whighlander
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Hot off the BBJ
MIT selected as developer of Kendall Square’s Volpe site
Nov 15, 2016, 3:28pm EST
Morning Edition >> Afternoon Edition >> Breaking News
Catherine Carlock
Real Estate Editor BBJ
The U.S. General Services Administration has selected the Massachusetts Institute of Technology to redevelop the federally-owned Volpe Transportation Center site in Cambridge’s Kendall Square neighborhood.
The 14-acre site is located at 55 Broadway and is widely seen as something of a last frontier of development in one of — if not the — hottest real-estate markets in the country...
“The federal government is pleased to announce the initial selection of Massachusetts Institute of Technology (MIT) as the Exchange Partner for the Volpe Project,” said Patrick Sclafani, the public affairs officer for the GSA, in an email. “The next step of the process will be the joint selection of the Design Team by the federal government and the Exchange Partner for the new federal facility.”
The GSA first released a request for information for the development of the Volpe site in August of 2014, following with a request for qualifications in July of 2015 and a request for proposals this June.
Sources with knowledge of the proposals said the seven firms vying to be selected for the Volpe’s redevelopment were Alexandria Real Estate Equities (NYSE: ARE); Biomed Realty and Longfellow Real Estate Partners; Boston Properties (NYSE: BXP); The HYM Investment Group and Tishman Speyer; MIT; Related Beal; and Skanska USA.