For now, bank won’t seek to oust Beacon Hill store

A Beacon Hill convenience store has gained a temporary reprieve from losing its lease to a bank, but a McDonald’s restaurant near Faneuil Hall won’t be so lucky.

Capital One Bank, which had been seeking city approval to replace the Charles Street Market at the foot of Beacon Hill with a bank branch, said it is withdrawing its request for now.

“We’re currently reevaluating our opportunities in the area and are determining what will work best for us and our business in Boston,’’ said Capital One spokesman Amanda Landers, who declined to elaborate.

Capital One, which currently doesn’t have any branches in Massachusetts, has secured five other locations in Boston, Newton, and Brookline as part of its plans to expand in the state and is hunting for more.


But Capital One needed special approval from the Boston Zoning Board of Appeal for the branch in Beacon Hill, because the building was partially zoned as residential.

A hearing had been scheduled on the matter for Tuesday.

Capital One faced opposition from residents, who hoped to save the convenience store. More than 1,300 people signed a petition opposing the bank branch.

Still, Capital One could resubmit its request for the zoning change. Or it could explore other options, such as building a smaller branch in the portion of the building zoned for commercial use, find an alternate site on Beacon Hill, or abandon plans for opening in the neighborhood.

TD Bank, though, will replace a McDonald’s at 1 Union St. near Faneuil Hall. The restaurant will close next month, and the bank branch will open sometime next year.

“It’s a great location,’’ said a TD Bank spokesman, Jimmy Hernandez.

TD Bank, the fourth-largest bank in Massachusetts, is trying to expand its share of the market in Greater Boston with plans to open 15 branches in the area in the next few years.


The bank’s move will not affect the Purple Shamrock, an Irish bar in the Union Street building. But the bar’s future is nevertheless uncertain. Paul Wilson, operations manager for the company that owns the Purple Shamrock, Glynn Hospitality Group, said the landlord has asked for a 60 percent rent increase, which it can’t afford.

The bar’s lease expires in September.

Todd Wallack can be reached at twallack@globe.com. Follow him on Twitter @twallack.