Word: hre
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Dates: during 1990-1999
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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...
Harvard Real Estate (HRE) and Harvard's Planning Group will merge into a single organization on July 1, University officials announced last week...
...part of the reorganization, the position of HRE president, currently held by Kristin S. Demong, will be eliminated...
Sullivan also proposed a resolution ordering Healy to meet with HRE to insure that the recently announced allotment by HRE of several units for affordable housing does not result in a decrease in the city's property tax revenue...