Image courtesy of The Fallon Co.

The developer of Boston’s Fan Pier is set to begin another signature project transforming an urban waterfront.

After being named master developer of Nashville’s largest downtown project in September, Boston-based Fallon Co. received approval this week for the East Bank project in Nashville.

The Metro Council approved a master developer agreement this week for 30 acres of publicly-owned land near the site of a new stadium for the NFL’s Tennessee Titans that’s scheduled to open in 2027.

The project sets aside nearly half of the 1,550 housing units for households earning 80 percent or less of the area median income throughout the 99-year ground lease’s term.

The Fallon Co. will contribute $72.6 million toward the $147 million costs of infrastructure related to the 30-acre initial phase of the project. The development will include an extension of the John Seigenthaler Pedestrian Bridge which spans the Cumberland River between downtown Nashville and East Nashville, relocation of utilities and road projects.

The redevelopment area would transform an industrial park with a new residential neighborhood near the new $2.1 billion stadium, which replaces the Titans’ current Nissan Stadium.