Owner of Arsenal Project Buys Another Property in Area

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Boylston Properties, one of the owners of the Arsenal Project, has purchased property down the street from the mall.

The group has agreed to purchase a 10-acre parcel at 480 Arsenal St., according to a report on Banker & Tradesman.

It is currently used by biotech company 480 Biomedical, but it could be rezoned for residential use, Boylston Properties President William McQuillan told Banker & Tradesman.

Along with the mall, the group has purchased the former Charles River Saab dealership and has plans to build a six-story Residence Inn by Marriott hotel in that location. (See details here).

When they purchase the mall, Boylston Properties and partner Jonathan Bush – the CEO of athenahealth – said they want to upgrade the mall, bring in restaurants and add housing.

See the whole Banker & Tradesman story by clicking here.

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