Things are really starting to pick up speed with the redevelopment of the old Arsenal Mall in Watertown. Boston City Properties recently learned that upon completion, the revamped development will sprawl over more than 1 million square feet. A mixed-use development, it will include more than 500 apartments, including a selection of affordable apartments. We expect this development to revitalize this section of Watertown--and for the apartments to be in strong demand when they become available. Learn more about this project and what to expect by reading on below.
Watertown's Arsenal Mall has seen better days. Locals have clamored for something new for some time, and it looks like they're finally getting their wish. The project's developers, Boylston Properties and Wilder Companies, are hoping to complete phase one, which includes the retail portion of the project, by fall of 2018. The second phase, which will include the apartments, is expected to open in 2020 sometime. In the meantime, the area where this is happening is awash in construction equipment and will be for the foreseeable future--especially since this mixed-use development is expected to change the face of this section of Watertown.
When it is finished, Arsenal Yards, as the development is being called, will offer more than 350,000 square feet of retail and entertainment. The Home Depot that is currently at the site will remain, but several major stores will be added. The developers already expect a 30,000 square foot specialty grocery store to be included in the retail portion of the development. We have also been told that there will be a "wine superstore," which is sure to be a big hit. The development is also slated to include a multiplex cinema and six "chef-driven" restaurants, which we assume means that they a bit more upscale in nature.
The massive modernization of this old-time mall is creating a lot of buzz and excitement in Watertown and greater Boston. The project calls for replacing a large, aging section of the mall as well as most of the huge, sprawling parking lots that surround it. Those parking lots make the area look a bit like an eyesore, so this will be a welcome change for those who live in the area. As a mixed-use development, Arsenal Yards will also include office space.
One of the benefits that developers are promoting about this project is the fact that it will create easier access to the 12-acre Arsenal Park that is situated on the Charles River. As with so many development plans in the city, this one is somewhat contingent on making streetscape improvements. The city is smart to require these enhancements, as it makes the city as a whole a lot nicer. The prevailing trend is to make things easier for pedestrians too, so allowing easier access to the park will be a huge plus.
The developers acquired the site of the upcoming development along with the adjacent Harvard Vanguard Medical Associates building for $70.5 million back in 2013. So far, no specifics regarding the layout of the apartments have been released. However, the developers have reported that there will be 428 market-rate apartments and 75 affordable apartments. We are assuming that these apartments will be luxury apartments, so you can expect them to be loaded with many fine features, including gourmet kitchens and high-quality flooring. Based on mockups of the building, it looks like apartments will have large windows, so they will bring in a lot of natural light.
It is highly unlikely that anyone in Watertown will mourn the passing of the old Arsenal Mall. Its new incarnation will be so much nicer than what was there before, and it will breathe new life into this part of the city. The old parking lots, which were falling apart, will be replaced by a stunning mixed-use development that will include everything that residents need. If you are looking for an apartment in a mixed-use development and can hold off until 2020 or so to move in, this might be a great option for you to consider.
Should you decide to rent an apartment at Arsenal Yard when units become available, connect with Boston City Properties. We will keep a close watch on the progress of this project and will keep you in the loop about when it is slated to be finished. When the time comes, we will give you free access to our searchable real estate listings so you can quickly find out what is available in this development. We also have experienced real estate experts in Watertown who can take you to look at apartments when you are ready to proceed. For more information, please call Boston City Properties.
Our website provides FREE access to the largest real estate database in the Boston area! This database includes not only our listings, but literally ALL of the largest real estate brokerages in the Boston area post listings to the system as well!
Listings Updated Daily!
