Mount Vernon Co. has won approval for its latest residential project in Brighton as the neighborhood undergoes a rezoning.

The Zoning Board of Appeals approved the firm's pitch for 30 Leo Birmingham Parkway, where it plans to develop a six-story, 117-unit apartment building dubbed The Current, Universal Hub reports.

The ZBA approved Mount Vernon's application on Tuesday, paving the way for the developer to raze the Santander Bank on the property, which is next door to the company's recently developed Radius building.

The development will include six stories with 117 units, 20 of which will be set aside for renters making between 50% and 110% of the Boston area median income. The units will range from studios to three-bedrooms.

Mount Vernon, run by founder and Chairman Bruce Percelay, also agreed to build a new bus stop and a separated bike lane as well as carve out a publicly accessible park on Lothrop Street near the proposed site.

The project falls in the geography of the Western Avenue Corridor Study and Rezoning guidelines, approved in October by the Boston Planning & Development Agency to better plan development on the corridor. The rezoning is intended to not only add density, but also create more open space, transportation opportunities and public benefits for the community.

On Wednesday, the BPDA discussed Davis Cos.' massive mixed-use project on Soldiers Field Road and how it would adhere to the new corridor study and rezoning guidelines, The Harvard Crimson reported.

Davis, in a joint venture with the Community Builders and Allston Brighton Community Development Corp., proposed two buildings with 528 apartment units, the redevelopment of the Studio Allston Hotel, retail space and public green space.