Online applications accepted for rentals
Harvard Planning and Real Estate (HPRE) offers a variety of apartments with different amenities so that a Harvard Affiliate can select an apartment that fits his or her individual budget. Housing advisers in the Harvard Housing Office can assist Affiliates who are searching for housing. As an added convenience, Affiliates may now apply for Affiliated Housing online at http://www.hpre.harvard.edu/RRE/affiliate/appproc/.
The Harvard Housing Office also has private landlord listings on a computerized network and bulletin boards, roommate cards, and listings of housing opportunities that exchange work for rent. Stop by the Harvard Housing Office at 7 Holyoke St. or call (617) 495-3377 for assistance.
Affiliates may also access information about a variety of housing options by visiting HPRE’s housing home page at http://www.hpre.harvard.edu/RRE/.
Proposed 2001-02 rents for current Affiliated residents living in Affiliated Housing:
Harvard Planning and Real Estate (HPRE) has proposed a 5 percent rent increase for current Affiliated Housing residents who live in the approximately 2,300 Harvard Affiliated Housing apartments. The proposed 5 percent increase for current Affiliated Housing residents has been reviewed by the Faculty Advisory Committee on Affiliated Housing and would take effect July 1, for a term of one year, when the 2001-02 rental season begins.
In keeping with the University’s fair market rent policy that was established in 1983 by a faculty committee chaired by Professor Archibald Cox, the rents for Affiliated Housing are set at prevailing market rates. The original faculty committee determined that market rate pricing was the fairest method of allocating apartments and that setting rents for Affiliated Housing below market rate would be a form of financial aid that should be determined by each individual school, not the rent-setting process.
Additionally, the cost of housing should be considered when financial aid is determined.
HPRE performed market research before proposing this year’s rent increase. In setting the proposed 2001-02 rents, a database covering more than 4,100 Cambridge and Somerville apartments listed with the Harvard Housing Office by non-Harvard property owners during the past three years, was analyzed. Market indicators from outside sources and historical demand trends in the local market were also considered. The market research suggested that rents should be raised 12 percent. However, after reviewing the market research, the Faculty Advisory Committee expressed concerns about an overall increase of 12 percent and were not convinced that escalating increases were a definite trend.
“Since the market rents being recommended to the Faculty Advisory Committee by HPRE will not go into effect until July of 2001 and the latest economic indicators suggest that there may be a slowdown in the economy, we prefer to have rents set at the lower end of the band of market rents,” said Susan Keller, HPRE’s director of Residential Real Estate. “In addition, to protect continuing residents from the full impact of rent escalation, HPRE will cap the rents of current tenants at 5 percent,” Keller said.
This year, Botanic Gardens, Peabody Terrace, Soldiers Field Park, and Terry Terrace have the added amenity of IT data-wiring that provides a connection to the Harvard network. An additional charge of $35/month for studios and one-bedroom apartments, and $55/month for two- and three-bedroom apartments will be added to rents at these complexes for this service.
For the remaining apartments in the Affiliated Housing portfolio, residents can elect to purchase an IT connection through AT&T Roadrunner, Verizon, or Qwest Communications. The additional cost is approximately $40 to $60 per month and is paid directly to the vendor.
Specific rents for all 2,300 apartments will be detailed in the lease renewal packages that will be distributed to all Affiliated residents in March. For additional information or help in determining a continuing rent rate for 2001-02 renters can call Harvard Planning and Real Estate’s Affiliated Leasing Office at (617) 495-1459.
Proposed rent increases for continuing former rent-control residents:
Proposed rent increases for continuing former rent-control residents who reside in Harvard’s properties will be announced in late March or early April.
Proposed 2001-02 rents for new Affiliated Residents who sign leases as of July 1, 2001:
This year, market research suggests a 12 percent increase in market rents. As mentioned above, after reviewing the latest economic indicators, which suggest there may be a slowdown in the economy, the increase for all Affiliated properties will be 7 percent for new Affiliated residents who sign a lease for the 2001-02 rental season.
An additional charge of $35/month for studios and one-bedroom apartments, and $55/month for two- and three-bedroom apartments will be added to rents at Botanic Gardens, Peabody Terrace, Soldiers Field Park, and Terry Terrace for the added amenity of IT data-wiring that provides a connection to the Harvard network.
These proposed rents have been reviewed by the Faculty Advisory Committee on Affiliated Housing and would take effect July 1 when the 2001-02 rental season begins. All excess revenues generated by Affiliated Housing are saved to fund capital renewal of the facilities. Depending on the property, the apartments will be offered to Affiliates for either one- or two-year lease periods. Market rate averages for these apartments are listed below:
- 18 Banks/8A Mt. Auburn: one bedrooms $1,173-$1,288; two bedrooms $1,530-$1,587.
