Construction has begun on One Greenway, a 362-unit mixed-income development that borders Boston’s Chinatown and the Rose Fitzgerald Kennedy Greenway, the project’s developers said.
The developers are New Boston Fund Inc., a private equity real estate investment, development, and management firm, and Asian Community Development Corp., a nonprofit group that serves Greater Boston’s Asian-American community.
The developers hope the two-building project at the corner of Hudson and Kneeland streets will act as the southern gateway to the Greenway.
According to the website of the Greenway’s conservancy, the Greenway is a “ribbon of contemporary parks’’ that stretch from the North End to a few blocks of South Station.
“One Greenway’s 362 residential units will reside in two buildings that bookend a third of an acre of publically accessible open space,’’ the developers said in a press release. “The 312-unit North Building includes 217 market rate rentals and 95 affordable rentals, while the South Building, to be built in a subsequent phase, will contain 50 affordable condominiums. Affordable rent and ownership units for low and moderate-income households account for 40 percent of all units.’’
In a statement, New Boston vice president Sean Sacks said: “We’re seeing a tremendous amount of development activity during this period of transition all around Boston, and we’re proud to bring this block of Chinatown back to life while also retaining the character of the neighborhood and former mixed use of this parcel for homes and small businesses. Also, the fact that One Greenway is so close to South Station will make it incredibly attractive to the growing demographic looking to live in a convenient downtown location near all the amenities that come with city living, one being access to public transit.’’
In a separate statement, Janelle Chan, executive director of the Asian Community Development Corp., added: “One Greenway is a triumph for the Chinatown community and for those who believe a vibrant, thriving downtown Boston benefits from diversity. It’s wonderful to accomplish such a tremendous milestone after years of planning.’’
Construction for the North Building is slated to be complete in the summer of 2015. Suffolk Construction is the general contractor and ADD Inc. is the architect.