Boston Looking to Save Harbor-Side Real Estate

Have you moved to Boston’s harbor area or perhaps the South or North Shore or Cape lately? Perhaps what you didn’t consider was the inevitable rising tide. Fortunately for those in the city of Boston, the Boston Planning & Development Agency has a solution. An expensive solution.

The World Bank recently estimated that routine flooding from rising sea levels could be disastrous to Real estate in the area, with damages costing nearly $1.4 billion a year. $80 billion worth of Real estate is on the line, and without a solution the city could suffer from historic property damage and loss of economy. Climate Ready Boston, an advisory committee whose job is to predict climate change in the area, stated that sea levels could be up to three feet higher in 2070 than in 2000. The National Oceanic and Atmospheric Administration, on the other hand, estimated 8.2 feet higher by 2100.

Weighing the consequences

No matter which scenario you choose, the future looks grim without the addition of a sea wall. The barrier will be built across Boston Harbor in order to protect the city from riding tides and stormwater. At the moment, the wall will be four miles long and would cost tens of billions of dollars.

Currently all eyes are on the completion of Venic’s $5 billion, 1,200 foot barrier project to determine the next course of action for Boston.

Making a moving decision

So the question for residents and businesses is: Should we head to the suburbs?

It depends. The suburbs of Boston provide a cheaper tax alternative for businesses. Homeowners may also benefit from better schools and more space if they choose a home in Wayland, Weston or Sudbury as opposed to Beacon Hill. However, there’s always that desire to live in a historic, ocean-side area with panoramic views — and these views hopefully won’t change too drastically in the future.

Contact our professional Boston moving company today to schedule your next move to or from the city!

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