As MIT rises, so does its city

Front page story in the Globe today about how MIT continues to make investments in building a better campus and community.

Over the last decade, MIT’s academic footprint has increased by more than 2.7 million square feet, its largest building boom since the federally funded postwar expansion of the 1960s. Now, as the Massachusetts Institute of Technology celebrates its sesquicentennial this month, it is beginning to turn its attention toward renovating facilities and developing neighboring commercial holdings.

The recent growth, which MIT pursued even through the recession, has injected millions of dollars into the city, augmented the university’s involvement in the life sciences, and remade once-gritty neighborhoods into one of the prime biotechnology and research centers in the country.

And in contrast to Harvard’s stalled expansion across the river into Boston’s Allston neighborhood during the recent economic downturn, MIT has managed to complete its building projects through heavy fund-raising and increased borrowing.

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