The University of Massachusetts Boston is seeking potential buyers for 20 acres of oceanfront property that is the former site of the Bayside Expo Center.
WBUR Radio reports that any revenue from a sale "will be earmarked for the Boston campus, including to address critical infrastructure needs," says Jeff Cournoyer, a spokesman for UMass President Marty Meehan.
Cournoyer would not say how much money the school hopes to raise with a sale, but he said it could help pay for the repair of a substructure on the Boston campus, "which could cost $150 million or more."
Last summer, the UMass Building Authority issued a "Request for Information" to developers, and 16 companies indicated an interest in buying or partnering with UMass to redevelop the site.
The university paid $18 million in 2010 for the site.
Initially, the university said it intended to redevelop the site to expand its campus. Then it was identified as the potential site of an Olympic Athletes Village, but Boston subsequently abandoned its bid for the 2024 summer games.
More recently, the site sat in limbo as New England Revolution owner Robert Kraft hoped to build a soccer stadium there. UMass and Kraft declared the deal "dead" last year.