New rents for Harvard housing

first_imgDue to incorrect information supplied to the Gazette, rental rates that appeared in the original posting reflected last year’s information. The 2013-14 rates are listed below.Harvard University Housing (HUH) manages approximately 3,000 apartments, offering a broad choice of locations, unit types, amenities, and sizes to meet the individual budgets and housing needs of eligible Harvard affiliates (full-time graduate students, faculty members, or employees). Harvard affiliates may apply for HUH online (click on “I Want to Live in HUH”).  The website also provides information about additional housing options and useful Harvard and community resources for incoming and current affiliates.In accordance with the University’s fair market rent policy, HUH charges market rents for HUH. To establish the proposed rents for 2013-14, Jayendu Patel of Economic, Financial & Statistical Consulting Services performed and endorsed the results of a regression analysis on three years of market rents for more than 2,750 apartments.  The apartments included in the analysis were either posted at the HUH Office by non-Harvard property owners or were supplied by a real estate appraisal firm or a local brokerage company in order to provide comparable private rental market listings of competing apartment complexes in Cambridge and Boston. The results of this market analysis and of other market research indicate that HUH 2013–2014 market rents will increase on average 6% across the 3,000-unit portfolio relative to last year’s rents, although within the portfolio rents on some units have been adjusted up or down based on current market conditions. As always, all revenues generated by HUH in excess of operating expenses and debt service are used to fund capital improvements and renewal of the facilities in HUH’s existing residential portfolio.The proposed new market rents noted in this article have been reviewed and endorsed by the Faculty Advisory Committee on HUH* and will take effect for the 2013-14 leasing season.Proposed 2013-14 continuing rents for Harvard affiliatesMost current HUH tenants who choose to extend their lease for another year will either receive a 4% rent increase or will be charged the new market rent for their apartment, whichever rent is lower. Heat, hot water, and electricity are included in all HUH apartment rents; gas and air conditioning are also included, where applicable.  Harvard Internet service is included in most apartment rents.HUH tenants will receive an email from HUH in March 2013 with instructions on how to submit a request to either extend or terminate their current lease.  Tenants who would like additional information or help in determining their continuing rent rates for 2013-14 may call the HUH Leasing Office at 617.495.1459.Proposed 2013-14 rents for new tenants effective for the 2013-14 leasing seasonThe annual market analysis for proposed 2013-14 rents resulted in a recommendation that average rents for affiliates across the portfolio increase 6% relative to the prior year. Because Harvard’s fair market rent policy is applied on a unit-by-unit basis, market rental rates for some unit types and locations will increase and others will decrease, based on current market conditions.10 Akron Street (all utilities and Harvard Internet service included): studios $1,452–$1,772; one bedroom convertibles $1,922–$2,156.18 Banks/8A Mt. Auburn: (all utilities included): one bedrooms $1,870–$2,166; two bedrooms $2,292–$2,368.Beckwith Circle (all utilities included): three bedrooms $2,211–$2,535; four bedrooms $2,606–$2,922.Botanic Gardens (all utilities and Harvard Internet service included):  one bedrooms $1,974–$2,090; two bedrooms $2,364–$2,506; three bedrooms $2,847–$3,051.472–474 Broadway (all utilities included): one bedrooms $1,862–$1,922.5 Cowperthwaite Street (all utilities and Harvard Internet service included): studios $1,526–$1,788; one bedrooms $1,916–$1,932; one bedroom convertibles $1,958–$2,124; two bedrooms $2,222–$2,492.27 Everett Street (all utilities included): one bedrooms $2,054–$2,294; three