Replacing an empty parking lot with new homes is good for everyone

The Watch Factory is one of Waltham’s historic treasures, important enough to inspire both our “Watch City” nickname and also one half of our city seal. While the factory itself hasn’t manufactured watches since the 1950s, it is well preserved and exists today as a vibrant mixed-use development of office space, a restaurant and 163 mixed-income homes. As anyone who has ever traveled down Crescent Street knows, the old factory is also surrounded by a lot of parking.

In fact, the Watch Factory has more than 750 parking spots, comprising spaces around the factory, in the parking garage at the end of the property, and the two surface lots across the street. This is an astounding amount of pavement, made more so by the fact that all the workers, customers and renters combined never use more than 40% of the available spots. That’s right: The Watch Factory is so awash in parking that there are more than 450 parking spots that sit empty and unused all the time. 

This is wasteful for a number of reasons. Empty pavement generates no tax revenue, provides no drainage for stormwater and worsens the urban heat island effect. It also squanders space that could otherwise go towards homes at a time when Massachusetts is suffering from an acute housing shortage. This shortage has driven up housing costs and caused a large amount of unnecessary pain and displacement for families who just want to call this wonderful city home.

Just about any use would be better than the status quo, so it’s delightful to see that the Watch Factory property owners are planning on replacing one of their empty parking lots with improved riverfront access and 140 new homes. This proposal will make us a more vibrant and affordable city, and it should serve as a model for how Waltham can transform underutilized land into much-needed housing across the city.

This development harms no one

While the proposed expansion of the Watch Factory has drawn a fair amount of neighborhood opposition, it presents none of the dangers that its opponents claim. 

This new expansion is more modest than the existing Watch Factory in every way. Even ignoring the Watch Factory’s towering spires and smokestack, the expansion still has a shorter height, less floor area and fewer units than the existing building. 

Parking is also not a concern. Once the expansion replaces one of the parking lots, the Watch Factory will still have an extra 250 parking spots that go permanently unused. This new apartment building isn’t close to big enough to dry up the sea of parking that surrounds the Watch Factory. 

Traffic impacts will also be negligible. A report approved by the Waltham Traffic Commission only anticipates less than one car per minute during peak hours from the expansion, and traffic will be reduced overall as new residents are able to live close to downtown amenities and transit. We actually saw this effect in action when the original Watch Factory redevelopment opened in the 2010s: Traffic at Crescent and Prospect streets decreased by 18% between 2013 and 2026, despite traffic worsening citywide over that same period.

This development benefits everyone

First and most importantly, the biggest beneficiary of this project will be people who rent. Some 140 households will have new homes to live in, neighbors will be spared the price pressures from those 140 households looking to outbid them for existing housing, and rents will soften citywide. The city will receive a $4.2 million payment from the developer for affordable housing under the current proposal, and ongoing City Council reforms could create the possibility for 21 on-site affordable units rather than this cash payment. Either way, it is a win for housing affordability. This isn’t even to mention the financial benefits to existing Waltham homeowners. New multifamily housing consistently provides more tax revenue than it costs, reducing the burden on existing taxpayers. From a strict tax perspective, the Watch Factory expansion is a winner for the city.

Beyond affordability, this project simply makes the neighborhood a nicer place to live. Not only will we have new neighbors to replace an empty parking lot, the project will also provide an enhanced pedestrian-only path from Crescent Street down to the river path. Neighbors no longer need to walk through a parking lot to access the river. Proposed traffic calming measures along Crescent Street will also make the roadway safer for everyone: New crosswalks with flashing beacons will make street crossings safer, and narrower lanes with added on-street parking will help to slow down speeding drivers. Local businesses will also benefit from the increased foot traffic with new residents close to downtown.

We all benefit when our city transforms underutilized, empty asphalt into new homes. This positive vision can become reality at the Watch Factory, but only with the support of residents, the Zoning Board of Appeals and City Council.

The Zoning Board of Appeals will vote on whether to advance this Watch Factory expansion on Tuesday, June 2, at 7 p.m. at Government Center (119 School St). Public input can be a huge factor as to whether this project moves forward, so please attend in support if you are able and interested. You can also share your support by emailing the ZBA at pdoucette@city.waltham.ma.us as well as your city councilors at councillors@city.waltham.ma.us.