Massachusetts Institute for Technology has unveiled plans for a 174,000-square-foot development to house its newly-formed hub for computer science, artificial intelligence and data science programs.

The Skidmore, Owings & Merrill-designed building at 51 Vassar St. will house academic, office and research lab space for the MIT Schwarzman College of Computing, founded in 2018 following a $350-million donation from real estate mogul Stephen Schwarzman, CEO of Blackstone. The university describes the $1-billion initiative, including the new building, a new dean and 50 additional faculty positions, as its biggest restructuring since the 1950s.

The College of Computing includes two research pavilions flanking a convening staircase known as the “Collaboration Cascade.” A shingled glass facade contrasts with surrounding buildings while providing high energy efficiency, MIT said in a special permit application filed with the Cambridge planning board.

The eight-story building would partially cantilever over the railroad tracks on the north side of the property, and preserve 11,853 square feet of open space on the south and west portions of the site and along the planned Grand Junction Multi-Use Path, according to application materials submitted to Cambridge planning department.

A two-story academic and institutional building that previously occupied the site was recently demolished.