A new multi-family housing project will bring more than 300 residential units to Allston.

The 22-24 Pratt St. project was approved by the Boston Planning & Development Agency. 

A new, 16-story multi-family housing development will be built on an underused industrial site that contains a commercial warehouse building, a two-story residential building and surface parking. 

Once complete, it will include 318 units, 54 of which will be designated as income-restricted and will be a mix of sizes from studios to three-bedroom apartments.

The development will also include 89 below-grade vehicle parking spaces, residential amenities and publicly accessible landscaped open spaces, as well as other site and public realm improvements.

The project responds to the city’s recently approved Allston-Brighton Needs Assessment by increasing housing that’s affordable, accessible and transit-oriented. It’s located close to public transportation including the MBTA Green Line, Commuter Rail and multiple bus routes.

It will also include an onsite Bluebikes station and contribute $87,450 to support the Boston Transportation Department’s bikeshare system. 

This is the second Allston project in as many months approved by the BPDA.

Last month the board approved a new mixed-use development that will include hundreds of residential units, as well as retail. 

The 180 Western Ave. project will convert several vacant commercial buildings and parking lots into a 274-unit mixed-use development featuring residences, retail and restaurants.