33 Mount Auburn St. Image courtesy of PCA
Multifamily housing proposals are starting to gain traction following the rezoning of Watertown Square to attract higher density development.
In late 2024, local officials approved wholesale changes to the zoning surrounding the five corners, seeking to spur development of up to 4,000 homes while complying with the state’s MBTA Communities zoning law.
Now, developers are beginning to seek approvals for large-scale projects on a property that’s currently occupied by a 4-story office building and a derelict commercial parcel.
WSQ Development and Boston-based Eaglebrook Capital submitted plans to redevelop 108 Water St., a half-acre triangle of land bordering Nonantum Road that contains an office building completed in 1963.
The developers are proposing a 4-story, 51,735 square-foot apartment building containing 52 units. A community meeting is scheduled for Sept. 15.
Property records identify the current owner as Newton-based Farbro Realty LP.
And Boston-based Torrington Properties proposes 40 apartments on a vacant lot at 33 Mount Auburn St., just before the five corners intersection.
Stormwater and soil from what’s currently an unfinished building site spills into the surrounding streets, according to the application materials by developers and architects PCA, the architect for both projects.
Torrington Properties proposes a 5-story, 58,589 square-foot building containing 40 apartments.
The 0.3-acre vacant lot previously traded for $2.25 million in 2021, when it was acquired by Norwood-based Mt Auburn St. LLC.
Watertown officials have predicted the rezoning plan will create a more vibrant downtown atmosphere and add population density by replacing many of the low-rise buildings and parking lots that have dominated the area for decades.
The rezoning reduced parking ratios to between 0.5 and one space per unit, required parking to be rented by tenants separately from apartments and includes a 15-percent minimum income-restricted component.
108 Water St. Image courtesy of PCA
