Plans for a hotel tower and a residential tower have been approved by Boston's redevelopment authority as part of part of an urban renewal initiative. The $165 million proposal will construct the pair of towers at 275 Albany St. in the city's New York Streets neighborhood.

The 19-story residential tower will include 220 rental units while the 11-story hotel will include up to 325 “micro-style” rooms, Boston.com reports.

The 330,000-square foot (30658-square meter) complex will also house 2,011 square feet(187 square meters) of retail space and will install new paving, lighting and landscaping around the project. It will also include a new bike-sharing Hubway station.

Developer Normandy Real Estate Partners hired ADD, Inc. as the project architect.

The approval comes just months after the city approved broad zoning changes for parts of the South End designed to guide and spur development in the area, known as the Harrison-Albany Corridor Strategic Plan.

As part of the new zoning requirements, Normandy Real Estate Partners will make a 20 percent contribution to affordable housing.