Image courtesy of Perkins + Will

Asana Partners is seeking to renovate and expand a block of commercial properties in Somerville’s Davis Square with life science space above updated storefronts.

The “7th Spoke” redevelopment replaces three 2-story commercial buildings with a 4-story office-lab building including ground-floor retail.

The three commercial buildings at 256-260 Elm St. total 55,800 square feet and include such tenants as Starbucks and Elm Street Taproom. The project proposes a 119,300-square-foot, building including 59,400 square feet of labs, 39,600 square feet of office space and 20,300 square feet of retail. A portion of the project would be built on a Herbert Street parking lot.

The Asana Partners project is across the street from another future major life science project that will transform Davis Square: developer Scape’s 188,000-square-foot lab project approved at the corner of Elm and Grove streets.

The Asana Partners proposal also includes changes to the neighboring Elm Street Plaza, a 7,500-square-foot courtyard between Elm and Herbert streets that will be reconstructed to provide “enormous community and retail benefits,” developers said in a site plan review submission to the Somerville Planning Board. The plans include five new trees and a new ramp and stairs to Herbert Street.

A public hearing is scheduled for the planning board’s meeting on Thursday.

The North Carolina developer, which owns high-profile retail sites in Boston and Cambridge, acquired the Davis Square site in 2019 for $40 million, following its acquisition of the 240 Elm St. building anchored by Bfresh grocery store.