Federal Realty is proposing a 381,529-square-foot life science building on block 7A at Somerville's Assembly Row/Image courtesy of Jacobs

For its next development block at Somerville’s Assembly Row, Federal Realty Investment Trust is seeking approval for a 381,529-square-foot life science building.

The 1.3-acre site has been used in recent years as temporary parking and amenity space for Federal Realty’s Assembly Row retail center. Designed by Jacobs, the 158-foot-tall structure would include nearly 17,000 square feet of ground-floor retail and restaurant space and 177 parking spaces in a two-story underground garage.

“The project marks the next milestone in the development and rebirth of the Assembly Square area into a vibrant transit-oriented waterfront district along the enhanced Mystic River,” developers stated in a submission to city officials.

The building would occupy Block 7A in the master-planned development, which was approved in 2014. The latest phase will be subject to site plan and special permit approval by the Somerville planning board.

FRIT’s application comes after BioMed Realty recently broke ground on the first phase of its nearby Assembly Innovation Park master-planned life science development on Middlesex Avenue, with a 12-story, 495,000-square-foot office lab building scheduled for completion in 2023.