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Boston-based Trinity Financial and the Harvard Club of Boston today announced plans to redevelop the club’s Newbury Street property with 133 residential units and additional athletic facilities.

Banker & Tradesman first reported in 2019 that the two groups were in talks to develop a portion of the property and provide the private alumni club with space in the new building. The talks initially focused on a 200-room hotel.

The current proposal calls for demolition of the Harvard Club’s annex, an addition to the main building that contains athletic facilities, to make way for an 11-story building with three stories of fitness and athletic space and 95 residential units on the upper floors. A three-story building containing 38 residential units and underground parking would replace the existing surface lot which borders the Massachusetts Turnpike.

“The project will help to address Boston’s need for transit-oriented housing units while at the same time providing the Harvard Club with member and guest amenities, including underground parking and state-of-the-art athletic facilities,” Fort Point Associates President Jamie Fay wrote in a project notification letter to the Boston Planning and Development Agency.

The team will seek approval under a planned development area for the site, which is slightly larger than one acre.

The property is located on the Newbury Street Extension steps from Samuels & Associates’ parcel 12 air rights redevelopment including the CarGurus office tower and CitizenM hotel.