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Labs and apartments could be coming to the southern edge of downtown Boston

New Developments News Chinatown Downtown

A joint venture of two New York-based developers, Peebles Corp. and Genesis Cos., has won the rights to build a tower on state-owned land along Kneeland Street on the edge of Chinatown, overlooking the entrance to the O’Neill Tunnel, the Globe’s Jon Chesto reports.

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Peebles Corp. and Genesis Cos. won the rights to build on the state-owned Parcel 25 in Chinatown on Wednesday. —MASSDOT

The Massachusetts Department of Transportation board voted on Wednesday to approve the Peebles-Genesis bid, following a year-long contest that initially drew six bidders interested in the 1.4-acre site, known as “Parcel 25.” This marked the first time that MassDOT used the so-called “Massport Model,” in which the diversity of bidders counted toward 25 percent of scoring, to pick a developer for a surplus site. In this case, both Peebles and Genesis are Black-owned firms.

Read the complete story at BostonGlobe.com.

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