Trinity Border Street LLC/Fort Point Associates via Boston Redevelopment Authority
The Boston Redevelopment Authority has given the go-ahead for another long-delayed residential development for the East Boston waterfront.
At its July 16 meeting, the authority’s board of directors unanimously approved a proposal for the $80 million Boston East development, the authority announced.
The project will replace a vacant lot and dilapidated pier at 102-148 Border St. with about 200 apartments and a publicly accessible maritime history exhibit, the authority said in a statement.
Trinity Border Street LLC, a partnership between downtown real-estate developer Trinity Financial and the East Boston Community Development Corporation, initially submitted its plan for Boston East to the BRA in October 2007.
Like many proposed developments on the waterfront and elsewhere, it was delayed amid a worldwide economic downturn that began shortly afterward.
In December 2011, Boston Mayor Thomas M. Menino said spurring development on the East Boston waterfront was a priority for his administration and that he had asked the BRA to pursue the creation of an East Boston Waterfront Development District that would allow the city to invest in infrastructure improvements.
The seven-story, brick and cast-stone Boston East building is expected to qualify for LEED Silver certification and to include 196 one- and two-bedroom units over more than 300,000 square feet, the authority said.
It will be built on a 14.2-acre site that will also include 167 parking spaces and is expected to create about 240 construction jobs, the authority said.