Four NBA All-Stars are helping fund a new Harvard University real-estate development, joining more than 150 Black and Latino professionals in backing the roughly $1 billion project.
Kyle Lowry of the Toronto Raptors, Andre Iguodala of the Miami Heat, Jrue Holiday of the Milwaukee Bucks and Andre Drummond of the Los Angeles Lakers are part of an investment group putting $30 million into the Boston development.
That group also includes Black and Latino lawyers, doctors, tech workers and real-estate professionals.
After developer Tishman Speyer submitted a proposal to build the project, Harvard asked the New York firm if it would commit to selling 5% of the development to Black and Latino people. Tishman agreed, said Chief Executive Rob Speyer.
The first phase of the new development, which is currently seeking city and state approval, would span around 900,000 square feet and feature lab space, offices, retail, apartments and a hotel. Tishman Speyer is building the project on land that it will lease from Harvard University’s Allston Land Company for 95 years.