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The Massachusetts Institute of Technology will pay $750 million to gain the rights to redevelop the Volpe Center 14-acre land parcel in Kendall Square, MIT and the U.S. General Services Administration announced this morning. The parcel is the last major undeveloped area in Kendall, and the timing of the agreement reflects a concerted push to finish the deal in the last days of the Obama administration after a multi-year procurement process to select a bidder.

Read the full article on Cambridge Day here.