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There was a crowd packed inside the Project Place meetingroom Thursday night to sit in and listen to the details of the NationalDevelopments revised plan to turn the former Boston Herald building into InkBlock.It is rumoured to be a $125 million mixed-use project that wouldencapsulate a total of 471 apartments, a supermarket, more restaurants and amini-park.Around a quarter of the potential 471 apartments to be built will bemade available for rent.This move is widely interpreted by many as a steppingstone for the firm to take advantage in rise in demand for Apartments for RentBoston especially, as the city itselfhas a strong drawing power for apartment seekers mostly due to jobopportunities in the area.When interviewed, the architect remarked thatalthough the building is in the planning stages right now, there are plans inplace to make pedestrian connections so as to improve the overall street-scapeof the area.Once approved by the Boston Redevelopment Authority (BRA), NationalDevelopment will begin the construction of four apartment buildings on the6.2-acre site.Under the proposal the project would be built in phases and thefirm would build a nine-storey, five-storey, and two eight-story buildings intotal.The existing Herald building would be demolished; with the below-groundparking reserved for apartment dwellers.The projects architect also said theyintend to provide an urban solution, which basically involves the building ofwide sidewalks and planting of trees.Additionally, stores would be built alongthe length of Harrison Avenue and Traveler Street.The purpose for such a moveis so that it will make the streets much livelier and increase the humantraffic flow.This would effectively create a connection between the South Endand the Mass in Boston.On the other hand, a Bahrain-based alternativeinvestment firm has recently announced to the media of its plans to spend $250mthis year to buy properties in the United States for its Gulf clients.Wheninterviewed by the media on Sunday, the head of the investment firm toldreporters that they have spent close to $200m the previous year to purchaseproperties that they have identified situated in areas such as Miami, Bostonand Los Angeles.The firm is also focusing on buying apartments to takeadvantage of lower home ownership and preference for rentals in the US,especially in the Boston area.Other than that, the firm is planning on buyingoffices close to hospitals and is active in the Texas area.The chief of staffat the investment firm remarked that the US currently represents 50% of theglobal real-estate market todayFree Articles, and is one of the best optionsaround when diversifying your investments.
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