January 30, 1997
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  Harvard Planning and Real Estate Proposes New 1997-98 Rents for Affiliated Housing

Harvard Planning and Real Estate (HPRE) has proposed a new rent schedule for approximately 1,700 Harvard affiliated housing apartments open to graduate students and University affiliates. In keeping with University policy, rents have been set at prevailing market rates. The overall market increase for all present affiliated properties will be 3%. These proposed rents, which have been reviewed by the Faculty Advisory Committee on Affiliated Housing, would take effect July 1, when the 1997-98 rental season begins.

"There will be new opportunities for University affiliates [students, faculty, and staff] to live in affiliated housing since we are anticipating an increase in the supply of available apartments to affiliates," said Susan Keller, HPRE's director of residential real estate. "These apartments will be offered to affiliates for both one- and two-year lease periods at the market rates listed below. The buildings where new rental opportunities will be available are located in the Agassiz, mid-Cambridge, Riverside, and Harvard Square neighborhoods."

The rent levels for residents who are not on affiliated leases but reside in Harvard's formerly rent-controlled properties will be announced in the spring.

Harvard Planning and Real Estate performed market research before proposing this year's rent increase. In setting the proposed 1997-98 rents, an extensive database covering more than 5,000 Cambridge and Somerville apartments listed with the Harvard Housing Office by non-Harvard property owners was analyzed. Market indicators from outside sources such as the Rental Housing Association (RHA) and historical demand trends in the local market were also considered.

Proposed Rent Increase for Continuing Affiliated Residents (Not Formerly Rent Control) Is Set At 3%

To protect continuing residents from the full impact of rent escalation, HPRE will cap their rent increase at 3%. Rent for current affiliated housing residents (not formerly rent control) who renew their leases will either increase to the new market rent (ranges listed below), or 3%, whichever is less. For example, this year the proposed average rent at Holden Green for a one-bedroom apartment with a current market price of $737 will increase 1% to $744. If you live in a one-bedroom apartment at Holden Green and your current rent is below market at $706, your new 1997-98 rent will increase 3% to $727. In this case, a 3% increase is still less than the new market rent of $744 that would be charged to a new resident.

Specific rents for all 1,700 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 your continuing rent rate for 1997-98, you may call Harvard Planning and Real Estate's Affiliated Leasing Office at 495-1459.

Proposed rent increases for formerly rent control, protected residents (who are income eligible) will be 3%. Proposed rent increases for continuing, formerly rent control, nonprotected residents are yet to be determined and will be announced by mail in March.

Proposed 1997-98 Rents for New Affiliated Residents

The proposed rent ranges and average rent increases listed below are for new affiliated residents who will sign leases for the 1997-98 rental season. Because rents for apartments with the same number of bedrooms within the same complex can differ, depending on amenities, the actual percentage increases may vary. Therefore, the percentages listed below are averages.

18 Banks/8A Mt. Auburn: one bedrooms $976-$1,109, average increase 0% to 3%; two bedrooms $1,243-$1,421, average increase 2% to 4%.

Beckwith Circle: one bedrooms $664-$726, average increase 1% to 5%; three bedrooms $988-$1,042, average increase 1% to 5%.

Botanic Gardens: one bedrooms $865-$1,047, average increase 1% to 4%; two bedrooms $1,205-$1,433, average increase 1% to 4%; three bedrooms $1,716-$1,760, average increase 1% to 2%.

DeWolfe Street: one bedrooms $1,182-$1,222, average decrease 3% to 4%; two bedrooms $1,435-$1,675, average increase 2% to 3%; three bedroom $2,002, increase 4%.

29 Garden Street: studios $633-$653, average increase 4%; one bedrooms $843-$982, average increase 3%; two bedrooms $989 -$1,049, average increase 4%.

Haskins Hall: studios $725, average increase 3%; one bedrooms $743-$893, average increase 3%; two bedrooms $979-$1,129, average increase 2%; three bedroom $1,209, average increase 4%.

Holden Green: one bedrooms $737-$978, average increase 1% to 2%; two bedrooms $962-$1,212, average increase 1% to 4%; three bedrooms $1,342, average increase 5%.

Kirkland Court: one bedrooms $874-$1,037, average increase 0% to 2 %; two bedrooms $1,143-$1,392, average increase 0% to 7%; three bedrooms $1,338-$1,776, average increase 1% to 4%.

65 Mt. Auburn Street: studios $767-$837, average increase 4%; one bedrooms $926-$1,006, average increase 2% to 4%; two bedrooms $1,251-$1,321, average increase 6%.

Peabody Terrace: studios $571-$743, average increase 0% to 9%; one bedrooms $760-$939, average increase 0% to 4%; two bedrooms $975-$1,128, average increase 0% to 6%; three bedrooms $1,413-$1,461, average increase 0% to 3%.

Shaler Lane: one bedrooms $923-$943, average increase 2%; two bedrooms $1,236-$1,360, average increase 1% to 4%.

