The historic Watch Factory complex, located along the Charles River in Waltham, Massachusetts, consists of approximately 400,000 square feet of space in 22 interconnected buildings. The Queen Anne and Romanesque Revival style complex was constructed by the Waltham Watch Company over half a century starting in the 1860s. The Watch Factory is characterized by a series of narrow wings with regimented rows of windows designed to maximize daylighting for the detailed production of watches.Watch City Ventures LLC, a joint venture between Berkeley Investments, Inc. and The First Republic Corporation of America, acquired the property in May 2007.  Berkeley, as the managing member, is overseeing the redevelopment process and managing the property. The multiphase project consists of the rehabilitation and adaptive reuse of the complex as a vibrant mix of office, residential and retail uses with riverfront amenities.

The Watch Factory redevelopment is being pursued in the following phases:

Phase 1

160,000 SF of brick & beam office space in 12 existing buildings, new pedestrian bridge connection between two buildings, a fitness center, and Waltham Watch Company history exhibit. Phase 1 core and shell work was completed in September 2009 and the office space is currently 76% leased.

Phase 2

96 loft-style apartments in six existing buildings, a 2,050-SF café/restaurant and a 4,100-SF restaurant with riverfront dining. Construction is underway for a spring 2012 completion.

Phase 3

67 loft-style apartments in four existing buildings, 7,000 SF of brick & beam office space in the former central plant building, and structured parking. Phase 3 improvements are targeted to begin in early 2012 for a spring 2013 completion.