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Harvard, Tishman to Build Allston Mixed-Use Development
Harvard University and Tishman Speyer are advancing plans for a significant mixed-use development in Allston, MA., surpassing their current project in scale, Boston Business Journal reported.
Tishman Speyer submitted a letter of intent to the Boston Planning and Development Agency for the next phase of Harvard’s enterprise research campus. The proposed Phase B would entail 720,000 square feet of lab-and-office space, 320,000 square feet of residential space, as well as ground-level retail and community areas.
Community engagement remains a priority, with forthcoming filings to the BPDA anticipated to initiate the review process. The negotiation of Phase A involved commitments such as 25% income-restricted apartments. Phase B aims to build upon the urban design and programming concepts established in Phase A. Financing for Phase A involves a $750 million investment led by a Quebec pension fund.
