Word: bostons
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Dates: during 1990-1999
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Harvard's recently announced commitment to fund affordable housing with $20 million in loans and a $1 million grant could eventually create up to $400 million for the Boston area--an unprecedented contribution, according to local housing non-profits...
...addition, Harvard's example will encourage other private institutions and the government to contribute to affordable housing, according to Mathew A. Thall, senior program director of Boston's Local Initiatives Support Corporation (LISC), a nonprofit organization which will dispense $10 million of the loan...
...Boston and Cambridge officials attending the announcement at the Kennedy School of Government praised Harvard--once seen as a brazen, self-serving neighbor--for taking an active role in community development...
...This announcement puts another building block in the foundation of a strong relationship between Harvard University and the city of Boston," said Boston Mayor Thomas M. Menino at the press conference...
Prices of homes in Massachusetts have risen 233 percent since 1980, more than twice the national average, and Cambridge and Boston have lost over 20,000 units of affordable housing over the past five years, creating what Menino termed a "crisis in housing...