Image courtesy of Perkins & Will

King Street Properties’ newest development proposal includes a mix of prebuilt life science labs, light manufacturing space and co-working suites available to Allston residents.

The 87,000-square-foot project is proposed for a 1.3-acre site at 287 Western Ave., steps from the Boston-based developer’s 515,000-square-foot Allston Labworks project currently under construction.

Several local life science developers are targeting early-stage biotechs’ real estate requirements in projects, reflecting the venture capital industry’s more selective funding climate.

“The project will fulfill a market need that is currently unmet and will allow companies to remain in the Allston neighborhood through all stages of their growth,” developers stated in a project notification form to the Boston Planning & Development Agency this week.

The building also will include a high-bay section suitable for light manufacturing use such as robotics.

The developers set aside 3,000 square feet of ground floor space for meeting rooms and co-working suites available to Allston residents. King Street Properties also will replace an existing Boston EMS ambulance storage space by providing two ambulance bays.

The project is located within the Western Avenue Corridor zoning district, updated by the BPDA in 2022 to allow higher-density projects.