cafes and media centers that are intended to provide residents with the opportunity to network in the comfort of their own building.