The Necco Street parking garage in Boston’s Fort Point escaped redevelopment under two previous owners who flipped the property for big gains. The new landlord has different plans.

Life science developer Alexandria Real Estate Equities says it will seek approvals for a 175,000-square-foot project at the 10 Necco St. property, which houses a 160,180-square-foot garage containing 657 spaces.

The Pasadena, California-based REIT acquired the property on March 26 for $81 million from Multi-Employer Property Trust, which paid $56 million for the garage in January 2015. MEPT bought the garage from DivcoWest, which had acquired it in 2013 for $34 million from Goldman Sachs.

Alexandria was not immediately available for comment on whether it plans to demolish or expand the garage for the project, which was divulged in the REIT’s quarterly earnings report Monday.

Alexandria, which owns 55 properties in Greater Boston totaling 6.2 million square feet, has been eyeing development sites in the Seaport District to accommodate the life science industry’s expansion.

In March, Alexandria and Anchor Line Partners submitted plans for a 210,000-square-foot life science building at 99 A St. in South Boston, redeveloping a 1.1-acre site that includes a parking lot, former Gillette product testing lab and Coppersmith restaurant.