Word: putnam
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Dates: during 1970-1979
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Harvard acquired the land in 1969, upon the death of the wife of Charles Russell Lowell Putnam '91, a wealthy New York surgeon. Under the terms of Putnam's will, the land was to be sold outright and the proceeds were to go to the Medical School for research and teaching fellowships. The valuation of the property in the will was between $1.6 and $1.7 million. When Land-Vest finally bought the land in March 1973 it paid only...
According to Peter Mead, a vice-president of Hunneman and Company, the firm that manages Harvard's real estate in the Boston area, Land-Vest got in touch with Hunneman after seeing an article about the Putnam estate in the Vineyard Gazette. "A few other developers showed an interest, but when they found out about that insidious Kennedy bill they backed off," Mead says. "We offered the property to some bigger Boston developers, but they weren't interested...
...price that Land-Vest paid for the land "amazed a lot of people," Alley says. But Land-Vest considers that it paid "an absolute market price," says Wade Staniar, a Land-Vest executive. While admitting that lots on the Putnam estate go for considerably less than comparable lots on the Vineyard, he denies that the low price Land-Vest paid enabled them to charge so little...
...second plan would require construction of a new tunnel from Putnam Square under Mt. Auburn St. through Brattle Square, where a new entrance would be placed. The tunnel would then swing up at Hilliard St. through the Radcliffe Yard to Chauncy...
...final plan involves a tunnel from Putnam Square down Mt. Auburn St., through Brattle Square and Brattle St. under private property and the Cambridge Common. Durano estimated the cost at $75- to $96-million...