Partial demolition of the former Arsenal Mall in Watertown will begin in spring 2017 to make way for a mixed-use development called Arsenal Yards.

The project by Boylston Properties and The Wilder Cos. will include 350,000 square feet of retail and entertainment space including a specialty grocer, multiplex cinema and premium wine superstore, the developers announced today. A 503-unit apartment complex and 100,000 square feet of offices also will be built on the property.

The enclosed mall was built in the 1980s at the former Army munitions depot and factory. Designs by Cambridge-based architects PCS call for retaining portions of the original complex and “creative architectural additions” and restoration, according to a press release.

Boylston Properties, The Wilder Cos. and Athenahealth CEO Jonathan Bush acquired the property in 2013 for $71 million in 2013 and have spent the past three years in local permitting.

The cinema complex will contain up to eight limited-seating screens. 75 of the apartments will be reserved as affordable housing.

Demolition of the single-story portion of the mall building will begin next spring with the first stores projected to open in fall 2018, the developers said.