Word: groves
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Dates: during 1990-1999
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...Grove Properties and the City of Cambridge had come to a verbal agreement last summer...
...apartment complex called 929 House, located four blocks from Harvard Yard on Mass Ave., is being sold to Grove Properties, a Connecticut firm. The complex, with a 57-tenant capacity, currently houses 43 low- and moderate-income residents...
Because the mortgage was paid off when the building was sold, Grove Properties may eliminate most of the subsidized housing, except for 24 units protected permanently by Cambridge zoning laws...
Initially, Grove Property Trust and the City of Cambridge had a verbal agreement that Grove would keep all the affordable units in exchange for a $2.3 million low-interest loan from the city, representing the difference between the market rent price and the affordable-housing price...
However, in mid-December, after presenting the proposal to their board of trustees, Grove told Cambridge that the deal was unacceptable, angering the councillors-who are considering seizing the property from Grove in exchange for the market price...