Development

Developers of Arsenal Yards Want Deal With Town to Cap Property Taxes

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The developers behind the renovation of the Arsenal Mall have asked Town officials for something that has never been given in Watertown – a cap on the amount of property taxes. Bill McQuillan, principal of Boylston Properties, sent Town Council President Mark Sideris a letter last week requesting a “tax certainty” deal with the town. On Tuesday night, the Town Council referred the request to two subcommittees – Budget and Fiscal Oversight and Economic Development and Planning. Representatives from Boyslton and The Wilder Cos. said they need the certainty to get the funding required to pay for the $400 million project.

Arsenal Mall

Developers Creating Guidelines for Arsenal Yards, Must be Approved by Planning Board

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Developers of the Arsenal Yards announced plans to renovated the oldest buildings in the current Arsenal Mall to bring new life to them while adding a look reminiscent of the past. However, the anchor tenants will get more leeway to diverge from the historic look. Representatives from Boylston Properties, The Wilder Cos. and their design team discussed their plans for the first phase of the Arsenal Yards project at a Community Meeting on Thursday night. This phase includes the renovation of Building A (where Marshall’s is located) and Building E (which now houses Old Navy).

Development

First Phase of Arsenal Mall Renovation to be Discussed at Community Meeting

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Developers planning the renovation of the Arsenal Mall will discuss the first phase of the project during a Community Meeting on Thursday evening. Boylston Properties and The Wilder Companies will host the meeting where they will review Phase 1 of the Arsenal Yards master plan. “The purpose of this meeting will be to present and discuss the final layout and design of Building’s A and E, and discuss the operation of the property during construction,” said the meeting announcement. The master plan was approved by the Planning Board in January after nearly a year of discussions and meetings. Both buildings in Phase 1 were part of the original Watertown Arsenal.

Arsenal Mall

Planning Board Approves Master Plan for Renovating Arsenal Mall

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The new look for the Arsenal Mall, which includes added retail and hundreds of residential units, received the approval from the Planning Board Wednesday night. 

The Arsenal Yards, as the mall will be known, was in front of the Planning Board for the third time, and the board voted unanimously to approve the master plan. Many supported the plan, but some had questions about the traffic and the size of the building in the project. The project adds more than 100,000 sq. ft. of commercial or retail space, and 503 apartments or condos, some of which will be in a 12-story building.