A new developer has committed to co-developing the planned apartment complex tower at 275 Albany Street, part of a combo hotel and apartment development to be built next year in the Ink Block section of the South End.
The firm, Gerding Edlen of Portland, OR will join the current developer, Normandy Real Estate Partners, to turn the space currently used as a parking lot into an $150 million, 1.3 acre hotel and apartment complex.
“We think it’s a great opportunity,” Kelly Saito, president of Gerding Edlen, told the Boston Herald. “We think it’s a good, central location that’s in the South End but abuts several other neighborhoods with great access to transit.”
Normandy Real Estate Partners had originally planned to build a $125 million double hotel and parking garage complex on Albany Street, but announced in August it would instead build a $150 million hotel and apartment complex. The Boston Redevelopment Authority approved the plans in September.
As the plans stand now, the building will feature 220 apartment units and a 325-room hotel that will rise as high as 19 stories on the 1.3 acre lot at 275 Albany Street.
This Albany Street development would share the street with the $200 million Ink Block development, which would house 471 apartments and a Whole Foods supermarket.