MassDevelopment's emphasis is on discovering unused or underutilized property around the state and developing projects for the site. The nonprofit, quasi-public agency, which provides engineering, financial analysis and marketing services, has developed projects in other areas including Kerr Mill in Fall River, the Arsenal on the Charles office complex in Watertown and redevelopments at the former Fort Devens and defunct state hospitals in Foxborough and Lakeville.

The Lyman School opened in 1847 and was closed in 1971. A number of businesses and agencies currently use land at the site including Massachusetts Technology Collaborative, the University of Massachusetts and Spectrum Health Services.