Dave Eisenberg for BostInno:

Terrafugia, based in Woburn [MA] and founded in 2006 by MIT trained aeronautical engineers will debut the Transition® Roadable Aircraft (that’s a street legal airplane to my plebeian friends) at the 2012 New York International Auto Show.

At $279,000, this isn’t going to pop up in everyone’s driveway any time soon. But it’s a neat idea that’s getting a lot closer to reality than most “flying car” designs ever do.