A study of Kosciuszko Circle and Morrissey Boulevard took another step forward last week when Boston planning officials signed off on funds for the effort. The study comes amid a development boom in the area, from the Dorchester Bay City project at the former Bayside Exposition Site, the Beat at the Boston Globe’s former headquarters, and the redesign of Moakley Park, among others.

Morrissey Boulevard continues to see heavy traffic, and major flooding, a problem likely to continue as sea levels rise. The study, expected to cost $1 million just to start, is set to launch this summer and take 12 to 18 months.

Several state and city agencies are undertaking a joint planning study to “evaluate the existing and future multimodal transportation conditions” at the rotary, also known as K Circle, and Morrissey Boulevard, “to develop and analyze alternatives for the corridor,” according to the Boston Planning and Development Agency (BPDA).

The BPDA’s board signed off on spending $500,000 on the study last Thursday. The Massachusetts Department of Transportation is kicking in an additional $500,000.

The study area includes Preble Street on the north side, Neponset Circle in the south, with Dorchester Bay as its eastern boundary and Dorchester Avenue as its western boundary.

The study will consider a range of alternatives, from improving roadway and pedestrian connections, bus rapid transit, open space, and climate change mitigation.