The Virginia-based development company already owns the nearby Prudential Center apartments. The company would be buying the rights from local developer Steve Samuels, who had originally proposed building a hotel on the site when he bought it two years ago from Harvard Pilgrim Health Care.

The difficulty he had financing that project, despite neighborhood support, convinced him to switch to a residential structure. In contrast, the proposed 44,000-seat ballpark, which was being decided around the time Samuels bought this property, has been hotly contested here.

The deal that is reportedly being considered would allow Samuels to keep control over retail and parking at the base of the building. Avalon would own the right to build a 500-unit apartment building.