BOSTON—The Boston Redevelopment Authority approved nearly $733 million in development projects late last week, including the first phases of the twin-tower Government Center Garage redevelopment plan.

The largest project to get the green light from the Board of Directors of the BRA last Thursday was the $536-million mixed-use Government Center Garage redevelopment project. The first phases of the plan, proposed by National Real Estate Advisors of Washington, DC and HYM Investment Group of Boston, will feature a residential and office tower. National Real Estate Advisors, which has a portfolio of $2.5 billion in net assets under management invested in commercial and multifamily real estate, is a subsidiary of the National Electrical Benefit Fund.

The first phase of the project will when completed feature a 486-unit, 480-foot tall residential building designed by CBT Architects. Also approved by the BRA is the second phase that involves a 1-million square foot, 43-story office building designed by Pelli Clarke Pelli Architects. Once construction begins on the office tower, the existing Government Center parking garage, completed in 1972, will be demolished. Approximately 1,100-parking spaces of the existing 2,300-car garage will be retained, enveloped by the office tower and two residential buildings at project completion, according to the project team. The reconfigured garage will provide parking for the new developments as well as daily parking, overnight resident parking and event parking.