Sale of Watertown Arsenal to Athenahealth Finalized

The company purchased the Arsenal on the Charles Complex from Harvard University.

The sale of the Arsenal on the Charles complex by Harvard University to athenahealth has been finalized. The 760,000 square foot, 11-building complex was purchased for $168.5 million, according to a report on Market Watch.   News of the sale first came out in December 2012. Harvard purchased the former U.S. Army complex in 2001 for $162.6 million. It used to be known as the Watertown Arsenal and served as a military munitions manufacturing facility. Athenahealth, which specializies in cloud-based health care services, already uses 330,000 square feet of the site.  The tech company moved to the Arsenal on the Charles in 2005 when it moved into 133,000 square feet of space, and it reportedly sought 500,000 for its new headquarters, according…

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You Ask, Patch Answers

What Happens to the Harvard Charitable Funds if the Watertown Arsenal is Sold?

Readers want to know what happens to the funds that go to local charities and groups if and when the Arsenal on the Charles is sold by Harvard.

  When Harvard purchased the Arsenal on the Charles complex in 2002, the university agreed to a number of payments to the town of Watertown as part of the 50 year agreement, including a $100,000 payment annually for local charities and organizations. The agreement, known as a payment in lieu of taxes (or PILOT), was put in place because as an educational institution Harvard does not have to pay regular property taxes.  Now the Arsenal on the Charles is under agreement to be sold from Harvard to Athenahealth - one of the current tennants of the complex. Watertown Patch readers wondered, what will happen to the charitable monies if and when the complex is sold?  Looks like Watertown will lose the charitable funds, which go to what is known …

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The Mommy Express

Togetherness

A trip from Watertown to Harvard Square brings up unexpected thoughts of my daughter growing up.

A few weeks ago after our music class, my daughter and I went to Harvard Square to run a few errands and enjoy one of the first nice weather days of spring. The sky was sunny, and the air cool and breezy, perfect for ambling and observing the hustle and bustle. We went to The Coop for books, had some lunch and didn't notice anything particularly unusual about the Square. In fact, it seemed more low-key and deserted than I anticipated. It wasn't until we emerged from Cambridge Common Park that we began to see a smattering of robes, hats and tassels. It was Harvard University graduation day. I felt compelled to get out of there before the hordes of people appeared.   As we hurried over the hoof prints of William Dawes imbedded in the bricks …

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