Boston Properties expects to break ground soon on commercial developments in Cambridge and Waltham based upon strong tenant interest in its pre-approved sites.

As it nears completion of the 245,000-square-foot 10 CityPoint in Waltham, including the new headquarters for Sperry and Stride-Rite parent Wolverine Worldwide, the Boston-based REIT could break ground this year on 20 CityPoint, a similarly designed office and retail building overlooking Route 128. The timing depends upon leasing activity, executives said during a conference call to discuss first-quarter earnings.

Leasing velocity in the Waltham-Lexington market has accelerated in recent months, driven by expansion by life science tenants already in the market, President Doug Linde said. Prospective tenants have submitted more than 500,000 square feet of proposals in recent months for the suburban portfolio, which includes the 1-million-square-foot Bay Colony Corporate Center in Waltham.

Construction of the Kendall Center redevelopment in East Cambridge, including 540,000 square feet of office space and a 22-story, 280-unit residential tower at 88 Ames St., will likely begin in 2017, Linde said. Boston Properties is in “advanced discussions” with multiple tenants for the office space, he said.

Four stories of space remain available at 888 Boylston St., a 17-story office tower under construction in Boston’s Back Bay anchored by Natixis Global Asset Management. The company is looking for “premium rent” and the lack of additional leases reflects the small number of tenants in the submarket willing to pay it, Linde said.

For the quarter ending March 31, Boston Properties reported funds from operations of $250.7 million, compared with $200.4 million during the same period in 2015. The leasing percentage of its Greater Boston portfolio was 90.9 percent, compared with 90.6 percent in the first quarter of 2015.