bedrooms $3,123–$3,384.29 Garden Street (all utilities and Harvard Internet service included): studios $1,444–$1,596; one bedroom convertibles $1,906–$2,112; two bedroom efficiencies $2,038–$2,318; two bedrooms $2,386–$2,448; three bedrooms $2,994–$3,231.Harvard @ Trilogy (all utilities and Harvard Internet included):  studios $1,584–$1,774; one bedroom convertibles $2,166–$2,338; two bedroom efficiencies $2,374–$2,792.Haskins Hall (all utilities included): studios $1,506–$1,630; one bedrooms $1,758–$1,956.Holden Green (all utilities included):  one bedrooms $1,592–$1,930; two bedrooms $1,882–$2,220; three bedrooms $2,544–$2,955.2 Holyoke Street (all utilities included): one bedrooms $1,826–$1,922.Kirkland Court (all utilities included): one bedrooms $1,744–$2,060; two bedrooms $2,298–$2,570; three bedrooms $3,138–$3,309.Peabody Terrace (all utilities and Harvard Internet included):  studios $1,346–$1,784; one bedrooms $1,708–$2,054; two bedrooms $1,996–$2,384; three bedrooms $2,832–$3,099.16 Prescott Street (all utilities included):  studios $1,502–$1,552; one bedrooms $1,818–$1,934.18 Prescott Street (all utilities included):  studios $1,344–$1,394; one bedrooms $1,690–$1,878.20–20A Prescott Street (all utilities included):  studios $1,346–$1,616; one bedrooms $1,848–$2,278; two bedrooms $2,406–$2,510; three bedrooms $2,997–$3,123: four bedrooms $3,338–$3,372.22–24 Prescott Street (all utilities included): studios $1,388–$1,664; one bedrooms $1,784–$1,960.85–95 Prescott Street (all utilities included):  studios $1,504–$1,708; one bedrooms $1,846–$2,144; two bedrooms $2,204.Shaler Lane: (all utilities included):  one bedrooms $1,752–$1,866; two bedrooms $2,148–$2,366.Soldiers Field Park (all utilities and Harvard Internet included):  studios $1,588–$1,744; one bedrooms $1,886–$2,086; two bedrooms $2,254–$2,686; three bedrooms $2,640–$3,333.Terry Terrace (all utilities and Harvard Internet included):  studios $1,588–$1,658; one bedrooms $1,888–$2,060; two bedrooms $2,296–$2,366.9–13A Ware Street (all utilities included):  studios $1,524–$1,614; one bedrooms $1,830–$2,038; two bedrooms $2,270–$2,284.19 Ware Street (all utilities included):  two bedrooms $2,750–$2,864; three bedrooms $3,117.One Western Avenue (all utilities and Harvard Internet included):  studios $1,620–$1,828; one bedrooms $1,836–$2,140; two bedrooms $2,210–$2,598; three bedrooms $2,841–$3,240.Wood Frame Buildings (all utilities included):  studios $1080–$1,496; one bedrooms $1,576–$2,370; two bedrooms $1,916–$3,092; three bedrooms $2,334–$3,486; four bedrooms $3,572.Written comments on the proposed rents may be sent to the Faculty Advisory Committee on HUH, c/o HUH, 1350 Massachusetts Avenue – Holyoke Center 827, Cambridge, MA 02138.  Comments to the committee may also be sent via email to [email protected]  Any written comments should be submitted to either of the above addresses by Feb. 15, 2013.The comments received will be reviewed by the Faculty Advisory Committee, which includes: David Carrasco, Neil L. Rudenstine Professor for the Study of Latin America in the Faculty of Divinity and the Faculty of Arts and Sciences; William Hogan, Raymond Plank Professor of Global Energy Policy, Harvard Kennedy School; Howell Jackson, James S. Reid Jr. Professor of Law, Harvard Law School; Jerold S. Kayden, Frank Backus Williams Professor of Urban Planning and Design, Graduate School of Design; Jennifer Lerner, Professor of Public Policy, Harvard Kennedy School; Daniel P. Schrag, Sturgis Hooper Professor of Geology and Professor of Environmental Science and Engineering, Faculty of Arts and Sciences; John Macomber, Senior Lecturer, Harvard Business School; and Lisa Hogarty, Vice President, Campus Services (Chair), Harvard University.*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 HUH 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 HUH below market rate would be a form of financial aid, which should be determined by each individual school, not via the rent setting process.  Additionally, the cost of housing should be considered when financial aid is determined.last_img read more

