Business

What New Industries Might be Attracted to Watertown, Changes to the Square Discussed by City Manager

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City Manager George Proakis spoke at the Watertown Business Coalition’s City Update on March 5, 2026. (Photo by Charlie Breitrose)

Watertown became a magnet for life science companies in the last several years, and City Manager George Proakis said the building boom in that industry may be slowed, but other industries may be attracted to the same things: proximity to Boston and the universities in the area, easy access, and a nice place to be. Proakis spoke about the City’s economic and financial outlook during the Watertown Business Coalition’s City Update on Thursday morning at the Hampton Inn & Suites. His outlook for Watertown’s economic future was positive, despite the dip in the City’s most prominent industry: life sciences. “We are still in a community, in a state that is well invested in new growth.

Development

City Starting Detailed Designs for Watertown Square Intersection, Revitalization of Commercial Area

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The future of Watertown Square will be designed in 2026 with plans for major changes to the intersection as well as the commercial district in and around the Square. (Photo by City of Watertown)

More than a year after the zoning for Watertown Square was approved, City officials are preparing to begin the creation of two detailed plans to revitalize the Watertown Square commercial area, and to redesign the intersection. The project includes changes gto the roadway and intersection, as well as building on the parking lots in the Square. Discussions about the future of Watertown’s major intersection began in November 2023 with the multi-day design charrette, and continued through 2024 with the approval of the new zoning in July 2024, known as the Watertown Square Area Plan (click here to see the approved plan). During 2025, the work has been internal within the City’s Department of Community Development and Planning, in conjuction with consultants, to come up with a Revitalization Plan and designs for the new intersection in the Square, according to the City’s announcement about the implementation of the Watertown Square Area Plan.

Development

City Looking at How to Create Public-Private Partnership to Redevelop Watertown Square Parking Lots

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An illustration from the Watertown Square Area Plan with the municipal parking lot behind CVS outlined in red. The City Council is considering redeveloping that area. City Councilors will be wearing a second hat when it comes to the redevelopment of the parking lots behind CVS, the Watertown Library and perhaps others in Watertown Square. On Sept. 2, consultants from Innes Land Strategies Group spoke to the Council about their role as a Redevelopment Authority, and some of the options for making the projects a reality.

Development

Two Multistory Residential Projects Proposed in New Watertown Square Zoning

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An illustration of the proposed residential building at 108 Water St. (WSQ Development LLC)

Two residential projects have been proposed in Watertown, south of the Charles River and another in a vacant site on Mt. Auburn Street. The projects are among the first that would be built the new Watertown Square Zoning districts created so the City would comply with the MBTA Communities Law. The first project in the new zones was a five-unit residential building at 75 Spring St., which is located in the WSQ1 zoning, which allows 3+ story (four stories with a stepped back fourth story) projects.

Government

Revitalization of Watertown Square on City Council’s Agenda

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The future of Watertown Square will be discussed at the City Council’s meeting on Sept. 2. (Photo by Charlie Breitrose)

The City Council will hold a special meeting on Tuesday, Sept. 2, 2025, where the revitalization of Watertown Square will be discussed. The meeting description on the agenda says:

Informational presentation by our Watertown Square Revitalization Plan Consultants, Innes Land Strategies, to outline the role of a redevelopment authority and to lay the groundwork for the work they will undertake over the next year.

Around Town

City Will Begin Designing Watertown Square Soon, Construction Many Months Away

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Erika Jerram, the City of Watertown’s Director of Community Design, speaks to a group at a Watertown Business Coalition event. (Photo by Charlie Breitrose)

After a flurry of activity during the planning stages for Watertown Square, there has been a lull in the process. City officials said the action will begin again in the near future but the shovels won’t be hitting the ground for up to two years. Watertown’s Director of Community Design Erika Jerram provided an update on the status of the Watertown Square project during the Watertown Business Coalition’s coffee connect at Watertown Savings on July 16. The City Council and Planning Board approved the Watertown Square Area Plan in July 2024.

Government

First Project Proposed in New Watertown Square Zoning, City Prepping for Square Redesign

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A five-unit residential building has been proposed to go at 75 Spring St. A multi-unit residential building project became the first project submitted in the new Watertown Square Area Plan zoning. Meanwhile, the City seeks consultants to assist with the redesign of the Square’s main intersection and parking lots behind CVS and the Library. The first project to be heard by the Planning Board in the new zoning is located at 75 Spring St., where a five-unit residential building is proposed to replace a vacant one-story industrial building. The project is not in the by-right area for residential buildings, said City Manager George Proakis, but is in the area in which the zoning recently changed.

Around Town

City Manager Talks About Life Science Sector, Federal Funding, Future of Watertown Square & More in His City Update

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Watertown City Manager George Proakis covered a variety of topics in his City Update on Tuesday. (Photo by Charlie Breitrose)

Watertown’s economic prospects remain promising, despite a downturn in life sciences and uncertainty in future funds from Washington, City Manager George Proakis said during his City Update at an event hosted by the Watertown Business Coalition on Tuesday. During the event at the Hampton Inn & Suites, he also spoke about the possible reuse of the former Police Station property, how the new Cultural District could help the local economy, and the redevelopment of Watertown Square. Life Science Sector

While the lab boom of the early 2020s has waned, Proakis said that the industry still remains solid. “We have 4 million square feet of lab space now, and while vacancies are currently high, indicators are the industry is still growing, with job growth outpacing layoffs, and I think that last thing that is the key is the industry built very aggressively in the lab field of the last couple of years,” Proakis said.