Watertown Infill and Small Developments

[awood91]

Thanks for these update pics. ARE doesn't have a proper website detailing their portfolio holdings. This is the only info I've been able to find about the recent investments.

https://www.facebook.com/video.php?v=466306367702257

 

[pushy_penguin]

"Building 2" from yesterday.

 

[Boston02124]

I am having trouble figuring out where exactly this is and what it's replacing.

It replaced the Doble engineering firm building no great loss I work next door , they’re changing our address with a new access rd and it will be 1 and 2 Arsenal way

 

[stick n move]

The brickwork is new? It looks really good.

 

[pushy_penguin]

The brickwork is new? It looks really good.

Yep, ground up construction. Looks good and blends with the historic campus fairly well.

 

[stick n move]

For Lease: Watertown’s 66 Galen, A Laboratory Facility To Help Expand Boston’s Flourishing Life Sciences Industry​

“66 Galen is a 224K SF Class-A laboratory building in Watertown, a submarket in the Greater Boston life sciences hub. The project is being delivered in the fourth quarter and is part of a two-phase life sciences development that will be up to 464K SF once completed. The purpose-built facility has a host of amenities with an acre of green space, a fitness center, a bike area, six private tenant spaces and a café that aims to promote wellness.”

https://www.bisnow.com/boston/news/...e-sciences-the-davis-companies-studiob-120742

 

[itchy]

I thought Life Sciences / labs were bust?

 

[DZH22]

I thought Life Sciences / labs were bust?

It might be, although over-saturated is probably the more accurate term. Note that this is "for lease" and not "leased."

 

[Justbuildit]

Yeah, brand new class A places like this, located in secondary or tertiary markets, are going to be the bellwether of the industry (note that this is NOT in Watertown's Arsenal Yards, but a bit further west near...basically nothing). Still a lot of new capacity coming online in much higher demand areas, and if this is trying to lease at current class A rates I could imagine them having trouble moving the building. Curious to see how this one in particular plays out.

 

[dhawkins]

Well; Boston Development Group still sees a future for more labs. A potential second lab building is being proposed right next door.

Watertown News - 8 Water Street

Boston Development Group Video

 

[dhawkins]

Thanks for these update pics. ARE doesn't have a proper website detailing their portfolio holdings. This is the only info I've been able to find about the recent investments.

https://www.facebook.com/video.php?v=466306367702257

Here is a link with a break down of the different buildings on the campus - The Architects Newspaper.

 

[Pheldy34]

 

[dhawkins]

23 Elm Street, Watertown
Across the street from Target. I guess I haven't been to Target for a while because I did not see this under construction. Approved in July 2021 Watertown News. Web site Elm Street Labs

 

[FK4]

The brickwork is new? It looks really good.

I just saw this now for the first time and thought the same thing. Was like, wait this is new?? It looks restored. And looks great.

 

[shmessy]

For Lease: Watertown’s 66 Galen, A Laboratory Facility To Help Expand Boston’s Flourishing Life Sciences Industry​

“66 Galen is a 224K SF Class-A laboratory building in Watertown, a submarket in the Greater Boston life sciences hub. The project is being delivered in the fourth quarter and is part of a two-phase life sciences development that will be up to 464K SF once completed. The purpose-built facility has a host of amenities with an acre of green space, a fitness center, a bike area, six private tenant spaces and a café that aims to promote wellness.”

https://www.bisnow.com/boston/news/...e-sciences-the-davis-companies-studiob-120742

Some concerning recent context:

The Boston area built a ton of lab space. Now many of those buildings are opening empty. - The Boston Globe

The region's supply of life science real estate exploded just as the once-booming industry hit a slow patch. Now what?

www.bostonglobe.com

"......But for each of those there’s a project like Watertown’s 66 Galen St. or a pair of towers along Middlesex Avenue just outside Somerville’s Assembly Square, prominent above Interstate 93: all newly built labs that are, as of now, unleased....“With a two-decade history of successfully developing life-science properties, we have the perspective and the ability to take the long view,” said Stephen Davis, president of The Davis Cos., which built 66 Galen St. in Watertown. “The recent market has certainly been disappointing, but we are believers in the future of discovery and the life-science industry in Greater Boston.....”

 

[stick n move]

A small glimmer of hope.

Not all towns fighting state requirement to make multi-family housing easier to build near T stops​

“Banker & Tradesman reports that Watertown and Needham could end up exceeding state requirements for their rezoning efforts, and that Watertown has actually brought in urban-planning consultants to figure out the best ways to increase density in Watertown Square.”

UHub link

B&T article

 

[curcuas]

A small glimmer of hope.

Not all towns fighting state requirement to make multi-family housing easier to build near T stops​

“Banker & Tradesman reports that Watertown and Needham could end up exceeding state requirements for their rezoning efforts, and that Watertown has actually brought in urban-planning consultants to figure out the best ways to increase density in Watertown Square.”

UHub link

B&T article

Salim Furth (Housing scholar @ Mercatus) has pointed out that 44% of Milton voting for more housing in a plan not particularly close to transit is actually a remarkable sign of popularity of upzoning elsewhere. Milton, arguably is one of the least likely places to vote for density, vs say a Watertown.

 

[stick n move]

Yea the mbta communities act is a good first step but its very limited. Theres going to also have to be a lot of development in the other parts of the towns thats not around CR stations in order to be able to build enough housing overall. Its good to focus on density around transit, thats the most ideal place to put it, but if towns have other areas where they have room to grow they should be building there too. Hopefully the next step after this is getting towns to rezone other areas for density, legalizing ADUs statewide, legalizing corner stores within residential areas, legalizing more areas for retail, and hopefully eventually elimination of single family only zoning statewide.