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This definitely will be an improvement to this neglected area. Maybe this will spur more development along Meridian Street.
As someone who lives nearby, I am happy to see some investment in this area.
That corridor would seem to be a good spot for dense housing. The RedLine is great for commuting downtown. There are only a few neighbors to complain about the density (NIMBY)and the businesses that are close will benefit from foot traffic. Personally, I always wonder about swimming pools for affordable apartment complexes for families. Not because they dont want them but the money spent on maintenance, safety (attractive nuisance and insurance issues), and lack of use during the winter would seem to indicate a better use could be found such as child friendly play room or better bigger laundry facilities as examples. (My bias is that we would not buy a house that had a pool and would think carefully about any complex with a pool.)