The U.S. Department of Transportation (DOT) currently operates the John A. Volpe National Transportation Systems Center at 55 Broadway on approximately 14 acres of land in the heart of the Kendall Square neighborhood of Cambridge, Massachusetts (the Property). The Property is improved by six (6) buildings with a total approximate area of 375,000 gross square feet; two (2) surface parking lots and open space; and features frontage along Binney Street to the north, Third Street to the east and Broadway to the south. A pedestrian walkway directly abuts the western boundary of the Property.
Following the conclusion of a two-phase solicitation process, GSA entered into an Exchange Agreement with Massachusetts Institute of Technology (MIT). The Exchange Agreement requires MIT to design and construct a state-of-the-art-facility for DOT (the New Facility) on a portion of the property to be retained by the federal government. In exchange, the portion of the Property no longer needed by the federal government will be conveyed to MIT after construction of the New Facility.