April 20, 2017
Boylston Properties adds hotel to Arsenal Yards in Watertown
WATERTOWN, MA – Boylston Properties, now creating a new, mixed-use Arsenal Yards with retail, restaurants, residences, and entertainment space, announced today that a Hampton Inn and Suites by Hilton will be included in the redevelopment, adding to the transformation of the Arsenal Mall and adjacent properties into a dynamic new destination.
The new Hampton Inn & Suites, a brand of Hilton Hotels & Resorts, will have approximately 145 rooms, with retail space on the first floor. It 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.
The hotel will supply additional rooms to Watertown and the greater Boston area, which will complement the opening last year of Boylston’s nearby Marriott Residence Inn.
“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,” said William McQuillan, Principal of Boylston Properties. “We think a hotel is an ideal addition to our plans.”
“Arsenal Yards will offer our hotel guests an array of shops, restaurants and entertainment right outside their door.”
Phil Cordell, Global Head for Focused Service and Hampton Brand Management, said, “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.”
Steve Magoon, Assistant Town Manager and Community Development and Planning Director of Watertown, said, “A hotel is a potentially exciting addition to the project and brings even more diversity to it. The Marriott was a great addition and has demonstrated the need or demand for new rooms. We hope the addition of another hotel will be just as successful and great an addition to the community.”
Mark Sideris, President of the Watertown Town Council, said, “This is a very appropriate place for a hotel, and I’m happy it’s coming to this area. It’s an avenue to help drive economic development and a great opportunity for Watertown to be welcoming and have places for people to stay.”
Boylston Properties, along with The Wilder Companies and partners, hope to begin construction later this year on the property that will bring fresh retail, residential, dining and entertainment venues to the area, while also providing more green space, bike paths and outdoor gathering areas for the community.
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 Spring 2019.
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. 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.
Planning of the new community was undertaken over the last two years with extensive involvement of the Watertown community, as well as city agencies and officials. Handsome historic portions of the original manufacturing complex will be retained, with creative architectural additions, respectful restoration, and sustainability as priorities. Arsenal Yards will be welcoming and highly accessible for bicyclists and pedestrians and have sheltered parking for those who drive or live there.
The completed project, over phases, will contribute significantly to Watertown’s tax base, approximately doubling the tax revenue from the current amount paid to the city.
ABOUT BOYLSTON PROPERTIES
Boylston Properties is a Boston-based real estate developer of urban mixed-use projects including retail, residential, hotel, office, and research buildings. With over 30 years of experience and a contemporary vision, many of Boylston’s high visibility projects have become part of the new urban landscape in metro Boston. Included in Boylston’s portfolio is the recently opened 150-room Marriott Residence Inn Watertown and LINX, 185,000 square feet of office space currently in development, both near Arsenal Yards. For more information, please go to www.boylstonproperties.com.
For more information, please contact:
Tom Palmer, Tom Palmer Communication
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