Trinity Financial and Apartment Investment and Management Company (Aimco) have signed an agreement with the Massachusetts Department of Transportation (MassDOT) to construct a $190 million building at One Canal Street in the Bulfinch Triangle neighborhood of Boston, US.
Planned to be built near TD Garden, one block from North Station and adjacent to the North End, the project will feature 310 units of housing, 147 parking spaces, and ground-floor retail that is designed to house a supermarket.
The project, dubbed One Canal, will be constructed on MassDOT lands 2A, 2B and 2C under a 99-year ground lease.
The project also includes construction spanning the MBTA Orange and Green Lines and the Central Artery, is designed by ICON architecture and will be constructed by John Moriarty & Associates.
As per the deal, Trinity will be responsible for the construction of the building, while Aimco will own and operate the facility after its completion.
Both the companies plan to break ground on the facility later in the fall and the project is Trinity’s second development in the Bulfinch Triangle.
Trinity vice president Abby Goldenfarb said, “The West End and North End communities have been looking forward to construction for over a decade and we appreciate their support and patience as we worked through a number of complex challenges to get this project underway.”