In The Works: Big Somerville Renovation Plans

Federal Realty Investment Trust has announced that it expects to open as many as 50 outlet stores at Assembly Row in Somerville, hoping to attract area shoppers that might be less keen on traveling to Wrenthem, Kittery, etc, in search of bargains, according to the Boston Globe article. The $1.5 billion project will also include new offices, stores, homes, an MBTA station and a renovated park on the Mystic River. In the article, the developers said they are “convinced the outlet strategy will work, give the shaky economic times, because consumers want their favorite brands at lower prices, and retailers are quickly adjusting to accommodate their changing habits.” To read the article, click here.