A residential building at 495 Dorchester Ave. in the On the Dot project/Image courtesy of Utile

Developer Core Investments formed a joint venture with a Chicago developer on its South Boston development known as On the Dot.

The master-planned project is approved for 3.8 million square feet on 21 acres off Dorchester Avenue near Andrew Square. Plans approved by the Boston Planning & Development Agency in 2023 including 1,460 housing units in five buildings, and six office and lab buildings.

Chicago-based Sterling Bay will partner with Boston-based Core Investments on the project. Sterling Bay has an 8.3-million-square-foot portfolio nationwide.

Sterling Bay developed McDonald’s headquarters in 2018 and Google’s Midwest headquarters in 2019, both in Chicago’s Fulton Market neighborhood. In July, the firm placed three Fulton Market sites on the market including one approved for a 500,000-square-foot office building, according to a CoStar report.

Core Investments originally proposed an Amazon last-mile distribution center for a portion of the site, which was previously used for construction storage and a junkyard.

The plans call for buildings ranging from 150 to 225 feet located between Dorchester Avenue and the MBTA tracks.

The first phase will include three commercial buildings and one multifamily building, developers said. An apartment building will be the first construction.