Curbed Boston reports a construction moratorium has been laid out for the cities of Boston and Cambridge. The Cambridge regulation has already kicked in as developers and contractors will have until March 26 to secure their projects. Boston enacted similar restraints on St. Patrick's Day and will remain in place for at least two weeks. Smaller projects, including single family homes are exempt.
Like with Boston, there are exceptions to the Cambridge moratorium. It does not cover construction of one-, two-, and three-family houses already permitted. It also does not cover emergency work or work essential for transportation or for safety—or for dealing with the coronavirus, including the construction of temporary shelters or health care facilities.
It and Boston’s come as a years-long, historic building boom in the wider region, which added tens of thousands of condos and apartments and millions of square feet of commercial space, appears to wind down. It already seemed the case at the start of 2020, if building permits were any guide, but the coronavirus has certainly accelerated the slowdown.
Projects already underway are expected to pick up after any moratoriums, but new ones will face a different financing reality and a different marketplace.
