Word: hre
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...Harvard Real Estate (HRE), known today as Harvard Real Estate Services, began its attempt to remove tenants from Craigie Arms, a 60-unit building at 122 Mt. Auburn St. that had deteriorated rapidly under rent control...
...subsidize housing for Cantabrigians.But Harvard had financial woes of its own. Even though it was Cambridge’s largest landlord, Harvard was charging rents below market value and was losing money on its real estate holdings.To address this problem, the University in 1978 formed Harvard Real Estate, Inc. (HRE), a non-profit company that would manage Harvard’s non-academic property holdings.Within three years, HRE, under the stewardship of Sally Zeckhauser, had angered tenants so much that they formed the Harvard Tenants Union (HTU) to protest allegedly unfair rent increases and negligent management.The tensions came...
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...
This strong impression was not shared solely by the shop owners. Larry Kerns, who was leasing manager for HRE when the arcade opened (he quit in August of 1994) says the financial analysis for the Shops By Harvard Yard was done on a 20- to 30-year-basis and that the arcade was "definitely not a short term project. I don't think it makes any sense for a real-estate developer to plan on such a short basis." He adds that he was "shocked" when he heard it was closing...
...part of the reorganization, the position of HRE president, currently held by Kristin S. Demong, will be eliminated...