Committee of the Whole Meeting | The City of Watertown | February 3, 2026

The City of Watertown held a Committee of the Whole meeting on February 3, 2026, focused primarily on a proposed multifamily housing development project at 1911 Gateway Drive. Representatives from Freeheel Capital and National Management presented their plan to build between 250 to 290 residential units, emphasizing the use of Tax Increment Financing (TIF) as a critical public-private partnership tool to make the project financially feasible amid rising construction costs. The developers highlighted the project's potential to address the local housing shortage, support workforce retention, and stimulate economic growth along the I-94 corridor. City council members discussed the challenges and benefits of using TIF for residential development, including concerns about service costs for new residents and the importance of structuring the partnership to avoid subsidies. The council expressed general support for the project, noting its alignment with previous successful TIF districts and its potential to catalyze further development in the area. The meeting concluded with a commitment to continue working collaboratively on the project's details and infrastructure considerations.