The Harvard University Enterprise Research Campus is seen under construction in March. Photo by Steve Adams | Banker & Tradesman Staff

Harvard University and its development partner Tishman Speyer are set to begin the public review of their next major real estate project in Allston, the second phase of the school’s Enterprise Research Campus.

The second phase of the ERC would include 720,000 square feet of office, lab and R&D space and 420 apartments, the development team notified Boston officials today.

Construction began last year on the first phase of the Allston campus, which is transforming the landscape across from Harvard Business School on Western Avenue.

The next phase would include five buildings on a nearly 5-acre site at 100 Western Ave., including three lab buildings developed by Tishman Speyer and partner Bellco Capital, and two apartment buildings totaling 320,000 square feet.

The project, including ground floor retail, community space and over an acre of public parkland, will create “a vibrant destination animated by landscaped open spaces, local retailers and restaurants, with homes affordable to a wide range of families and individuals,” Tishman Speyer Managing Director Jessica Hughes said in a statement.

The initial 900,000-square-foot phase includes an office-lab building, hotel and conference center and 345-unit apartment complex scheduled for completion in 2025 and 2026 on an 8-acre section of the ERC. The project has not announced any tenant commitments.

Approval of the project was delayed by a drawn-out community review centering on demands from neighborhood activists and local elected officials for more affordable housing. The development team ultimately agreed to a 25-percent income-restricted component.

The first phase received $750 million in construction financing from Otera Capital in June 2023.

Harvard and Tishman Speyer will begin a public review this spring following filing of a project notification form with the Boston Planning & Development Agency.

Image courtesy of Tishman Speyer