Details of one of the key projects outlined by Harvard University in its revised 10-year Institutional Master Plan (IMP) that was approved by the Boston Redevelopment Authority this fall were recently revealed.
The university’s new Business School building will be developed by Skanska USA, the American development and construction arm of the Sweden-based Skanska Group. According to a news release from the company, the $57 million structure will replace the existing Kresge Hall, a three-story building in Allston (highlighted in HBS’ campus map at right) that has been used for decades for meals and reunions.
With an official groundbreaking set for March 2014, the new educational facility—named “Ruth Mulan Chu Chao Center” to honor the $40 million gift received from the Dr. James Si-Cheng Chao and Family Foundation in October 2012 meant to support the new development project and secure fellowships for students of Chinese heritage—is expected to open in May 2016.
Designed by Goody Clancy architectural firm of Boston to achieve LEED certification, the four-story education center will serve as a hub for the more than 10,000 students who will attend executive education classes annually. The 87,000-square-foot building will be located near Soldiers Field Road. It will include classroom space, dining halls, offices and common areas.
Harvard University’s IMP for the next ten years also includes a new basketball venue with 3,000 seats, 250,000 square feet of new student housing and office/academic space, a 200-room hotel with conference space, as well as a mixed-use office and retail building that will replace the existing Charlesview Apartments at the intersection of North Harvard Street and Western Avenue.
Harvard Business School campus map via Harvard Magazine