The O'Connor Group of New York has launched the Elysian Watertown Square Residential Property Owner, a 142-unit development, in Massachusetts, US.
This development, located at 53 Pleasant Street in Watertown, is a joint venture of O'Connor Group, FrontRange Capital Partners and Takenaka.
It will feature a combination of residential and retail spaces along Main Street.
Upon its completion, the Elysian Watertown Square development is expected to offer 190,000ft² of rental units, with 15% dedicated to affordable housing for households earning 65-80% of the median income.
Additionally, the project will include the restoration of a row house which was constructed in 1890, which will be transformed into five condominium townhouse units, one of which will be reserved for affordable home ownership.
The all-electric development is designed to meet the highest sustainability standards and will be Passive House certified.
Designed by ICON Architecture, the five-storey building will incorporate rooftop solar panels, EV charging stations in its structured parking, and a transportation management plan to encourage the use of alternative transport options.
Elysian Watertown Square will have a range of amenities including a hotel-style lobby, a porte-cochère entrance, meeting spaces, a clubroom, coworking spaces, a gym, bike storage, a pet care spa, and two rooftop terraces.
In addition to residential amenities, the property will feature an art walk that connects Main Street with Pleasant Street and The Charles River Walk.
The Main Street frontage will also offer 6,500ft² of retail space, anticipated to attract a restaurant and service-oriented businesses.
Dellbrook|JKS, a construction firm, is tasked with the construction of Elysian Watertown Square.
The project's completion is expected in the summer of 2026.
Watertown city manager George Proakis said: "The City's recently adopted plan for Watertown Square recommended more housing to make the Square a lively destination and support our small businesses. The 104 Main Street development will bring more people into the Square and help us achieve the plan's vision."
