$7M Plan Includes Upgrades to Outdoor Seating, Landscape, Signage & Architectural Façades
Federal Realty Investment Trust (FRT) has received approval from the Town of Wellesley’s Design Board for a comprehensive Property Improvement Plan for Linden Square. The company plans to make a significant investment of approximately $7 million dollars with work to begin in 2021 and continuing through 2022. Architectural renderings of the proposed improvements are here.
“Our primary goal is to upgrade the overall environment of Linden Square and position our retailers for long-term success,” said Mark Hebert, Vice President, Development Northeast for Federal Realty. “Federal Realty continues to curate the retail mix to address shopper needs, and these improvements will help attract the highest quality resources for our shoppers.”
Working with HFA Architects, Linden Square will evolve for the current needs of the Wellesley community, as well as retain its community charm as a gathering point with the addition of several new outdoor amenities added. With a combination of essential retail, fitness, dining and locally owned boutiques, this has been a vital destination for residents who want convenience along with high-quality offerings. The improvements will also incorporate post-COVID considerations to ensure shoppers feel safe while accessing the Center’s resources.
About Linden Square: Linden Square is a shopping, dining & lifestyle destination located in the heart of Wellesley, Mass. The center is anchored by Roche Brothers and offers a unique combination of boutique stores, restaurants, and lifestyle services including Bach to Rock, Bella Sante, California Pizza Kitchen, Club Pilates, Code Ninjas, Compass Real Estate, The Cottage, Kenzie & Hope, The Linden Store, Sara Campbell, StretchLab, Talbot’s and Tiny Hanger. For more information, visit shoplindensquare.com.
About Federal Realty
Federal Realty is a recognized leader in the ownership, operation and redevelopment of high-quality retail-based properties located primarily in major coastal markets from Washington, D.C. to Boston as well as San Francisco and Los Angeles. Founded in 1962, Federal Realty’s mission is to deliver long-term, sustainable growth through investing in densely populated, affluent communities where retail demand exceeds supply. Its expertise includes creating urban, mixed-use neighborhoods like Santana Row in San Jose, California, Pike & Rose in North Bethesda, Maryland and Assembly Row in Somerville, Massachusetts. These unique and vibrant environments that combine shopping, dining, living and working provide a destination experience valued by their respective communities. Federal Realty's 104 properties include approximately 2,900 tenants, in 24 million square feet, and approximately 2,800 residential units.
Federal Realty has increased its quarterly dividends to its shareholders for 53 consecutive years, the longest record in the REIT industry. Federal Realty is an S&P 500 index member and its shares are traded on the NYSE under the symbol FRT. For additional information about Federal Realty and its properties, visit www.federalrealty.com.
