Construction on the apartment portion of a highly anticipated development project at a vacant lot across from TD Garden is slated to begin next month. Related Beal, who signed a 99-year lease with the Commonwealth of Massachusetts, recently reported that they have enough financing to get the project going. Known as Parcel 1B, the apartment development here is expected to include 239 units. Its main claim to fame, however, is that those units are intended to provide affordable housing for Boston residents.
The as-yet-unnamed apartment development at Bulfinch Triangle will have apartment homes that are reserved for Boston residents who earn 30 to 165 percent of the median income for the area. Most will be one- and two-bedroom units, but 10 percent are expected to be three-bedroom models that will more easily accommodate families. The developer has not yet projected when this phase of the project will be complete, but construction will begin in January 2016.
Ultimately, the development will also include a 220-key hotel and significant amounts of retail space. Boston City Properties will continue to track this story, and we will provide updates on its progress as they become available. When the new apartment development is nearing completion, our team can assist you in securing a unit there or in other popular apartment buildings in the neighborhood.
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