Breakthrough Properties, backed by a joint venture of Tishman Speyer and Bellco Capital, has begun construction on the redevelopment of One Canal by Breakthrough, a four-story lab and office building in Cambridge, MA.

The property, acquired by Breakthrough in 2021 for a reported $130 million, is being updated to accommodate more than 105,000 square feet of research and development space.

One Canal by Breakthrough will feature a ground-floor lounge, private outdoor spaces, building concierge, fitness center, adjacent parking and onsite retail options. It is adjacent to the planned 650,000-square-foot Cambridge Galleria center and the 4.5 million-square-foot Cambridge Crossing innovation hub.

The 2019-founded Breakthrough has 4.6 million square feet of life science projects in the pipeline across Boston, San Diego, Philadelphia, Amsterdam, Oxford and Cambridge. In Boston, Breakthrough recently delivered The 105 by Breakthrough at 105 West First Street.