The Zoning Board of Appeals today approved a 39-unit, five-story residential building at 111 Terrace St., near Cedar Street, to replace an existing three-story apartment building and tow lot.

Developers Mark Blotner and Mark Cabral's proposal calls for five affordable units, two of which will be aimed at artists and will have a shared studio space.

The BPDA approved the proposal in October.

The company that owns the neighboring Mississippi's building at 103 Terrace St. objected to the proposal, saying it was far too dense for the lot under its current zoning and that the developers had yet to answer questions about such subjects as groundwater retention and traffic.

111 small-project review application (11.3 M PDF, shows an earlier plan for 42 units).