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If the University decides to adopt this approach, co-development would require a delicate touch. Harvard would need to pin down its academic and financial goals, find a suitable partner, and enter the market at the right time.
At this point, all options are open, and Harvard has not decided what type of relationship it seeks or whether co-development should even happen, University Executive Vice President Katherine N. Lapp says.
Finding the right partner, in addition to developing at the right time, will be key to successful co-development, University officials say.
Real estate consultant Karen Backus, who specializes in working with universities and non-profits, presented members of the Work Team with 12 unsuccessful cases of co-development out of 15 projects on which her firm has consulted at a teach-in at Harvard Business School earlier this month.
The Stem Cell Institute’s Executive Director Brock C. Reeve says he hopes that the Stem Cell Institute will be part of the plan in Allston, at least in the long term, but adds that “there are many unknowns at the moment.�...