As BPDA clears the way for allowing buildings up to 700 feet to be developed in downtown Boston, Dorchester is not without its own new development projects.

Two recently approved residential towers will be developed at 75 Morrissey Boulevard, the former WLVI TV station site. The two buildings, each at 18 stories and over 200 feet high, will contain approximately 754 residential units, with 414 off-street parking spaces.

The project will provide 20 percent as affordable units, or about 150 units.

New developments of 10 or more units and in need of zoning relief are required to create affordable housing, typically at 13 percent of the total units. Alternatively, developers can create affordable units at a location near their building, or make contributions to the IDP Fund, which is used to create affordable housing across Boston.

With the large development projects, budgeting and planning are key to financial success.