Watertown's State of the City Highlights Growth, Development and Financial Outlook

City Manager George Proakis and City Council President Mark Sideris highlighted Watertown's economic development, infrastructure improvements and financial outlook during the city's annual State of the City Address on Oct. 28.

A major focus was the future of Watertown Square, where officials are reconsidering a proposal to redevelop approximately four acres of city-controlled parking lots. Following mixed public feedback, Proakis said the city is exploring several alternatives, including leaving the area unchanged. Additional information is expected in the coming weeks.

Meanwhile, plans to redesign the Watertown Square intersection are moving forward, with construction targeted for spring 2028.

Proakis also highlighted signs of recovery in Watertown's life sciences industry. The city's laboratory vacancy rate has fallen from 43% to 31%, while 20 new life sciences companies began operations this year. Officials also pointed to growth in robotics, artificial intelligence and climate technology.

On the financial front, officials discussed new state legislation permanently authorizing Watertown's special property tax classification rule, helping the city avoid a potential 18% to 20% residential tax increase. Proakis cautioned that municipal budgets could tighten over the next two fiscal years as the city takes on borrowing costs for school construction.

Public safety improvements included the addition of a second advanced life support ambulance, which began service Nov. 1.

Sideris also announced that 22 residents applied for six seats on the upcoming Charter Review Commission. He expects the review to be less extensive than the previous process.

The address concluded with questions from residents about housing, transportation and other community priorities.

Watch the full address: http://vodwcatv.org/internetchannel/show/5842?site=1