Boston developer John Drew said construction of his stalled Waterside Place project in South Boston could begin next spring, thanks to a revised development plan his firm filed with Boston officials today.

"Large projects like the one we originally planned are not financeable, and retail is very, very problematic for the amount of space we had put aside," Drew said. "Parts of it are feasible and doable today."

The Drew Co. originally pitched a 1.2 million-square-foot development for eight acres of Massport-owned land in South Boston, including a 300-room hotel, 209 condominiums, 640,000 square feet of retail and a 2,350-space garage. It was supposed to be built in a single phase, and included a deck over Haul Road.

Under the new plans filed today, construction of Waterside Place will be broken up into phases.

The first phase would place 235 rental housing units, 69,000 square feet of retail and a 13,000-square-foot innovation incubator on three acres between Congress Street and the Silver Line right-of-way.

The rest of the project, including the hotel, remains "up in the air," Drew said, pending concrete plans for the expansion of the Boston Convention and Exhibition Center.

BCEC planners have targeted part of Drew’s site, including a strip along Summer Street, a large swath of land between Haul Road and the Silver Line, and the air rights between those two parcels, as possible expansion sites for their convention facility. Convention officials want to build a new 1,000-room hotel and a 5,000-seat auditorium on a new convention center campus. A preliminary BCEC expansion report said the Waterside Place site could accommodate either use.