“Those things would have to go on our streets,” he said. “It wouldn’t be the best thing for the companies or the community.”

The Turnpike’s decision to auction off the heavily encumbered land comes in the midst of a $2.2 billion cost overrun on their Central Artery/Tunnel Project, the centerpiece of the city’s Big Dig and the largest highway construction project in American history.

“The hope is to raise as much cash as we possibly can, while keeping tolls down,” said board member Mihos.

Bid proposals for the parcels of land are due by noon on March 31, 2003.

The Turnpike is adopting a wait-and-see approach to the question of whether it would negotiate changes to the highway itself with BU, Harvard or any new owner.

“We can cross that road when we get to it,” O’Neill said.

—Staff writer Lauren A. E. Schuker contributed to the reporting of this article.

—Staff writer Alex L. Pasternack can be reached by e-mail at apastern@fas.harvard.edu.