Woburn-based Somnath Hospitality LLC has proposed a 90-room hotel at 104 Canal St. in Boston.

The company submitted plans this week for a 15-story, 47,355-square-foot boutique hotel, replacing a one-story former Bank of America branch on a 3,598-square-foot lot at the corner of Canal Street and Valenti Way. The project has gained the support of the nonprofit Downtown North Association.

"This development involves a crucial and visible Canal Street site, located on the main Bulfinch Triangle thoroughfare," Executive Director Robert O’Brien wrote in a letter to the Boston Redevelopment Authority. "From both an urban design and a community perspective, it is important that this location be more fully redeveloped for a higher and better use; and the proposed hotel use clearly qualifies in that regard."

Somnath Hospitality has shown sensitivity to how its plans would affect the potential redevelopment of the adjacent 110 Canal St., the Downtown North Association said. That building contains a Boston Beer Works restaurant and the headquarters of CBT Architects.

The hotel project would join an active development scene in the Bulfinch Triangle area. The site is diagonal from Trinity Financial’s 1 Canal St. project now under construction that will include 320 luxury apartments and 21,000 square feet of retail in a 12-story, 435,000-square-foot building. A block away, Boston-based HYM Investment Group LLC has approvals for the 2.9 million-square-foot redevelopment of the Government Center garage into a mixed-use project including housing, offices, retail space and a hotel. And Delaware North Cos., owners of the TD Garden, and partner Boston Properties, have approvals for a $950 million mixed-use development consisting of three towers built on a parking lot in front of the arena.