UPDATE: (Dec. 1, 2010): An Epoch rep says that as for Waterstone at Wellesley rates it is “really too early to project and the market rates at that time of 2012 will sort of force the rates.”
A Swellesley Report reader recently inquired into just how much it will cost to enjoy the amenities afforded by Waterstone of Wellesley, the luxury senior rental housing community set to open on the old Grossman’s lot in 2012 in Lower Falls on Washington Street (a ceremonial groundbreaking took place recently). Details about pricing for the 1- and 2-bedroom apartments are not listed on the official Waterstone site and developer National Development has said pricing will need to be determined as the project progresses.
However, the reader who contacted us was told rents for luxury units would be in the ballpark of $5,500 to $7,500 a month, with perks including a putting green, theatre, a heated indoor pool and al fresco dining, a walking path along the Charles River and weekly housekeeping. (“So much for trying to live in Swellesley,” he wrote.)
On the other end of town, at the “luxury address” of 576 Washington St. where the Wellesley Inn used to stand, a project called The Durant has promised to offer “condominium living of remarkable elegance.” But that project has been stalled due to financing issues/the economy. A one-year site permit extension was granted by the town over the summer, so hope remains that the project will get going sooner rather than later and that Wellesley can be bookended with luxury living complexes.