BOSTON, Nov. 20, 2013 /PRNewswire/ -- Boylston Properties and The Wilder Companies have announced a new name and new look for the Arsenal Mall and nearby parcels marking the completion of phase one upgrades to the development and signaling a bright future for East Watertown's Arsenal district.
"We are pleased to take this first step toward modernizing the property and revitalizing this important neighborhood for future generations," said Tom Wilder, A Wilder principal and head of development. "Over time, with community input, support, and combined resources, the shopping center and nearby buildings will be improved to comprise a vibrant destination for residents and visitors alike. This transformation will take time and has many components. Therefore, we're calling it "The Arsenal Project."
Enhancements to The Arsenal Project include a reconceived interior layout with new seating, creating a more comfortable and spacious shopping environment, as well as upgrades to the building's exterior and landscaping. Passers-by will notice oversized metal tree-planters lining Arsenal Street, the center's entryway and throughout the development. Functional and aesthetic changes already completed range from modern signage to sidewalk repairs. Also, pedestrian areas are now much brighter with enhanced outdoor lighting designed to accentuate the unique structural and architectural features of the historic building. A contemporary ceiling sculpture and colorful banner program will be installed before year's end.
The Arsenal Project is home to a variety of nationally known retailers, including Sports Authority, Old Navy, Marshalls, Gap Outlet, Forever 21, Chipotle, Bath & Body Works, Ann Taylor Factory Store, and Victoria's Secret. The Wilder Companies manages the day-to-day operations of the shopping center.
Boylston Properties and The Wilder Companies along with individual investor Jonathan Bush collectively and separately own approximately 500,000 square feet of Arsenal Street buildings including Arsenal Mall, Harvard Vanguard Medical Associates, Golfsmith, One Arsenal, and Charles River Saab. Now in the planning stages, the developers are working with town officials to design a redevelopment strategy that will bring an economic boost to this underutilized area as outlined in Watertown's comprehensive plan for growth, an all-encompassing study that will shape the town's vision in the coming decades.
"Our ultimate goal is to help the town realize its vision for transforming the Arsenal district at the east end of Watertown into a vibrant residential and commercial destination where residents and visitors will enjoy local shops, restaurants, cultural venues, and easy access to the Charles River Reservation," said William McQuillan, Boylston Properties' President.
"We're looking forward to working with this development team and the neighbors in this area to improve the entire east end of Watertown," said Mark Sideris, Watertown's Council President. "The immediate improvements that they've made to the project have shown how this new team wants to work in, and with, the Town to make it a great new part of Watertown."
ABOUT THE WILDER COMPANIES
Based in Boston, The Wilder Companies specializes in the merchandising and positioning of retail properties. The company has over 40 years' experience developing regional malls, specialty centers, urban properties and mixed-use developments throughout the country and Puerto Rico. In addition to its own investment partnerships Wilder provides property management and leasing services for institutions, owners, and investors. The Wilder Companies currently has a diverse portfolio of 50 properties throughout the East Coast.
ABOUT BOYLSTON PROPERTIES
Boylston Properties is a 33-year-old Boston-based developer of urban mixed-use projects including retail, residential, office, and research buildings. The company draws upon urban and suburban development experience on its own or with partners in the Northeast U.S. markets, many in the Greater Boston area.
SOURCE Boylston Properties; The Wilder Companies