- Botanic Gardens: one bedrooms $1,219-$1,269; two bedrooms $1,442-$1,687; three bedrooms $2,110.
- DeWolfe Street: one bedrooms $1,348-$1,380; two bedrooms $1,681-$1,722; three bedrooms $2,410.
- 29 Garden St.: studios $837; one bedrooms $1,052-$1,146; two bedrooms $1,293.
- Haskins Hall: studios $1,029; one bedrooms $1,163; two bedrooms $1,453; three bedrooms $1,679.
- Holden Green: one bedrooms $1,064-$1,199; two bedrooms $1,332-$1,494; three bedrooms $1,810.
- Kirkland Court: one bedrooms $1,194-$1,350; two bedrooms $1,544-$1,771; three bedrooms $1,614-$2,203.
- 65 Mt. Auburn St.: studios $1,010; one bedrooms $1,160-$1,291; two bedrooms $1,577.
- Peabody Terrace: studios $892-$928; one bedrooms $1,067-$1,106; two bedrooms $1,339-$1,391; three bedrooms $1,782-$1,885.
- Shaler Lane: one bedrooms $1,162; two bedrooms $1,553-$1,629.
- Soldiers Field Park: studios $1,013-$1,122; one bedrooms $1,234-$1,305; two bedrooms $1,587-$1,831; three bedrooms $2,143-$2,324.
- Terry Terrace: studios $997; one bedrooms $1,144; two bedrooms $1,502.
- Walker Street: two bedrooms $1,699; three bedrooms $2,020.The proposed average rent ranges and percentage adjustments listed below are in buildings that were formerly rent-controlled. These rents are for new residents who will sign Affiliated leases for the 2001-02 rental season:
- 472-474 Broadway: one bedrooms $1,228.
- 27 Everett St.: one bedrooms $1,174-$1,449; three bedrooms $2,116-$2,278.
- 2 Holyoke St.: one bedrooms $1,148-$1,268.
- 1306 Massachusetts Ave.: studios $977; one bedrooms $1,121; two bedrooms $1,542.
- 8 Plympton St.: studios $919-$977; one bedrooms $1,174; two bedrooms $1,602-$1,680; three bedrooms $1,834-$1,907.
- 16 Prescott St.: studios $954; one bedrooms $1,110-$1,165; two bedrooms $1,178.
- 18 Prescott St.: studios $954; one bedrooms $1,110.
- 20-20A Prescott St.: studios $988; one bedrooms $1,163-$1,228; two bedrooms $1,630; three bedrooms $1,582-$2,264.
- 2-24 Prescott St.: studios $967; one bedrooms $1,146.
- 85-95 Prescott St.: studios $982-$1,053; one bedrooms $1,239.
- 9-13A Ware St.: studios $1,005; one bedrooms $1,180; two bedrooms $1,540; three bedrooms $1,545.
- 19 Ware St.: two bedrooms $2,150.
- Wood Frame Buildings, Agassiz Area: studios $985; one bedrooms $1,167; two bedrooms $1,514; three bedrooms $1,987; four bedrooms $2,504; five bedrooms $3,973.
- Wood Frame Buildings, Harvard Square/Mid-Cambridge Area: studios $912; one bedrooms $1,092; two bedrooms $1,471.
- Wood Frame Buildings, Riverside Area: studios $845; one bedrooms $1,018; two bedrooms $1,297; three bedrooms $1,727.
Written comments on the proposed rents may be sent to the Faculty Advisory Committee on Affiliated Housing, c/o Harvard Planning and Real Estate, 10 Mt. Auburn St., Lower Level, Cambridge, MA 02138-6010. Comments to the committee may also be via e-mail to email@example.com.
Any written comments should be submitted to either of the above addresses by Friday, Feb. 16.
The comments received will be reviewed by the Faculty Advisory Committee, which includes Peter T. Ellison, Dean of the Graduate School of Arts and Sciences; William Hogan, Lucius N. Littauer Professor of Public Policy and Administration, John F. Kennedy School of Government; Jerold S. Kayden, associate professor of urban planning, Graduate School of Design; Daniel P. Schrag, professor of earth and planetary sciences, Harvard University; Steven Shavell, professor of law economics and business, Harvard Law School; and Sally Zeckhauser, vice president for administration (chair), Harvard University.
After the comments are reviewed and considered, the final rent schedule will be published in March.