(For more retail coverage, click GlobeSt.com/RETAIL.)

BOSTON-The Boston Redevelopment Authority has unanimously approved a master plan for the Fort Point Channel area. The plan opens the door to what could bring nearly six million sf of new development to a 100-acre site along the South Boston waterfront.

Although the Boston Zoning Commission still must grant final zoning approval for the site, the BRA's decision could lead to $2 billion worth of development projects. That could turn the former warehouse district into a new neighborhood of offices, retail stores and 2,300 units of housing.

"The 100 Acres Master Plan is paving the way for brand new economic development Boston," Richard McGuiness, deputy director for waterfront development at the BRA tells GlobeSt.com. "Mayor Menino has made it a priority to create vibrant new neighborhoods throughout the city through initiatives such as this 100 Acres is a prime example of one of Boston's next great 24-hour neighborhoods."

While the board's decision paved the way for the redevelopment of the site, a portion of which is owned by Procter & Gamble Co., the plan could still face a hurdle from the Boston Preservation Alliance. The Alliance said in a letter to city officials that it expects to forge ahead with plans to designate a large portion of Fort Point as a historic landmark. Although a historic designation would not stop new development in the area, it could require developers contemplating the demolition or renovation of warehouses in the area to undergo further plan review.

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