Word: mta
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Alfred E. Vellucci, arch-critic of Harvard for his seven years on the Cambridge City Council, said yesterday that he favored the sale of the MTA's Bennett Street Yards to the University even if it submits a lower bid for the property than a private developer...
Meanwhile, John Briston Sullivan, the flamboyant Cambridge real estate developer who last year almost managed to get permission to construct a building-on-stilts on the Cambridge Common, revealed yesterday that he too is planning to bid on the MTA Yards...
...MTA wants to sell the Yards to University, it has left itself several loopholes to avoid selling to the bidder. Previous statements have that the Corporation will not to pay much above $7 million...
...MTA declared in its bill of sale the "proposed construction and use be most advantageous to the City Cambridge and in the general public as well as in the interest of the ." The advantages to Cambridge the public will be decided by the Board of Trustees...
...MTA has indicated informally that million would be a reasonable price the Yards, but informed sources say the property could command any- from $10 to $50 million, because of inflated real estate prices in Cambridge...