The first phase of Assembly Row, the long-awaited development along the Mystic River in Somerville, is coming to life.
Nearly 20 tenants ranging from cooking supply retailer Le Creuset to Legoland Discovery Center have opened in a complex of four buildings on the northeastern corner of the 40-acre site. Developer Federal Retail Investment Trust is promoting the center with a "grand opening season" throughout the summer with events such as the Somerville Food Truck Festival on Saturday.
While retail development has slowed to a crawl nationwide in recent years, hampered by the recession and the migration to online shopping, Assembly Row took a new strategy.
It’s rare for an outlet-themed center to be built in an urban area, and even more unusual to have one located on public transportation, said Russ Joyner, vice president at Federal Realty Investment Trust and the general manager of Assembly Row. A new MBTA Orange Line station serving the property will open in November.
"You surround that outlet retail component with things like office and residential and the entertainment component of AMC Assembly Row 12 (theaters) and that helps make us a multiple-use destination," Joyner said.
The first phase of the $1.5 billion project consists of 300,000 square feet of retail stores and restaurants, 100,000 square feet of office space and 450 apartments. Another 15 retail tenants will open throughout the summer and fall. The office space in phase one will be completed in July, with tenants sought for the first quarter of 2015.
Partners HealthCare System agreed late last year to become the anchor tenant for a subsequent phase of development, leasing up to 700,000 square feet of office space. Construction will begin later this year and run through 2016.
Mexican eatery Papagayo became the first restaurant operator to open last week. The center also will include a J.P. Licks, Legal on the Mystic seafood restaurant, Earls Kitchen + Bar, Tony C’s Sports Bar and Ernesto’s Pizza.
Although it’s located next to the Assembly Square Marketplace, with its acres of parking and big-box stores, Assembly Row was designed as a mini-downtown. Buildings are laid out in a city block pattern, with five stories of apartments above ground-floor retail. Approximately 10 percent of the apartments in the first phase of Avalon At Assembly Row are already occupied, with rents starting at $2,185 a month.
The completed development will include up to 500,000 square feet of retail, 1.75 million square feet of office space, a hotel, up to 2,100 residences and a six-acre waterfront park and amphitheater.
