Boston-based Berkeley Investments is drawing up plans to redevelop two parcels in Sullivan Square for a 171-unit apartment complex.

Berkeley wants to rehabilitate the three-story, 38,000-square-foot Graphic Arts Building at 32 Cambridge St. for 52 apartments with 2,500 square feet of ground-floor retail. The complex would be connected to a new 102,000-square-foot four-story building containing 119 apartments at 472 Rutherford Ave., where the existing single-story building would be demolished. The project would include 16 surface parking spaces and a 97-space underground garage.

“Berkeley is thrilled to propose this project, which we expect will bring much-needed, transit-oriented housing to Charlestown,” attorney Peter Kochansky of Goulston & Storrs wrote in a notification letter to the Boston Redevelopment Authority (BRA) last week.

The project would include on-site affordable units and amenities such as a courtyard, dog run and new landscaping.

The city of Boston has long-range plans to redevelop Sullivan Square by replacing the traffic circle with a grid-style street network and selling five publicly-owned parcels to developers.

A disposition study completed in 2013 by BRA consultants Crosby Schlessinger Smallridge recommended higher-density housing and commercial development be allowed on parcels surrounding the MBTA station.