Thanks to State Rep. Tom O’Brien and his bill granting tax breaks to those who film in Massachusetts, our local economy has a bright spot in these dark economic times.  Many questioned him, and rightfully so, however he showed great foresight with this bill.  Hollywood has responded to the tax break better than anyone could have expected.  They gave us a little taste of what the future held last summer as we were able to witness a few major productions being filmed on the streets of Boston.  Who would have imagined that Plymouth Rock, a 1,260,000 square foot, 282 million dollar, full fledge movie studio would be about to break ground in Massachusetts… 

Matt Damon, Mayor Menino and Martin Scorsese on the set of The Departed”
Photo Complements of cityofboston.gov

No longer are the only A list celebrities in Boston the girls following Patriots quarterback Tom Brady around.  Daily we see new celebrities walking the historic streets of Boston spending money and supporting our local economy.  Don’t forget for every A lister we see, there are many other members of the production out there that none of us would be able to pick out of a crowd. 

 
Mayor Menino, Tim Robbins, Lawrence Fishburne, Kevin Bacon and Clint Eastwood
on the set of “Mystic River” Photo Complements of cityofboston.gov

When Hollywood travels to Boston to film, they bring an extensive crew with them.  The entourage consists of workers like set builders all the way up to celebrity icons and movie executives, many of whom decide against living in one of Downtown’s high end hotels.  Many of these people have sought out short term furnished apartments in Boston.  They are not looking for a corporate feeling.  With budgets in excess of $30,000/mo for the A listers, we are seeing some of the highest residential rents in Boston’s history.  However the major impact on Boston’s rental market is being affected by the people in the 2nd and 3rd tiers of the Hollywood movement.  They are the ones scooping up the $5,000/mo rentals, leaving little to no inventory.  The short term rental market in Boston has historically been fluctuative.  With back to back to back movies being filmed in Boston, a new stability has been established, placing units in high demand with record price tags.