Boston Business Journal | By Catherine Carlock
December 1, 2016
More than two years after buying Watertown’s Arsenal Mall, Boylston Properties and The Wilder Cos. have revealed their plan for its redevelopment.
Boylston Properties and Wilder Cos., both Boston-based real estate development firms, are rebranding the property Arsenal Yards and planning 350,000 square feet of retail, 100,000 square feet of office space and more than 500 residential units. The redevelopment could eventually span 1 million square feet.
Boylston Properties and the Wilder Cos. acquired Arsenal Mall and adjacent Harvard Vanguard Medical Associates building in 2013 for $70.5 million. Also in 2013, Watertown-based athenahealth (Nasdaq: ATHN) acquired the Arsenal on the Charles corporate center next to the mall for $168.5 million, and CEO Jonathan Bush joined the Boylston Properties and Wilder Cos. joint venture.
“This new community in Watertown’s East End will bring vibrancy of the city and an urban energy along with the convenience and warmth of a suburb,” said Bill McQuillan, principal of Boylston Properties, in a statement. “We’ve worked with Watertown residents and officials to bring a unique constellation of uses with today’s busy families and individuals in mind.”