David L Ryan / Globe Staff

MIT

The Massachusetts Institute of Technology is preparing to spend $700 million to redevelop eight of its properties in Kendall Square, adding to the transformation of what is largely a commercial zone to a more pedestrian-friendly, lively neighborhood.

“MIT’s proposed new development has the potential to transform Kendall Square into a vibrant dynamic place where the activity at the ground is as cutting-edge as the science above,’’ said Cambridge’s city manager, Robert Healy.

Ten senior faculty members raised objections to the proposal, however, arguing it favored financial gain over educational and research needs.