Major Boston-Area Mixed-Use Project Receives Green Light
ByArsenal Yards in Watertown, Mass., rendering
Watertown, Mass.—Construction on Arsenal Yards, a mixed-use development to be built at the site of a former Boston-area mall, is set to begin within six to eight months now that the Watertown Planning Board has given its approval to the 1 million-square-foot project.
Boylston Properties and The Wilder Cos. plan to redevelop and expand the former Arsenal Mall with 350,000 square feet of retail and entertainment, about 500 residences and 100,000 square feet of existing office space. The developers, both Boston-based real estate development firms, acquired the Arsenal Mall in 2013 for $70.5 million, according to the Boston Business Journal. Jonathan Bush, CEO of athenahealth, joined the development team the same year after his Watertown-based health care technology firm acquired the Arsenal on the Charles corporate center adjacent to the mall for $168.5 million, the business publication reported…