Redevelopment of DOT's Volpe Center Planned
The U.S. General Services Administration has issued a Request for Information seeking ideas from the real estate development community to redevelop the John A. Volpe National Transportation Systems Center property in Cambridge, Mass.
The U.S. General Services Administration has issued a Request for Information seeking ideas from the real estate development community to redevelop the John A. Volpe National Transportation Systems Center property in Cambridge, Mass. Working with the U.S. Department of Transportation, GSA will use these ideas to create a deal structure that will provide DOT with a state-of-the-art facility for transportation research; the center has been conducting research with partner agencies on improving the safety and efficiency of transportation systems for nearly 40 years.
DOT's announcement said the federal government intends to acquire the facility through a real property exchange and "would convey significant portions of the real property located at 55 Broadway in Cambridge, Massachusetts, to a private developer in exchange for consideration in the form of construction services." This project is the first time a federal agency has transferred a facility to GSA for innovative development, it says.
"GSA is using our exchange authority in new ways to get the best deal for the American people. This innovative approach will allow us to partner with the private sector to get the most out of this land and create economic development opportunities," said GSA Administrator Dan Tangherlini.
"This innovative opportunity will allow the U.S. Department of Transportation to strengthen the Volpe Center's research capabilities at no cost to taxpayers, by finding new uses for existing property that will support development of a modern research facility. The Volpe Center has a tremendous track record of providing excellent work and analysis in the transportation research field," DOT Deputy Secretary Victor Mendez said. "This approach will ensure they continue to do so far into the future."