Major Investor Commits $100M+ To Arsenal Yards

WATERTOWN, MA – Institutional investors advised by J.P. Morgan have committed a $109 million strategic investment toward Arsenal Yards, Boylston Properties and J.P. Morgan announced Tuesday. Site work is currently underway at the mixed-use destination, which is being built at the former Arsenal Mall site in East End Watertown.

The first phase of the project is expected to open in 2019. Once completed, it will feature 250,000 square feet of shops and eateries, anchored by Roche Bros. and The Majestic Cinema; 200,000 square feet of new and existing office and lab space called YardWorks; 425 contemporary residences at Blvd & Bond; a 150-room Hampton by Hilton; The Fitness Collection; and a revitalized Arsenal Park with expanded access to the Charles River.

"We identified East End Watertown as having tremendous potential for growth and Boylston Properties’ experience redefining the metro-Boston landscape solidifies our confidence in the investment," Jeremy Hopkins, vice president of Real Estate Americas, J.P. Morgan Asset Management, said in a statement. "The area’s proximity to Boston and Cambridge, coupled with Arsenal Yards’ mixed-use offerings create the quintessential urban lifestyle, ultimately driving market demand."

Arsenal Yards is also backed by a $222 million construction loan, with Wells Fargo Bank as the lead financier. Additionally, The Wilder Companies, a Boston-based real estate development, management and leasing firm specializing in the positioning of retail properties, has partnered with Boylston Properties and continues their ongoing work with architectural firm Prellwitz Chilinski Associates, Inc. (PCA).

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