A major $559 million complex — which includes 220 housing units — is pushing ahead in East Cambridge, despite the current financial crunch and economic conditions. From the Herald:
Alexandria Real Estate Equities seeks approval under the Massachusetts Environmental Policy Act to build 1.5 million square feet of office and laboratory space, 220 units of housing, 20,000 square feet of retail space, 1,932 underground parking spaces and two parks on more than 11 acres near the Massachusetts Institute of Technology.
Keep in mind a couple things: a.) This project is spread over 20 years. b.) This is the second version of the plan, which previously was much bigger when originally proposed. Neighborhood residents weren’t wild about it first time around.