A parking lot off Tremont Street next to Tufts Medical Center in Chinatown would be turned into a 29-story residential and hotel tower - with all the residential units marketed as affordable - under a proposal submitted to the BPDA by two well known developers, the Asian Community Development Corp. and Tufts.
The $174-million proposal also sets aside 8,000 square feet of first-floor space on Tremont Street for possible sale - at cost - to the Boston Public Library for a permanent Chinatown branch. The city is nearing completion of a temporary Chinatown branch at the China Trade Center and is looking for a more permanent space.
The library space would be on the first floor of an extension to the current Tufts garage that is also part of the proposal.
The BPDA solicited bids in November for a 99-year lease on the L-shaped parking area. Tomorrow is the deadline; to date, the BPDA has received just this one bid.
One of the developers is Corcoran Jennison, which specializes in mixed-income developments - of which its best known is Harbor Point in Dorchester. It's joined by Millennium Partners, which specializes in luxury towers for the international jet set. Also included in the bid: The Asian Community Development Corp., which builds and manages affordable housing in Chinatown and other areas with high concentrations of Asian-Americans, and a Tufts subsidiary that handles construction and building maintenance for the medical center.
Under the proposal, a tower on Tremont Street would house roughly 140 hotel rooms, conference facilities and a restaurant on the lower 10 floors - all connected to the existing DoubleTree - and 171 residential units on the upper floors.
The residential units would be split between 126 condos and 45 apartments, all marketed as affordable - with the apartments limited to tenants making no more than 60% of the area median income, and the condos sold to people making no more than 80% of the area median income. The units would include fourteen three-bedroom condos and five three-bedroom apartments.
The proposal also calls for 264 parking spaces to be added to an existing Tufts Medical Center garage next to the site.
Bid submission (71M PDF).
From the proposal:
Walkway would connect Tremont and Washington streets:
The current site: