General Electric's planned 12-story headquarters on Boston's Fort Point Channel has received the green light from the city's development agency.

The Boston Planning & Development Agency (formerly the Boston Redevelopment Authority) approved building plans during its meeting Tuesday night.

The $200 million development is expected to consist of 388,700 square feet.

"The BPDA led a thorough and transparent public comment process and facilitated a terrific result for the community,” Ann Klee, GE vice president for Boston Development and Operations, said in a statement.

GE still needs state environmental approval before it can break ground early next year.

GE says the construction will provide an estimated 282 construction jobs, and the building will eventually house 800 GE employees.