Word: csx
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Harvard has held land occupied by CSX since 2000, when it purchased 47 acres of land adjacent to the Charles River and in between Harvard and Boston University from the Mass. Turnpike Authority. Three years later, it acquired another 91 acres directly south of that parcel...
...even this week’s announcement does not give Harvard the ability to develop, as its contracts stipulate that the State maintains the easements if CSX relocates. Harvard will still have to petition the State for development rights...
...Marshall emphasized that the state’s latest announcement “changes very little regarding the state of Harvard’s property at the moment” and that it would be “premature” to begin planning in Allston Landing South, where CSX operates its Beacon Park railyard. But she noted that discussions with the State and CSX “provide optimism that...opportunities for regional economic benefit from this property are closer to a reality...
Marshall also said that discussions between Harvard, the State, and CSX over the past few years have yielded a “roadmap” outlining conditions that would have to be met before CSX can fully remove its operations from the area and transfer its land holdings to Harvard, including environmental testing and “other important due diligence benchmarks...
CSX’s Beacon Park railyard has long served as one of the primary and largest entry points for freight shipping to New England. Under Wednesday’s agreement, which reportedly is to be implemented over the next few years, the State will pay $100 million to CSX to take over various railroad tracks and railyards, including those in Allston. The acquisitions are expected to improve and expand commuter rail service in and around Boston...