You MIGHT want to look at Windsor Village. I have very few good things to say about it even though I lived there for a number of years. But it atleast runs daily shuttles in the morning to Alewife, and shuttles in the afternoon from alewife to the complex.
Which gets you in about the right area, maybe 2-3 miles from prospect hill. And there are two shopping centers both about a mile from the back of the complex. (Closer if you live toward the front of the complex.)
Watertown square to waltham can be a dicey bike ride in the summer. It's heavy trafficed road. I use to ride that way to get to the Charles for a weekly bike ride. And at times it could be scary.
To get into Cambridge I use to ride up to Lexington and take the Minute Man path to Alewife.
johno
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