Soldiers Field Park: studios $844-$924, average increase 3% to 4%; one bedrooms $996-$1,147, average increase 3% to 5%; two bedrooms $1,292-$1,655, average increase 3%; three bedrooms $1,750-$1,871, average increase 3% to 4%.

Terry Terrace: studios $725, average increase 3%; one bedrooms $758-$913, average increase 3%; two bedrooms $1,030-$1,129, average increase 1% to 3%.

Walker Street: two bedrooms $1,250, average increase 1%; three bedroom $1,528, increase 1%.

The proposed rent ranges and average rent increases listed below are in buildings that were formerly rent-controlled. These rents are for new residents who will sign affiliated leases for the 1997-98 rental season.

472-474 Broadway: studios $549, no increase; one bedrooms $948-$985, average increase 0% to 2%; two bedroom $989, increase 6%.

27 Everett Street: one bedrooms $959-$1161, average increase 0% to 4%; two bedroom $978, increase 7%; three bedrooms $1,627, average increase 3%.

2 Holyoke Street: one bedrooms $851-$994, average increase 0% to 6%.

1306 Massachusetts Avenue: studios $754-$804, average increase 2% to 3%; one bedrooms $929-$959, average increase 2%; two bedrooms $1,251-$1,281, average increase 3% to 4%.

8 Plympton Street: studios $734-$754, average increase 0% to 3%; one bedrooms $920-$980, average increase 0% to 4%; two bedrooms $1,271-$1,291, average increase 5%; three bedrooms $1,521-$1,672, average increase 0% to 7%.

16 Prescott Street: studios $716-$795, average increase 0% to 2%; one bedrooms $850-$940, average increase 0% to 2%.

18 Prescott Street: studios $716-$731, average increase 0% to 2%; one bedrooms $850, average increase 0% to 4%.

20-20A Prescott Street: studios $666-$736, average increase 0% to 1%; one bedrooms $795-$1,000, average increase 0% to 7%; two bedrooms $1,303-$1,400, average increase 0% to 4%; three bedrooms $1,200-$1,626, average increase 2% to 5%.

22-24 Prescott Street: studios $703-$753, average increase 0% to 2%; one bedrooms $859 to $875, average increase 0% to 3%.

85-95 Prescott Street: studios $751-$850, average increase 0% to 4%; one bedrooms $966 to $996, average increase 5% to 7%.

9-13A Ware Street: studios $746-$825, average increase 0% to 5%; one bedrooms $884-$925, average increase 0% to 3%; two bedrooms $1,074-$1,200, average increase 0% to 8%.

15 Ware Street: one bedrooms $999-$1,121, average increase 0% to 3%; two bedroom $1,220, increase 3%.

19 Ware Street: two bedroom $1,041, increase 4%; three bedrooms $1,748, average increase 9% to 10%.

Wood Frame Buildings, Agassiz Area: studios $742-$841, average increase 0% to 6%; one bedrooms $875-$1,200, average increase 0% to 8%; two bedrooms $1,049-$1,759, average increase 0% to 12%; three bedrooms $1,417-$1,777, average increase 1% to 7%.

Wood Frame Buildings, Harvard Square Area: studios $564, average increase 2%, three bedrooms $1,400, average increase 2%.

Wood Frame Buildings, Harvard Square/Mid-Cambridge Area: studios $694-$725, average increase 0% to 6%; one bedrooms $838-$908, average increase 0% to 8%; two bedroom $1,114, increase 1%.

Wood Frame Buildings, Riverside Area: studios $633-$750, average increase 0% to 6%; one bedrooms $760-$850, average increase 0% to 1%; two bedrooms $972-$1,495, average increase 0% to 9%; three bedrooms $1,161-$1,271, average increase 0% to 2%.

Written comments on the proposed rents may be sent to the Faculty Advisory Committee on Affiliated Housing, c/o Harvard Planning and Real Estate, 8 Mt. Auburn St., Cambridge, MA 02138-6037. Any written comments should be submitted to the above address by Thursday, Feb. 13.

The comments received will be reviewed by the Faculty Advisory Committee which includes William Hogan, Thornton Bradshaw Professor of Public Policy and Management, Kennedy School of Government; John F. Kain, Professor of Economics and Regional Planning, Harvard University; Walter Kuemmerle, Assistant Professor, Harvard Business School; Steven Shavell, Professor of Law and Economics, 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 February.

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HPRE offers a variety of apartments with different amenities so that an affiliate can select an apartment that fits his or her individual budget. Housing advisors in the Harvard Housing Office can assist affiliates who are searching for housing. The Housing Office also has private landlord listings on a computerized listing network and bulletin boards, roommate cards, and listings of housing opportunities that exchange work for rent. Visit the Harvard Housing Office at 7 Holyoke St. or call 495-3377 for assistance.

 


Copyright 1998 President and Fellows of Harvard College