The Town Council approved purchasing a small piece of former railroad property near Arsenal Street that could be key to nearby new developments.
The Council approved spending $35,000 for the 3,300-square-foot parcel located at the end of Phillips Street.
The state got the first right of refusal when the Pan Am Systems/Boston & Maine Corp. placed the right-of-way for a the former Watertown Branch of railroad up for sale. On Dec. 2, the town received a letter saying that the state did not intend to purchase the land, and notified officials that “The Town of Watertown has been designated as the purchaser for the [railroad] parcel.”
The spot is also a key one because it is near Arsenal and Irving Streets – an area where new developments have been approved or are being considered.
At the Oct. 28 Council meeting, the owner of the adjacent Webster Trust property said they too want to buy the land. The complex is home to the Extra Innings baseball facility and other businesses including Imai, Keller, Moore Architects. The architecture firm uses the parcel for parking.
The Council, however, voted to look at purchasing the land because it could be key to future developments in the area, including the Greystar apartment and retail complex at the corner of Arsenal and Irving Street.