A major development that could put 450 new mixed-income apartments in two buildings on what are now two parking lots along State Street between Chapel and Fair streets has moved forward, with the Board of Alders’ approval of an agreement to sell the property for $1.29 million. The two-phase project is proposed by GDXP NH JV LLC, a joint venture between Gilbane Development Co. of Providence, R.I. and New York-based Xenolith Partners CT. Both properties, which together comprise 3.25 acres, are between State Street and the Amtrak/Metro North railroad tracks. A rendering provided to the alders shows The Iron to be at least 10 stories. He told Walker-Myers that the city and the developer anticipate a construction start date in June 2026 and the completion of Phase I in the early spring of 2028.

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