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The first residential development in Station Square’s long history got the green light Tuesday from the city planning commission.

At the same time, the commission got its first look at a proposal to convert One Chatham Center, an office building erected during the city’s first renaissance, into apartments.

Members gave the go-ahead for a 319-unit riverfront apartment complex on the east side of Station Square adjacent to the Smithfield Street Bridge.

The sprawling $60 million development will feature two five-story buildings, one with a six-story wing, connected by a pedestrian bridge. A 340-space parking garage will be built underneath the complex.

In addition, there will 3,200 square feet of retail, mainly restaurants, built on the complex’s west end near the tunnel that connects to the east side of Station Square near the Grand Concourse restaurant.

The project is being undertaken by High Street Residential, a division of Trammell Crow Co., which was hired by Station Square owner Forest City Realty Trust to do the development.

High Street Residential hopes to get started this summer on the project, which will take 18 months to complete, said James Murray-Coleman, Trammell Crow senior vice president.

The development has been in the works since late 2014. Mr. Murray-Coleman said he was “super excited” to finally get it moving.

While there has been some concern about the potential for the apartment market in and near Downtown to become oversaturated, Mr. Murray-Coleman believes the Station Square complex, because of its amenities, aesthetics and location, will be successful.

The project won praise from city planning director Ray Gastil, who said he appreciated the work High Street has done to achieve a high quality design.

“I think that this is an important project on many levels for the city today. It’s important for us to see … projects of this type, which push towards higher quality,” he said.

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