A 6.2-acre site in Readville is the latest industrial parcel set to be redeveloped as a large multifamily development.

OMB Sprague LLC proposes 521 residential units and a 150-seat restaurant as part of a 556,625-square-foot development at 36-40 and 50-70 Sprague St.

The project would consist of four new buildings with 492 underground parking spaces, and up to 70 surface parking spaces. An entrance would be built next to a pedestrian bridge that connects the property to the Readville station on the MBTA commuter rail.

The developers will target LEED Silver certification and include Zipcar spaces and a bike sharing service, according to a letter of intent submitted this week to the Boston Planning and Development Agency by Jordan Warshaw, founder of Boston-based Noannet Group.

Acknowledging the “difficult traffic situation” in the neighborhood, which includes the Boston Dedham Commerce Park, the developers will work with the city and state on improvements, Warshaw wrote.

And 13 percent of the units would be reserved for households earning a maximum of 70 percent of the area median income. Plans also include restoration of wetlands along Sprague Pond, which is currently inaccessible to the public.

The development entity, OMB Sprague LLC, acquired 36-40 Sprague St. in December for $2.75 million, according to Suffolk County Registry of Deeds records.