[bioundgrd] News About University Residential Communities

[Rachel McPherson]

You may be aware that a group of MIT and Harvard folks have been
working under the rubric of University Residential Communities, LLC
for more than three years to establish a residential community in
close proximity to the Institute.

We believe that we now have a chance to make this happen in a
property at 303 Third Street, one block from Kendall Square. If
there are indications of sufficient interest, URC will attempt to
purchase a block of units that will be organized as a Cooperative
to insure that this housing will be available over time to MIT and
Harvard affiliates.

This project, which is fully permitted by the City of Cambridge,
includes more than 500 living units in two separate buildings. One
building will be entirely for rental units and the other, of
interest to us, will contain 239 living units for purchase. The
site will have underground parking, retail space on the ground
floor facing Third Street, and indoor pool and a fitness center.
This site is across the street from the proposed Constellation
Center that will contain state-of-the-art performance halls and a
film exhibition center.

We are hosting two meetings during the week of May 22, at which
time the developer will present his plans for the buildings and
describe the living units. If there are indications of sufficient
interest, URC will attempt to purchase a block of units.

Both meetings are set for Stata 123 (the large lecture hall in the
middle of the ground floor in the Stata Center).

One meeting will be 8:00 to 9:30 am on Tuesday, May 23.

The second will be noon to 1:30 pm on Thursday, May 25.

While this meeting is of interest to URC subscribers, we extend a
cordial invitation to any members of the MIT community who have a
possible interest.

Paul E. Gray
On behalf of URC