BOSTON—A top official with Related Beal, a division of Related Cos., tells that the beginning of construction is imminent on its $230-million mixed-use workforce housing project at the Parcel 1B site in the Bullfinch Triangle.

Related Beal reports that it has closed on the financing for the project that will include 239-units of affordable workforce housing, a hotel and retail space. In addition, the firm also states that it has into a 99-year land lease with the Commonwealth of Massachusetts for Parcel 1B in the Bulfinch Triangle. The project site also includes Parcel 1C, which Related Beal acquired from an affiliate of Boston Development Group at the end of 2014. Parcel 1C is currently used as a surface parking lot. Parcels 1B and 1C were part of the Big Dig and sit above two Central Artery tunnels. Parcel 1B is located across the street from Related Beal’s Lovejoy Wharf where the developer redeveloped 160 North Washington St. for Converse’s new headquarters and 131 Beverly St.

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