Business

Charles River Chamber “Still Optimistic” After Watertown Mall Sale

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A view of the plans for the now scrapped Watertown Mall Transformation Project. Alexandria Real Estate sold the Watertown Mall property, including Parking the Retail, OL1, R1, and the Parking Garage 1. The company retained the other properties on the left side of the illustration. (Courtesy of Alexandria Real Estate)

Last week’s sale of the Watertown Mall property ended plans to create a life science campus on the north side of Arsenal Street, but the Charles River Regional Chamber said it remains bullish on prospects for that section of town. On Oct.

Business

Watertown Mall Property Sold, Plans for Life Science Redevelopment Appears to be Over

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(UPDATED on Oct. 21, 2025 at 2:20 p.m.: The first version incorrectly noted that the whole 24 acres of the proposed project were sold. Only 550 Arsenal Street were sold). Plans to turn the Watertown Mall and other properties on the north side of Arsenal Street into a life science campus appear to be over after the owners of the property sold to a Newton-based development firm. The Boston Globe reported that Alexandria Real Estate sold the Watertown Mall property in Watertown, which is located at 550 Arsenal St., to National Development for $100.25 million.

Around Town

First Phase of Redevelopment of Watertown Mall to be Discussed at Community Meeting

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A view of one of the buildings in the Watertown Mall Transformation Project viewed from the Community Path from the project documents. The following announcement was posted on the City of Watertown’s website:

Alexandria Real Estate Equities (“ARE”) will be hosting a Public Information Meeting in keeping with the Watertown Zoning Ordinance. This notice is for the community meeting required prior to formal application to the Watertown Planning Board. The presentation will include an update, review and discussion of plans relating to the first phase, Phase 1, of the approved Master Plan of the Watertown Mall Transformation Project. The purpose of this meeting is to update the community as to Phase 1 of the Master Plan which provides a collaborative and innovative campus including life science, retail, residential, and community uses, as well as publicly accessible open spaces and streetscape improvements.

Development

Planning Board Approves Master Plan for Watertown Mall Transformation

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The master plan for Alexandria Real Estate’s Watertown Mall Transformation was approved by the Planning Board. (Courtesy of Alexandria Real Estate)

The basic plan for remaking a large portion of Arsenal Street, including the Watertown Mall, has been approved by the Planning Board. Before the multiple lab buildings, residential units, retail, and garages can be built, however, developers will have to come back for approval of each building. Almost all of the project falls within Watertown’s Regional Mixed Use District (RMUD), which allows for additional height and density that most of the town but requires a master plan to be approved. On Nov.

Alexandria Real Estate

Roadwork on Mt. Auburn & Arsenal Streets Could Overlap

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Two of Watertown’s major roadways in the eastern part of town are scheduled to be undergoing roadwork at the same time. On Aug. 9, the City Council approved funds to replace water mains on Mt. Auburn Street, and also accepted easements provided by properties on Arsenal Street to allow for improvements along the sidewalks. Some of the work will occur simultaneously, which concerned some Councilors, including Tony Palomba.

Letters

LETTER: Group Urges Watertown Mall Redevelopment to be Net Zero Energy

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An Open Letter to Alexandria Real Estate Equities, Inc.:

With over 170 people attending your first public meeting on Alexandria’s plan for redevelopment of the Watertown Mall, we know that you are aware of how important this project is to the community of Watertown. We also know that Alexandria has committed to being  “a mission-driven company dedicated to making a positive and lasting impact on the world…”  Your website states that “environmental, social, and governance (ESG) is core to our DNA.”  We have high hopes for this project. Watertown Faces Climate Change, a local climate action group (see affiliations below)  calls on you to do the work to make these buildings Net Zero Energy/Platinum LEED. We know that Alexandria has the capacity to build to these standards because you have done so at 325 Binney St. in Cambridge.

Alexandria Real Estate

Mosesian Center for the Arts Celebrates Opening of New Space, Return of Live Performances

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Charlie BreitroseVisitors get their first look inside the renovated lobby of the Mosesian Center for the Arts. From the outside, the Mosesian Center for the Arts looks as it has for years, but step inside the front doors and you are greeted by a new lobby that draws you in and showcases works of art on its walls. Thursday evening, the Arts Center located in the Arsenal on the Charles, held a grand opening for its new and improved lobby, and a return of the performing arts. A soft opening was held on Nov. 12 when the first stage show in more than a year-and-a-half went on — the Watertown Children’s Theatre Production of Mama Mia.