Word: hpre
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...major landholder in Cambridge, Harvard Planning and Real Estate (HPRE) is responsible for much of the financial dealings between Harvard and local merchants and tenants. Its recent decision to transform the Holyoke arcade into a Harvard-oriented service area has been implemented in a manner that is at best negligent and at worst deceptive...
...July, all kiosk leases and some store leases will not be renewed. The arcade will then be renovated, and when it reopens, it will consist almost entirely of university-related shops and services. Some private stores that "complement" the Harvard ones will also occupy the arcade, according to HPRE Director of University and Commercial Properties Scott Levitan...
According to context provided by the Holyoke merchants, however, HPRE's decision comes in the wake of a string of false impressions which may have been intentional...
When the arcade first opened in the fall of 1993, HPRE--which was then Harvard Real Estate (HRE)--went out of its way to entice merchants to the arcade by creating the impression of considerable retail potential. HPRE wined and dined prospective merchants and threw a huge gala opening. Irma B. King Licorish, proprietor of the Caribbean-African Creations kiosk, said she feels Harvard "enticed us in here under false pretenses...
Although we agree that the Shops may not be the best investment to put in the middle of Harvard Square, we sympathize with the vendors and lament that HPRE has once again placed the value of money over the importance of human beings' livelihoods and Harvard's relations with the community...