One of the largest developments in Allston history will add 758 apartments, 110 condos and a 373,500-square-foot office and lab building to the 11-acre Stop & Shop Supermarket property bordering the Massachusetts Turnpike.

After nearly two years of review, Boston Planning and Development Agency directors on Thursday approved the four-building, 1.2 million-square-foot Allston Yards development at 60 Everett St.

The property contains a 100,000-square-foot strip mall anchored by a 60,000-square-foot supermarket built in 1998, along with 450 parking spaces. The first phase will redevelop and expand the grocery store to 87,200 square feet and add 176 housing units in an 85-foot-tall building.

Future phases built over an eight to 10 year period would include three additional buildings ranging from 167 to 232 feet in height. The housing component would include 17 percent income-restricted units. Deed restrictions will require that at least 70 percent of the estimated 110 condo units be owner-occupied.

The development is a partnership between Quincy-based Stop & Shop Supermarket Co. and New England Development of Boston. Developers originally proposed 1,050 housing units but reduced the scale of the project during its community review process.

Opponents said the scale of the project will aggravate traffic congestion in the neighborhood, where development has accelerated since the opening of the MBTA’s Boston Landing commuter rail station in 2017.

A community benefits agreement includes plans for a 1-acre, WiFi-equipped public green and dog park and $20 million in infrastructure projects including reconstruction of the intersections of Everett and Guest Street, Arthur and Guest street,  extensions of surrounding streets creating a new grid including bike lanes, a new Route 64 bus stop with transit signal priority and Bluebike station. Developers also agreed to pay $2.5 million to the MBTA for bus and commuter rail service enhancements.

The project is one of three in Greater Boston in which real estate developers plan to build housing to maximize the value of supermarket properties.

Whole Foods Market is in BPDA permitting for a 283,000-square-foot development at its 15 Washington St. property in Brighton, including 270 apartments and a new 46,000-square-foot grocery store on two levels.

And in October, WS Development began community outreach on a potential redevelopment of the Star Market property on Beacon Street in Somerville. That store also would be rebuilt on two levels, along with 241 apartments, according to a Cambridge Day report.