Boston-based real estate developer Trinity Financial Inc. and Apartment Investment and Management Co., or AIMCO, said that they have entered into an agreement with the Massachusetts Department of Transportation to build a $190 Million, 12-story building at One Canal St. in the historic Bulfinch Triangle neighborhood of downtown Boston.
Located near TD Garden, one block from North Station and near the North End, the project, known as One Canal, will include 310 units of housing, 147 parking spaces, and ground-floor retail that is designed to accommodate a supermarket, the developers said in a press release. The project will be built on Department of Transportation parcels under a 99-year ground lease. Aimco, a large owner and operator of apartment communities, will own and operate One Canal after its completion.
The project involves construction spanning the MBTA Orange and Green Lines and the Central Artery. The project is designed by ICON architecture and will be built by John Moriarty & Associates.
Big changes are proposed in the general vicinity of North Station. A Globe story in January noted that several large projects seek to transform huge swaths of property in that part of the Boston in coming years.