Word: condominium
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...response to the city's drive to revitalize East Cambridge, a private firm has begun to build a 171-unit, $50-million luxury condominium complex...
...cause for cheers among the 33,000 members of the American Craft Council, the body that owns and operates the museum, and for the public too. The facility has set something of a cultural mark as well: it is considered to be New York's first major condominium museum. To inaugurate the new space, Museum Director Paul Smith has assembled "Craft Today: Poetry of the Physical," a wide-ranging exhibition of more than 300 pieces of ceramics, jewelry, textiles and woodwork by 286 contemporary American artisans. The show runs in New York through March 22; it will then travel...
...Walsh has pointed to the expanded opportunity for homeownership made possible by vacance decontrol of 70 percent of presently controlled units. Clearly, a prospective resident or an absentee owner with a downpayment and an income large enough to carry a huge mortgage can benefit. Clearly, a landlord or a condominium developer can benefit as rents double or triple to market rates or condos are sold to the wealthiest buyers. Clearly, the real estate brokers can benefit as market rate rental units will double in number and/or condos are sold with ensuing broker fees...
...when it comes to Harvard relations," says John Shattuck, vice president for government and community affairs. Shattuck and several community activists attributed to O'Neill a deal in which Harvard and a community committee banded together against a private developer and succeeded in dramatically changing the plans for the condominium development across from the post office on Mt. Auburn...
...dedicated condominium units shall have a right of first refusal running to the City so that they may be purchased at a price equal to 10 times the adjusted gross rent. Adjusted gross rent shall mean the rent-controlled rent minus the sum allowed for heat, hot water and other unit utilities provided by the landlord, if any. The money to make such purchases shall come from the City of Cambridge Fund as well as public and private sources. Nothing herein shall prevent the City of Cambridge from selling, on a limited-equity basis, dedicated units to qualified persons...