New Jersey developer Roseland Property Co. is set to move forward early this year with the second phase of its Portside at East Pier multifamily complex in East Boston.

In a change of strategy, Roseland is now planning 454 apartments and only 103 condominium units in the complex in the Jeffries Point neighborhood. It previously obtained approval for 370 condos and 173 apartments. Roseland notified the Boston Redevelopment Authority of the changes Dec. 30.

Roseland opened the first phase of development, a 176-unit apartment building, in mid-November. The complex includes 10 extended-stay suites for business travelers leased by Stoneham-based Northeast Suites under a multi-year agreement.

The development is built on a 26-acre parcel leased from Massport at the end of Marginal Street, near the Maverick stop on the MBTA’s Blue Line.

Average rents for one-bedroom units in the first phase are $2,400 a month. Roseland is marketing the complex as a less expensive alternative to luxury rentals in downtown Boston and the Seaport.

The project also includes 70,000 square feet of commercial space.

Roseland originally proposed a 600-unit, eight-building apartment complex. In 2005, the BRA approved modified plans for 176 rentals and 314 condo units. In 2006, the mix was changed slightly for 173 rentals in 543 condos. The project stalled during the recession before being revived in 2012.

According to a report released Tuesday by commercial real estate brokerage CBRE, Greater Boston had the 15th most active multifamily construction pipeline from January through November 2014, with 5,937 units permitted for condos and apartments.