A scruffy stretch of East Watertown, home to a pedestrian collection of stores and medical offices, may be destined for a makeover as a mecca for start-ups and young professionals.
Boylston Properties, a Boston developer, is teaming up with athenahealth Inc. chief executive Jonathan Bush and Wilder Cos. to purchase the 225,000-square-foot Arsenal Mall and two nearby parcels.
They plan to transform them from “a black hole,” in Bush’s words, into “a cool place to live and play,” with loft apartments, hip restaurants, and boutiques catering to entrepreneurs and technology whiz kids at nearby companies.
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