Channel Center Holdings VAF LLC has filed a notice of project change with the Boston Redevelopment Authority to preserve a Fort Point Channel building in South Boston that has been scheduled for demolition.

The building, known as 5 Channel Center St., sits on 7.09 acres and was to be demolished to accommodate the construction of a new street between A Street and Medallion Avenue, according to the filing. The 5 Channel Center St. building is six stories and currently vacant. The building was formerly known as 50-52 Midway St.

Instead of demolition, Channel Center Holdings is proposing a rehabilitation of the building and adding approximately 50,000 square feet for office, research and development uses that could possibly be related to green technologies.

Channel Center Holdings believes the development of this building would be consistent with the city of Boston’s creation of the Innovation District and the encouragement of economic development and job creation in the area.