Word: renting
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After more than a year of consultation, including a nine-month deadlock, the University and the city of Cambridge have agreed on the fate of Harvard's nearly 700 formerly rent-controlled properties...
According to Susan K. Keller, vice president of residential real estate at Harvard Planning and Real Estate (HPRE), Harvard was already reexamining its Cambridge property in 1994 when Question Nine--the state referendum which abolished rent control--was proposed...
Harvard-Cambridge talks about the future of the University's formerly rent-controlled properties began in the spring of 1995. At that time, Harvard owned nearly 700 formerly rent-controlled units, which had comprised about 5 percent of the city's rent control housing...
First, the committee sought protection for Harvard's current low-income occupants from large rent increases. Second, the committee wanted to preserve permanent affordable housing in a city that had lost 15,000 affordable housing units with the end of rent control...
Harvard has also agreed to urge other Cambridge landlords to follow its example and sell a fraction of their formerly rent-controlled properties to the city...