Word: hre
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Harvard is also in the real estate business. With more rental units to its name than any other property owner in the city, the University and its management company, Harvard Real Estate (HRE), are famous throughout Cambridge for their work in the real estate business...
Craigie Arms--a group of five buildings around a courtyard--will be vacant on May 1, when its last remaining occupant is scheduled to move out. Many tenants left after receiving cash settlements or alternative housing from HRE...
...current HRE proposal for renovations, which would be partially financed by the Massachusetts Housing Finance Agency (MHFA), adds 50 units to the tight Cambridge housing market. Thirty percent, or 15 units, of those would be subsidized for low and moderate income Cantabrigians as required by the MHFA...
Even neutral Rent Control Board Executive Director Roger Mervis conceded last week that tenants, through their lobbying group the Cambridge Rent Control Coalition, view a vote for HRE as "a paradigm for all the ills and shortcomings of the rent control policy...
...least three of the five board members disagreed that the 85 year old building's present deterioration is due to intentional neglect on HRE's part...