The Watertown Planning Board approved a special permit for Arsenal Yards, a 1M SF mixed-use development planned at the former Arsenal Mall. An enclosed mall since 1983, the site is being rebooted by Boylston Properties and The Wilder Cos, which plan to re-expose the two original Arsenal buildings and create an urban street environment with new buildings.
The proposed development will include 350k SF of retail and entertainment space, almost 500 housing units and 100k SF of office space, the Boston Business Journal reports.
The Wilder Cos and Boylston Properties bought Arsenal Mall in 2013 for $70.5M. Also that year, Watertown-based athenahealth acquired the Arsenal on the Charles corporate center next to the mall for $168.5M, and CEO Jonathan Bush joined the Boylston-Wilder Cos JV. [BBJ]
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