Harvard University has finally completed acquiring land at Allston Landing. The university first started snapping up sections of the railroad and industrial land in 2000, and they acquired more in 2003. Progress slowed due to the fact that the railroad, CSX Transportation of Florida, continued to operate on the land. However, in 2009, the railroad agreed to "yield up" its easements, which paved the way for the latest and final acquisition.
The 19.6-acre parcel was acquired by Harvard for $97 million on December 16. With this purchase, the university now owns a 90-acre plot, which is the future site of the John A. Paulson School of Engineering and Applied Sciences. The science and engineering complex will be located at 114 and 140 Western Avenue, and it will sprawl across more than 500,000 square feet of space. An enterprise research campus will also be developed at the site.
Down the line, the Massachusetts Department of Transportation will realign a section of the Massachusetts Turnpike to open up an additional 50 acres of land for Harvard. This land will be developed into a mixed-use, pedestrian-friendly district with several connections to the Charles River.
As always, stay tuned to Boston City Properties for the latest information about this and other Boston-area real estate developments.
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