Last June the cash-strapped Massachusetts Bay Transportation Authority (MBTA) put out a request for bids to build on 50,000 square feet over the train tracks.

Lesley submitted a $2 million bid to use the site for three dormitories, but their bid did not meet the MBTA’s minimum of $4 million.

The other bidder, Cambridge-based Oak Tree Developers, met the monetary requirement in its plan to build condominium units—but failed to send in a deposit, as required.

Oak Tree is now looking into working with Lesley to develop housing that could become part of Lesley’s campus.

“We’ve been in Cambridge a long time and we’re here to work with the community and with Lesley and with the MBTA,” a representative from the company told residents last night.

But the process is now stalled as the MBTA seeks to get input from community members, who expressed outrage this summer when the sale of the air rights took them by surprise.

Wolf and members of the PSNA have planned a meeting on Oct. 28 to discuss options for the MBTA air rights space in Porter Square.

—Staff writer Jessica R. Rubin-Wills can be reached at rubinwil@fas.harvard.edu.