Section 11. Any corporation authorized to undertake or acquire projects under this chapter may lease land or interests in land, including air rights, or may acquire such land or interests therein, including air rights, in fee, by gift, purchase or exchange or with approval of the housing board and unless otherwise provided in this chapter, may take land by eminent domain under chapter seventy-nine for projects approved under section six, except the city of Boston and Springfield; provided, however, that the award of damages under section seven of said chapter seventy-nine shall be made by the housing board. Subject to rules and regulations of the housing board, any such corporation may hold, improve, subdivide, build upon, lease, manage and care for the land or interests therein, including air rights, and any buildings thereon owned or leased by such corporation.

Any such corporation may, with the approval of the housing board, and unless otherwise provided in this chapter, institute proceedings for the taking of land for its project under chapter eighty A, and the directors of a corporation organized under this chapter, or the directors or officers of insurance companies, banks or other authorized entities having the powers of directors of such corporation as provided in this chapter, shall be deemed the board of officers authorized to proceed under chapter eighty A; and the provisions of said chapter eighty A shall, so far as apt, apply to proceedings so instituted; but such directors or officers shall have no power to assess betterments.

Any such corporation shall have the power, with the approval of the housing board, to sell, exchange, give or otherwise transfer in whole or in part the land or interests therein, including air rights, leased or acquired by it under this chapter, with the buildings or other structures thereon, constituting a project or portion hereunder to any corporation organized under section three or section eighteen B, insurance company or companies authorized under section eighteen, bank or banks authorized under section eighteen A, or any other authorized entity under this chapter, a housing authority, redevelopment authority, or the commonwealth or any of its political subdivisions, agencies or instrumentalities but such land or interests therein, including air rights, buildings or other structures may be sold only subject to the further requirement that any change in the benefits and restrictions applicable to the grantee, donee or transferee and any other changes in the project shall not be valid unless approved in the manner provided in section six, except the city of Boston and Springfield, or section eighteen B, as the case may be.