WATERTOWN, MA—The ambitious redevelopment of the Arsenal Mall here into a $400-million major mixed-use development has added a key component—a new Hampton Inn & Suites by Hilton hotel.
Developer Boylston Properties reports the new hotel at the Arsenal Yards project will feature 145-rooms. Construction on the development is expected to begin in the late spring of this year. The hotel, which will include retail space on the first floor, is planned for the northwest corner of the property, along Arsenal Street and adjacent to a parking garage that will serve the hotel, new residents, and Arsenal Yards shoppers and visitors.
“In the process of planning Arsenal Yards, we realized the opportunity to round out the hotel market in this area while providing another dynamic use to the Arsenal Yards project that will create more activity and vitality to the project as a whole,” says William McQuillan, principal of Boylston Properties. “We think a hotel is an ideal addition to our plans.”
Phil Cordell, global head for focused service and Hampton Brand Management, adds, “We look forward to being a part of this exciting and energizing retail, entertainment, apartment and hotel development in Watertown that will surely impress and attract locals and visitors. We cannot wait to welcome guests to the brand new Hampton Inn and Suites and continue to grow our portfolio in the Boston area.”
The new hotel and garage will be in the first phase of the redevelopment project, along with half of the planned retail and restaurants, with the hotel opening in the spring of 2019. Boston-based Boylston Properties and the Wilder Companies, as well as other partners, are developing the Arsenal Yards project.
The hotel will be owned by a new joint venture that is an affiliate of Boylston Properties and Stonebridge Partners, the team that also developed and owns the Marriott Residence Inn on Arsenal Street, which opened for business last year. The new hotel will also be managed by Stonebridge Partners. The architects for the new hotel will be a collaboration of Prellwitz Chilinski Associates and Group One Partners.
When fully built out, Arsenal Yards will feature 350,000 square feet of retail and entertainment space, more than 500 apartments and 100,000 square feet of existing office space. The full build-out will convert the current enclosed mall into a mixed-use complex with open air, storefront retail space and residential apartments above them in five new structures. The tallest building will be an approximately 130 feet high residential tower, while the other buildings will be between five and six stories high.
This past January, the Watertown Planning Board voted unanimously by a 5-0 margin to approve a special permit to the Arsenal Yards master plan.
Globest.com previously reported that Boylston and Wilder purchased the Arsenal Mall in August 2013 from Simon Property Group for $82 million. Another partner in the project is Jonathan Bush, co-founder of Athena Health, which owns the adjoining campus totaling approximately 650,000 square feet on Arsenal Street. The Wilder Cos. is a development partner and is also handling the management and leasing of the Arsenal Yards project.
WATERTOWN, MA—The ambitious redevelopment of the Arsenal Mall here into a $400-million major mixed-use development has added a key component—a new Hampton Inn & Suites by Hilton hotel.
Developer Boylston Properties reports the new hotel at the Arsenal Yards project will feature 145-rooms. Construction on the development is expected to begin in the late spring of this year. The hotel, which will include retail space on the first floor, is planned for the northwest corner of the property, along Arsenal Street and adjacent to a parking garage that will serve the hotel, new residents, and Arsenal Yards shoppers and visitors.
“In the process of planning Arsenal Yards, we realized the opportunity to round out the hotel market in this area while providing another dynamic use to the Arsenal Yards project that will create more activity and vitality to the project as a whole,” says William McQuillan, principal of Boylston Properties. “We think a hotel is an ideal addition to our plans.”
Phil Cordell, global head for focused service and Hampton Brand Management, adds, “We look forward to being a part of this exciting and energizing retail, entertainment, apartment and hotel development in Watertown that will surely impress and attract locals and visitors. We cannot wait to welcome guests to the brand new Hampton Inn and Suites and continue to grow our portfolio in the Boston area.”
The new hotel and garage will be in the first phase of the redevelopment project, along with half of the planned retail and restaurants, with the hotel opening in the spring of 2019. Boston-based Boylston Properties and the Wilder Companies, as well as other partners, are developing the Arsenal Yards project.
The hotel will be owned by a new joint venture that is an affiliate of Boylston Properties and Stonebridge Partners, the team that also developed and owns the Marriott Residence Inn on Arsenal Street, which opened for business last year. The new hotel will also be managed by Stonebridge Partners. The architects for the new hotel will be a collaboration of Prellwitz Chilinski Associates and Group One Partners.
When fully built out, Arsenal Yards will feature 350,000 square feet of retail and entertainment space, more than 500 apartments and 100,000 square feet of existing office space. The full build-out will convert the current enclosed mall into a mixed-use complex with open air, storefront retail space and residential apartments above them in five new structures. The tallest building will be an approximately 130 feet high residential tower, while the other buildings will be between five and six stories high.
This past January, the Watertown Planning Board voted unanimously by a 5-0 margin to approve a special permit to the Arsenal Yards master plan.
Globest.com previously reported that Boylston and Wilder purchased the Arsenal Mall in August 2013 from
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.