A residential and commercial development in Chinatown that will fill a long-vacant area once occupied by the Central Artery is moving forward.

The development, currently known as Parcel 24, will bring 345 affordable residential units — including 95 rentals and 50 condos — to Hudson Street in Chinatown.

The $130 million complex consists of two buildings with a community center, garage and park.
Developers and community members are hoping the complex will finally reconnect the Hudson Street area of Chinatown with South Station, the Leather District and beyond.

“It’s a tremendous opportunity to bring back a site that has been gone for so long,” said Sean Sacks Assistant Vice President of Development at New Boston Fund, one of the developers of the project. “It’ll bring back a really vibrant, mixed-use, mixed-income property — and bring life back to that side of Hudson Street.”

The Boston Redevelopment Authority recently approved an amendment to the project, which is also being developed by the Asian Community Development Corp. The amendment was to scale back on the number of condos and add more rental units due to the current economic climate and demand for affordable rental units in downtown Boston.

Construction is slated to begin in early 2012.

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