In the heart of Watertown, MA the five-story, 190,000-square-foot mixed-use building is expected to begin operation in 2026.
, /PRNewswire/ — O’Connor Group of New York today announced the launch of Elysian Watertown Square Residential Property Owner, LLC, a joint venture of O’Connor Group (“O’Connor”), FrontRange Capital Partners (“FrontRange Capital”), and Takenaka Corporation (“Takenaka”). This 142-unit development at 53 Pleasant Street, Watertown, MA, will include a thoughtful mix of residential and retail space along vibrant Main Street.
Upon completion, the development will deliver 190,000 square feet of rental units, 15% of which will be allocated for households making 65-80% of the median income. The project will also include the renovation of a historic row house built in 1890, an undertaking that will convert the property into five for-sale condominium townhouse units with one set aside for affordable home ownership.
“We are thrilled to be bringing new market rate and affordable housing to a Main Street location like this …