BOSTON-AvalonBay Communities' plan to build a 38-story apartment tower next to TD Garden has gotten the okay from the Boston Redevelopment Authority. The Arlington, VA-based REIT had bought development rights for the $200-million project from Delaware North's Boston Garden Development Corp. last fall.
The BRA had originally approved the Nashua Street Residences project in 2006 when it was under the aegis of Delaware North, which planned about 360 condominium units. AvalonBay's plan, filed this past November, maintains the originally-approved maximum height of 415 feet.
Situated in Boston's West End, Nashua Street Residences will include 503 residences, including 27 affordable units. The plan also earmarks $3.2 million for off-site affordable housing, according to the BRA. It will also include a two-story retail arcade; among other things, the arcade will encourage pedestrian circulation between Nashua and Causeway streets.
Other developers have been busy in the neighborhood, according to published reports. Simpson Housing is working on 286 apartments along Causeway Street; Equity Residential intends to build 500 units on the site of the Garden Garage by the fall of 2015; and Beal and Related Cos. foresee offices, residences, and stores in two buildings at Lovejoy Wharf, the Boston Globe reported last fall.
“We recognize the supply of housing in the neighborhood is increasing, but at the end of the day our building and others will completely transform this area into a more residential, 24/7 kind of place,” Scott Dale, SVP of development at AvalonBay, told reporters when plans were filed with the BRA last fall. “That's only going to benefit the people who choose to invest here.”
In a statement issued following the authority's approval, Dale said, “We believe the West End neighborhood and, in particular, North Station has tremendous potential to become a true nexus within the city for residents, commuters and others.” The company hopes to begin construction this fall, according to published reports.
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