Construction has started on a development project known as the Merano located on the last open parcel of the Bulfinch Triangle. Of the three open parcels created by The Big Dig, the first parcel was developed into an apartment complex called the Victor while the second was developed into a luxury apartment building called One Canal.
When completed, the Merano will mark the full development of the Bulfinch Triangle. This latest development project is part of several massive development projects in the area, including the redevelopment of the TD Garden, the redevelopment of the Government Center Garage, the West End Tower and Avalon Tower.
Originally slated as a 12-story building that would hold two major hotels, the project was recently changed in order to win city approval. Now this $230 million development project has grown to a 14-story building that will have underground parking to accommodate the parking lot, which currently sits on the lot. Half of the building will be a 220-room hotel while the other half will hold 239 apartments.
All of the apartments in the building will be reserved for working class people whose income fall into a certain bracket. With the major building boom in Boston, many neighborhoods around the city have seen a rise in property values and increased rents. Many local politicians have advocated for the creation of price controlled housing so that working people will not be pushed out of Boston by rising rents.
The first floor of the building will be reserved for street level retail space. There is no doubt that the project will have a positive impact on the surrounding area. Many of the projects supporters have pointed out that the new residents and hotel guests will be a boost to shops and restaurants nearby.
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Nick Lattarulo for Bostonia Properties