February 21, 2017
In January, the Massachusetts Institute of Technology (MIT) announced it was going to acquire the 14-acre John A. Volpe Transportation Systems site for $750 million from the U.S. General Services Administration. As part of the exchange agreement, MIT would build a new GSA facility on four acres, and redevelop the remaining acreage.
In recent days, MIT unveiled its plan for that acreage, which is bounded by Binney, Third and Broadway Streets, and across from the Boston Marriott Cambridge. Specifically, MIT is planning 1,400 residential units, and 1.7 million square feet of office and R&D space across eight buildings.
“MIT has been interested in this site for 60 years,” said Israel Ruiz, MIT executive vice president and treasurer, at a recent community meeting. “This is a once-in-a-generation opportunity to have access to that site.”
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