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**City of Boston and Northeastern University Finalize 10-Year Master Plan Agreement**
The City of Boston and Northeastern University have finalized new agreements on an Institutional Master Plan (IMP) and a Payment-in-Lieu-of-Taxes (PILOT) arrangement. These agreements include major housing commitments and community benefits, set to support both the university and the surrounding neighborhoods.
Under the IMP, Northeastern plans to launch eight new projects over the next decade. These include the development of new on-campus student housing, the long-anticipated redevelopment of the historic Matthews Arena, and the enhancement of academic spaces.
As part of the agreement, Northeastern has also committed to a new five-year PILOT deal with the city. This arrangement includes over $49 million in combined cash and community benefits. Notably, Northeastern will raise its annual PILOT cash payments from $1.9 million in fiscal year 2025 to $2.6 million by fiscal year 2030. This marks the first formal written PILOT agreement between the city and the university in decades.
“Northeastern’s Institutional Master Plan represents a balanced approach that allows the university to invest in its institutional growth with a renewed commitment to housing stabilization for the surrounding communities,” said Boston Chief of Planning Kairos Shen.
The agreement is seen as a milestone step in aligning the university’s expansion with community needs and city development goals.
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