BOSTON—The University of Massachusetts-Boston has signed a preliminary agreement to buy the Bayside Exposition Center to support development of the first new academic facilities on the campus in 35 years.
Spokesman DeWayne Lehman on Wednesday declined to disclose terms for the agreement with LNR/CMAT.
The 20-acre site will help the school replace parking that will be eliminated next year, when it begins construction of the Edward M. Kennedy Institute for the United States Senate, the Integrated Sciences Complex and a general academic building.
The foreclosed property will also provide space to relocate offices and classrooms during renovations to existing buildings.
The university says the acquisition will have little impact on student tuition or fees because the property will be paid for with bond funding.
The acquisition would also delay the need for the university to raise parking fees to develop new on-campus parking.