Greystar, a developer that is headquartered in Charleston, SC, has acquired a six-acre site in Watertown for $21.2 million. For more than 60 years, the site was occupied by M.J. Pirrolli & Sons, a building supply firm. They put the site on the market in 2012, and it is now expected to be developed into a multifamily complex over the next few years.
The new development will be designed by Team of Chelsea. The developer has been approved to include 282 apartment units in the development, which will be located at the intersection of Arsenal and Irving streets. It will also include 10,000 square feet of retail space and a 1/2-acre park.
No specific information regarding the types of apartments that will be housed here has been released. However, it is safe to assume that they will be luxury units, as that has been the trend in this part of the city for some time. The developer, Greystar, manages more than 400,000 apartment units across the country.
If you would like to eventually move into the new apartment development in Watertown, it pays to plan ahead. Do so by checking for the latest news regarding this project with Boston City Properties. We plan to keep track of the progress of this new project, so you will know precisely when to make your move. We also keep track of all major real estate deals and transactions around the city and report on them right here.
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