Planning Board Approves Fourth Phase of Arsenal Yards, Including the Plaza

The fourth phase of the renovation of the Arsenal Mall, which will create a plaza surrounded by restaurants and retail stores with apartments on top, got the approval of the Planning Board Wednesday night. 

The two main sections of Phase 4 of the Arsenal Yards project will be built around an area that will be shared by pedestrians and vehicles, and is designed to allow outdoor seating for restaurants that look out on the area. The whole area is designed to be blocked off to traffic and used for events such as a fair, a farmer’s market or other gatherings, the developers told the Planning Board. Building C will have 27,500 sq. ft. of retail and restaurant space on the ground floor, with 130 apartments on five floors of housing above.

Watertown’s I-Cubed Application Still Being Analyzed by State

The application for $25 million in infrastructure projects in Watertown, and on state lands in town, in return for more jobs and growth by Athenahealth, remains in the hands of State officials. 

The I-Cubed project, which is a partnership between Athenhealth, the Town of Watertown and the Department of Conservation and Recreation (which controls the areas around the Charles River), is being examined by the Department of Revenue (DOR), according to a memo sent to Town Manager Michael Driscoll. The memo sent in an email from attorney Stephen W. DeCourcey of Lynch, DeSimone & Nylen, who represents the Town in the I-Cubed project, reads:
“The Department of Revenue has not completed its financial analysis of the new tax revenues that are expected to be received as a result of Athena’s economic development project on the Arsenal site. This analysis is a prerequisite to the Commonwealth’s approval of the joint application. The DOR is expected to complete its analysis in the next few weeks.” The I-Cubed program is run by the Executive Office of Administration & Finance (A&F).

Arsenal Mall Project Receives Major Investment from JP Morgan

The owners of Arsenal Yards sent out the following information:
Boylston Properties and J.P. Morgan today announced a $109 million strategic investment from institutional investors advised by J.P. Morgan in Boylston Properties’ Arsenal Yards development, a mixed-use destination of the former Arsenal Mall in East End Watertown. With sitework currently underway and upon the first phase opening in 2019, the vibrant urban neighborhood will be more than one million square feet, including 250,000 square feet of shops and eateries, anchored by Roche Bros. and The Majestic Cinema, YardWorks (200,000 sq. ft. of new and existing office and lab space), Blvd & Bond (425 contemporary residences), a 150-room Hampton by Hilton, The Fitness Collection, and a revitalized Arsenal Park with expanded access to the Charles River.

LETTER: Development on Arsenal Street is Changing the East End

To the editor, and the Watertown community,

I think the thing that bothers me most about this, and many other developments going on around the Boston area, is the fact that none of what I see takes into account the existing residents. There is no thought about who already lives here, and how what they develop will affect the area. There is no thought of including any of the character, the history of the location, buildings, etc., which is very important to the knowledge of how our county was formed. No thought of the people who have made this area what it is … no thought of all of the cultures, especially in East Watertown, that already reside here.