Business

Owner of Arsenal Project Buys Another Property in Area

By |

Boylston Properties, one of the owners of the Arsenal Project, has purchased property down the street from the mall. The group has agreed to purchase a 10-acre parcel at 480 Arsenal St., according to a report on Banker & Tradesman. It is currently used by biotech company 480 Biomedical, but it could be rezoned for residential use, Boylston Properties President William McQuillan told Banker & Tradesman. Along with the mall, the group has purchased the former Charles River Saab dealership and has plans to build a six-story Residence Inn by Marriott hotel in that location. (See details here).

Development

Changes Pleasant Street Area Zoning Moving Along

By |

Efforts to prevent more large housing project coming into the Pleasant Street areas moved a step closer Monday night. The Economic Development and Planning subcommittee voted to have the proposed changes go to the Town Council during the May 27 meeting, which would essentially put the new zoning into effect at that point. The Town Council seeks to draw development that includes retail, office and some light industrial in the West End of town. Three types of zoning will be created in the Pleasant Street Corridor – one where at least 25 percent of projects is commercial; a second where no retail is allowed – only retail, commercial and light industrial; and one where anything fitting the Pleasant Street Corridor rules can be built.

Councilors also want to prevent “canyon-ization” when multi-story building are built close to the street. To prevent this, buildings will have to be “stepped back” –  so floors above the second must be pushed 15 feet back from the front facade, and floors above the sixth must be pushed back 25 feet from the front facade.

Arsenal Complex

Athenahealth Seeks Zoning Changes for Arsenal Complex

By |

The company that bought the Arsenal on the Charles hopes to get some zoning changes to assist redeveloping the complex in Watertown. Tuesday night, the Town Council heard about a proposed zoning overlay for the complex, from Steve Magoon, Watertown’s director of Economic Development and Planning. The overlay would include several changes to the towns zoning rules just for that property that lies between Arsenal and North Beacon streets. One change would provide more flexibility to add more retail space. “It will not be come a third mall or anything,” Magoon added.