New Boston Fund revises Chinatown residential plan

New Boston Fund revises Chinatown residential plan

New Boston Fund Inc. and the Asian Community Development Corp. are seeking to scale-down the plans for their Parcel 24 residential development in Chinatown.

The project, first submitted for BRA approval in October 2008, will be presented to the Boston Redevelopment Authority’s board Thursday night.

Originally designed to include up to 289 condominiums and 70 rental units, Parcel 24’s new blueprint calls for a slightly smaller footprint housing 345 housing units ­— the majority of which will be rentals. Indeed, the new plan will offer around 200 market-rate and 95 affordable rental units and approximately 50 affordable condos, according to preliminary filings with the BRA. The plan also includes 145 parking spaces, versus the 175 detailed in the original plan.

New Boston and ACDC’s revised build-out will result in approximately 425,750 square feet of rentable space. The original plan was slightly larger at 435,400 square feet. The site’s development entity is a partnership involving New Boston Fund and ACDC.

According to filings with the BRA, the project is expected to create approximately 700 construction jobs and 27 permanent jobs. Construction is expected to commence this year. The development parcel is located on Kneeland Street in close proximity to the Massachusetts Turnpike and The Rose Kennedy Greenway.
Read more: New Boston Fund revises Chinatown residential plan | Boston Business Journal

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