It looks like Mayor Thomas Menino has struck a deal that will bring a billion dollar development to North Station.

According to the Boston Business Journal, the mayor’s administration will announce that a deal has been reached with Boston Properties and Delaware North Cos. that would allow a 45-story residential tower to be built close to North Station.

A generous tax break will help support the project, the BBJ learned

The deal will be announced Monday, approving project’s 600-foot height and another agreement that will save Boston properties millions in taxes.

The North Station project is a 1.7 million-square-foot mixed-use development, including a 20-story hotel, 25-story office tower, a 600-foot residential building and more than 375,000 square feet of retail space.

The Boston Redevelopment Authority is scheduled to meet with Menino on December 19th – the final meeting between the parties – to discuss the North Station project.

Image via metro.us