Image courtesy of CBT Architects

The Fallon Co. received a $215 million construction loan for a luxury residential tower at Boston’s Fan Pier, ending a lull in planned high-end housing projects in the urban core.

Bank OZK provided the financing for the parcel H tower, located at 1 Marina Park Drive.

The parcel is the last to be developed within the 3-acre Fan Pier project spanning eight blocks at the northwestern corner of the Seaport District.

Designed by CBT Architects, the 14-story, 245,000-square-foot tower received approval from the Boston Civic Design Commission last year. The approved plans call for 23,570 square feet of civic or cultural space.

Construction would end a looming pause in Boston’s luxury residential development. Since the 2023 completion of the Raffles Boston Back Bay hotel-condo project, only one major high-end project has been under construction in the urban core, the Ritz-Carlton Residences, Boston at the South Station Tower which is scheduled to open in 2025.

A message was left with The Fallon Co. on timetable for construction.