BOSTON (CBS) – One of the largest construction projects planned for Boston is now slated to move forward, after being placed on “hold” for years because of the recession.

Simon Property Group has filed plans with the city for a 500-million-dollar, 47-story tower at Copley Place. The company says it would become the largest residential building in the city.

Vice President Bill Jackson tells WBZ the new tower, facing the Back Bay T station, would contain more than 300 condos, an enlarged Neiman-Marcus store and a glass-enclosed garden.

WBZ NewsRadio 1030′s Anthony Silva reports