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Chapter 2 Arsenal Street Corridor Study: Existing Conditions

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Chapter 2 Arsenal Street Corridor Study: Existing Conditions 2 Existing Conditions This chapter provides an assessment of Existing Conditions within the study area. Sections of this chapter present demographics, environmental resources, land use and economic development, a multimodal transportation assessment, and a summary of the transportation infrastructure deficiencies and needs as of winter 2016. Land Use The Local Study Area contains nearly 1,820 separate parcels comprising approximately 442 acres of land. There is nearly 9.2 million square feet of development in this Corridor, containing a mix of residential, commercial, retail and other uses, as shown in Figure 2-1. The assessed value (2015) of these properties equates to approximately $1.6 billion. A detailed land use evaluation (including expanded information on the data above) is included in the Appendix and key takeaways from the analysis include: Retail developments comprise approximately 1.13 million square feet of the parcels fronting Arsenal Street. The retail uses in the frontage parcels account for approximately 88 percent of all retail development in the Local Study Area, likely reflecting favorable traffic and location characteristics of Arsenal Street. The average assessed value (per square foot) of retail properties is similar between the Frontage Parcels and the Local Study Area. Industrial parcels with Arsenal Street frontage comprise 251,200 square feet and are primarily warehouse space. By comparison, there is more than 1.35 million square feet of industrial space throughout the Local Study Area, perhaps reflecting a lesser desirability for these uses (or a stronger desirability for other industrial uses) on Arsenal Street or a lack of suitable land (sites) for development. The warehouse space that exists could represent the historic 13 Existing Conditions Apr 03, 2017 FIGURE 2-1 A R D KIMBALL ROAD Whitney EN R Hill Park OA PALFREY STREET D 16 IRMA AVENUE D A LLOYD ROAD O OAKLEY ROAD R WINSORAVENUE HILLSIDE ROAD G LANGDONAVENUE S A N R WELLS AVENUE M I BAILEY ROAD F A B I D B E R A O L I O R D O N R S R RUSSELL AVENUE T N 16 I HILL STREET O BARNARDAVENUE R V E AD L E A T D C Mount Auburn A PORTER STREET BIGELOWAVENUE O Cemetery R S LINCOLN STREET MARSHALL STREET E T D A AR B TM OU TH CRAWFORD STREET GROVE STREET S CONCO MELENDYAVENUE RD ROAD TR EE F ELTONAVENUE AIRFIEL T CHESTER STREETOTIS STREET D SCHOOL STREET S TR EE T T E CENTER STREET E R T WATERTOWN S Y B PUTNAM STREET IM T Watertown U EE Q R FRANKLIN STREET ST Square BIRCH ROAD AK SPRUCE STREET LAUREL STREET O COOLIDGE AVENUE 16 CYPRESS STREET WALNUT STREET 20 ARSENAL STREET Watertown Watertown A R FRANK STREET L Yard Mall IN G r WATER STREET T e O v ALDRICH ROAD WOOLEY AVENUE N i ARSENAL STREET S T R R E s PALMER STREET UNION STREET E e T l PAUL STREET r a ELIOT STREET h FIFIELD STREET C A R Arsenal Mall PRIEST ROAD S CAPITOL STREET E N A L M HUNT STREET A 20 R GREENOUGH BOUL K EVARD E LOTHROP STREET T P L CHARLES RIVER ROAD A C E OAD Cha FIELD R NONANTUM ROAD rles River SOLDIERS LINCOLN STREET EET S STR C OK BIRMINGHAM PARKWAY HARLESBANK ROAD O BR 90 20 90 ROAD RVIEW RIVE GUEST STREET 90 NE WT ON S GERRISH STREETTR NEWTON BI E OLIVA ROAD BOSTON GEL ET OW ST RE CORINNE ROAD ET FANEUIL STREET \\vhb\proj\Wat-TS\13290.00 Arsenal St Corridor\GIS\Project\Existing Land Use_PHA.mxd Land Corridor\GIS\Project\Existing St Arsenal \\vhb\proj\Wat-TS\13290.00 Arsenal Street Corridor Study Watertown, Massachusetts 0 200 400 800 Feet Existing Land Use Single Family Automotive Sales and Services Manufacturing and Processing Child Care Facilities Cemeteries State - Other Existing Land Use Two Family Office Storage and Distribution Facilities Hotels and Nursing Homes Vacant Land - Developable Housing Authority Other Residential Indoor Recreation Utility Private Schools Vacant Land - Undevelopable Town-owned Source: MassGIS, Town of Watertown Retail Trade Outdoor Recreation Public Service Properties Non-profit and Religious State - DCR Other nature and uses of development associated with the Arsenal, which zoning has not adjusted since its departure. Residential uses among the frontage parcels represent about five percent of the residential uses in the Local Study Area, both in terms of acreage and in terms of square feet of development. However, the average assessed value of single family residential and condominiums among frontage parcels, are both above those values for the Local Study Area residential uses, at 119 percent and 124 percent, respectively (albeit from a limited count of such uses on Arsenal Street). About one-half of the Local Study Area commercial development, at 520,500 square feet, is among the Frontage parcels. The average assessed value of these parcels, at $390 per square foot, is 53 percent greater than for the Local Study Area as a whole. Socio-Economics This section provides an overview of the relevant transportation-related socio- economic indicators and demographics for the study area. Key indicators such as population, households, and employment are directly relevant to transportation demands and are the primary parameters used in travel demand forecasting models. Estimated population, housing, and employment levels for the Arsenal Street Corridor for the years 2010 and 2015 are summarized in Table 2-1. Table 2-1 Local Study Area Socio-Economic Indicators Indicator 2010 Census1 2015 Estimate2 Percent Growth Population 5,504 5,708 3.7% Household Units 2,740 2,471 -0.1% Employees n/a 6,630 n/a 1 2010 U.S. Census 2 Based on US Census, Alteryx, Dun and Bradstreet, and RKG Associates, Inc. A complete market analysis of both the Local Study Area (the Arsenal Street Corridor) and the Regional Study Area is presented in the Appendix. Key findings of this analysis are summarized below. Demographic Indicators Analysis of population trends from 2010 to 2015 indicate: The estimated population of the Local Study Area was 5,700 persons in 2015, representing an increase of 200 people since 2010. Total population in the 15 Existing Conditions Regional Study Area has grown by slightly more than four percent over the 2010 to 2015 time (similar to the Local Study Area). In 2015, three-fourths of the population in both the Local and Regional Study Areas identifies as white, with five percent or less of the population identifies as black. More than 15 percent of the population of each identified themselves as “Other.” Persons of Hispanic/Latino heritage identified themselves as 7.6 percent of the Local Study Area population and 8.5 percent of the Regional Study Area population. The Local and Regional Study Area populations aged 65 and older increased by 6.2 percent and 5.4 percent between 2010 and 2015, respectively. Conversely, the population aged 15 to 24 years has declined in the Local Study Area by 3.1 percent between 2010 and 2015. Similarly, the Region has lost 0.4 percent of population aged 15 to 24 years over the same timeframe. Housing Indicators Analysis of housing trends from 2010 to 2015 indicate: Between 2010 and 2015, the total number of housing units in the Local Study Area remained constant. Unlike the Local Study Area, there was a 1.4 percent growth in total housing units in the Region between 2010 and 2015. Current housing in the Local Study Area reflects a mix of 60 percent renter occupancy and 40 percent owner occupancy. Tenure characteristics for the Region indicate 55 percent renter occupancy and 45 percent owner occupancy. The Local Study Area’s mean household income (2015) is nearly $100,000 and the median household income is approximately $75,700. The Region’s mean and median household incomes are slightly higher at nearly $111,400 and $78,800, respectively. In 2015, slightly more than 73 percent of the Corridor households were comprised of one or two persons, with an average household size of 2.08 persons and an average of 1.64 vehicles per household. Most of the 2015 households in the Region are either single person households (37 percent) or two person households (34 percent) with an average household size of 2.13 persons (slightly larger than in the Corridor). In 2015, approximately 16 percent of the Region households had no vehicle available. Employment Indicators Employment and labor force analysis indicates: 16 Existing Conditions The Watertown labor force averaged 20,817 persons (aged 16 and over) during the October 2014 through October 2015 period. Employment during this period averaged 20,119 persons, indicating average monthly unemployment of nearly 700 persons; an average unemployment rate of 3.4 percent. Since October 2014, the unemployment rate for Watertown has consistently been lower than that for the Metro North Workforce Investment Area (WIA), Massachusetts and the United States. In 2015, the approximate 6,630 employees in the Local Study Area represented 13 percent of the 50,800 employees in the Region. The greatest concentration of employment in the Local Study Area is among industry sectors with an institutional use, including health and education services (35 percent). Employment in the health sector in the Local Study Area represents slightly more than 21 percent of the health sector employment in the Region. Retail employment in the Local Study Area is also very strong, accounting for 29 percent of Regional retail employment. Employment in the finance/insurance industry in the Local Study Area accounts for less than one percent of that sector’s employment in the Region. The 2015 daytime population in the Local Study Area (aged 16+ years) is nearly 8,120 persons, of which nearly 6,500 persons are at their workplace.
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