Word: terraceeating
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Once the DeWolfe building is fully occupied, the College will no longer rent apartments from Harvard Real Estate. According to Harvard housing officer Catherine M. Millet, 136 undergraduates presently live in the annex apartments, which include Peabody Terrace, Botanical Gardens, 29 Garden St. and 18 Banks St.
Ten cars parked in the Peabody Terrace garage suffered about $3500 in collective thefts last week, police reported yesterday.
Although some undergraduates live at Peabody Terrace, most residents are graduate students, often with their families.
The 1968 agreement was the culmination of a four-year struggle between Harvard and the city over the tax status of Harvard's affiliated housing complex at Peabody Terrace. Since 1964, Cambridge had sent the University tax bills for the property--which Harvard paid under protest.
Under the terms of an out-of-court settlement in 1968, the city agreed not to tax the building directly, so long as Harvard made an annual in-lieu-of-tax contribution based on the gross rentals of the Peabody Terrace apartments.