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Urban downtowns becoming playgrounds for the rich?

Posted by Scott Van Voorhis August 6, 2010 07:00 AM

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It's unlikely the real estate downturn is going to put much of a halt on the transformation of downtown Boston.

Sure, it will be a while before we see another Mandarin Oriental - but the last decade left us with a glitzy condo tower on every corner.

Meanwhile, sales $1 million-plus condos in downtown Boston, after dipping during 2009, are back on the rise again. (For anyone mystified as to why luxury spending is rising in a down economy, check out this excellent piece by a former colleague of mine, Brett Arends.)

Anyway, here's an interesting interview in Fast Company with a critic of the downtown transformation - in this case subject is New York, not Boston.

Take a look - many of the same issues clearly apply to downtown Boston as well.

This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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