Watertown real estate market booming thanks to life science companies

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This spring, as Massachusetts was reopening post pandemic, phase I of the Arsenal Yards project neared completion, and a population eager to get out of their homes flocked to Watertown’s newest destination. The mixed-use development boasts a balance of retail stores, restaurants, green space preservation, Arsenal history, new residences, and affordable housing.

Coming soon is phase II which will construct a 12-story, 108,000 square foot life science building. And across the street, the 17.8-acre Watertown Mall was recently sold to Alexandria Real Estate for $130 million. In short, the need for office, research and development space in the life sciences industry is driving Watertown development.

Watertown’s proximity to Cambridge and Boston and its available commercial space has been the primary reason for these recent mega-projects. However, beyond the simple good fortune of location, Watertown residents can be proud of the earned success of their…

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