There is a great deal of development that is slated for the Greater Boston area in the very near future. From condominium towers to expansive commercial spaces, top of the line restaurants and more, there is much to get incredibly excited about as it refers to the future of the Hub. Now, yet more positivity is making headlines as our famed education sector continues to improve. With world class universities, none is perhaps more well known than Harvard University. It has just been reported that the Harvard Business School is set to break ground on a superb facility in Allston.
After signing a contract with developers at Skanska, this project will see a $57 Million complex built to be known as the Ruth Mulan Chu Chao Center. With four stories and 87,000 square feet, the building will replace the Kresge Hall near Soldiers Field Road and will encompass executive education programs as well as have additional classrooms, a dining area, offices, and common areas. More than 10,000 students will be accommodated in such a space annually, which will also serve as the gateway building for five other buildings in the complex housing the schools executive education division.
Overall, this expansion represents just one facet of the ten year master plan Harvard has established with the Boston Redevelopment Authority. When all is said and done, some 1.4 million square feet of new space will be created for the University that will also see its campus grow across the Charles River in Allston.
The majority of the funding for the Ruth Mulan Chu Chao Center will come from the Dr. James Si-Cheng Chao and Family Foundation who donated $40 Million last year towards this vision. Mr. Chao is the founder of the Foremost Group, a New York-based shipping company. Mr. Chao and his wife, Ruth Mulan Chu Chao, recently sent four of their children successfully through Harvards MBA program.
To be designed by Goody Clancy, the project is expected to break ground in March of 2014, with the expected grand opening slated for May of 2016.
More Information: Boston Business Journal