Image courtesy of Gillette Co.

The developer of a lab complex in South Boston called “The 105” is set to pursue a larger project in Fort Point on a former Gillette Co.-owned parking lot.

Tishman Speyer is proposing a 455,000 square foot office, lab and R&D development at 232 A St., a 2.4-acre parcel that it acquired in September 2021 for $80 million.

Along with the life science space, the project will include ground-floor retail space and “expansive public realm and open space improvements” along Fort Point Channel, Tishman Speyer Managing Director Jessica Hughes wrote in a notification form submitted to the Boston Planning and Development Agency.

Consultants Taidgh McClory and Milton Benjamin are assisting Tishman Speyer with its diversity, equity and inclusion plan, while Payette is the architect.

Greater Boston’s blistering lab market pulled back in late 2022 amid declining venture capital investment in biotech growth, but life science remains the favored strategy of developers for many prime sites.

As developers in Greater Boston added 6.2 million square feet of new lab space in 2022, the vacancy rate rose from 2.3 to 6 percent, according to a recent Newmark research report.

Boston’s 3.6-million-square-foot Seaport District lab market had average asking rents of $108 per square foot on a triple-net basis. The vacancy rate was 19 percent at year’s end.

Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, leased its entire life science development at 105 West First St. to CRISPR Therapeutics in its first Boston project.

The firm also is partnering with Harvard University on the first phase of its Enterprise Research Campus in Allston, which will include a 440,000-square-foot life science building.

It also made its first local multifamily acquisition in January with the $135 million purchase of the Eddy apartment tower in East Boston.