The BRA board today approved an apartment building near North Station where all 239 units will be aimed at people who couldn't afford to live in the other towers rising in the area.
In addition to the 14-story apartment building, Residential Beal's project along Beverly Street also includes a 220-room hotel, a 220-vehicle garage and 10,000 square feet of retail space, on land left over from the replacement of the Central Artery with a tunnel.
The BRA says this is the largest "affordable and workforce" housing project downtown in 25 years. Eligible renters will have incomes ranging from 30% to 165% of the area median income. 10 percent of the units will have three bedrooms.
Ted Lubitz, a Related Beal vice president, said the company hopes to finance the project in part with state-backed bonds, state tax credits, BRA linkage funds contributed by developers of luxury projects for construction of affordable units.
Residents of nearby towers opposed the project because of its height, which is 6 feet taller than an earlier proposal for the land.
Related Beal acquired development rights from another developer last year. The company hopes to begin construction this December and estimates construction will take 26 months.
Parcels 1B and 1C proposal (1.6M PDF).