Facing Down Dominion

first_imgThe grey and green lichen and moss-covered walls of stone meander through the forest like silent sentinels of history. To 84-year-old Hazel Palmer, these centuries-old rock walls embody her struggle against Dominion Energy, the utility that Palmer says will destroy the essence of her family’s mountain land with its natural gas pipeline. Her 125-acre property on the western slopes of the Blue Ridge Parkway in Augusta County has been in Hazel’s family since 1880.Palmer has refused to negotiate with Dominion for an easement on their property. “It doesn’t matter what they offer,” says Palmer. “I just want to keep the land the way it is.”The diminutive, silver-haired great grandmother is soft-spoken. But she has an inner strength that is as tough as those stone walls. Despite being in her eighties, she still rides a four-wheeler up to the top of the mountain to visit the spot marked with a tiny cross where her husband Joe lost his life in a logging accident, and she can scramble down the slopes and over the rock walls as easily as those many years younger.As a child, Palmer lived on the property in the house with her grandparents. “We raised chickens, cows, and pigs. We were self-sufficient. Even after I moved to Lynchburg with my family, I always said that I had a place to go back to if the world got too bad,” she explained.Little did she imagine that the bad of the world would come to her. The first letter from Dominion arrived in February of 2015. She couldn’t believe what she read.“I was devastated,” said Palmer. The letter explained Dominion’s plans for the Atlantic Coast Pipeline, a natural gas pipeline slated to run 600 miles from fracking wells in West Virginia to Hampton Roads, Va., and into North Carolina. Dominion claims that the pipeline is needed to supply gas-fired power plants, but Palmer doesn’t buy it. There are already plenty of existing pipelines running well below capacity, she says. And no company has ever attempted to build a pipeline of this size through the steep, rugged terrain in West Virginia and western Virginia, including the slopes of the Blue Ridge Parkway where Hazel’s land is situated.The proposed route would clear-cut a 125-foot swath diagonally across all three tracts of Palmer’s land to a point just beneath the Blue Ridge Parkway. A trench would be dug for the pipe, and excess dirt and rock excavated from the trench would be hauled back across their property. From Palmer’s property, the company plans to conduct a risky horizontal directional drilling project nearly a mile under the Blue Ridge Parkway and Appalachian Trail. One side of the tunnel will be on the eastern side of the mountain in Nelson County, and the other will be on Hazel’s property at an area that will be leveled and graded.The company also wants to take over the driveway belonging to her daughter, who also lives on the property, and turn the four-wheeler paths through the mountains into access roads.“It will be like having a four-lane highway through our property. No trees will be allowed to grow back on the 75-foot easement, so it will cause erosion and flooding in heavy rains and thunderstorms,” says Palmer.And the rock walls? Dominion’s construction documents show the pipeline path going through at least one wall.After she received Dominion’s letter, Palmer refused to let Dominion’s surveyors on her property. In Virginia, however, the General Assembly passed a law in 2004 that allows public utilities to survey private property without permission.Dominion sued Palmer for access to her property, and last year, the Augusta County judge ruled in favor of Dominion. Today, a walk up the mountainside reveals pink and orange survey tape fluttering in the forest.But Palmer appealed the case. The Virginia Supreme Court agreed recently to hear the appeal. This time her legal team argued that the company—Atlantic Coast Pipeline LLC—is not a Virginia public utility. Rather, it is a private corporation created in Delaware and therefore should not be allowed to operate under Virginia law. A ruling on the appeal is pending.“I feel like doing what is necessary to fight for my constitutional rights,” says Palmer. “Just don’t try to take something away from me that’s mine.”Palmer is a woman of quiet but resolute religious faith, and she knows well the Biblical story of David and Goliath.Says the 84-year-old Palmer, “I am not afraid to fight.”last_img read more

The times are a’changing… again

first_imgUntil recently, the last rising rate period in the U.S. occurred from 2004-2006. Then, the Fed increased rates 17 times, from 1.0 percent to 5.25 percent. That was more than a decade ago, and neither the iPhone nor the Kindle had been released yet.The world is a much different place now than it was in 2006. Much has changed since the last rising rate cycle. In particular, tools available online for consumers to rate shop and move money from one institution to another have multiplied and improved substantially. How have your credit union’s online offerings changed in the last decade? How have your competitor’s online offerings improved? The competition for deposits is already strong, and that competition is amplified in a rising rate environment.Member behavior is likely to differ in a world with nearly unlimited rate information available online, combined with convenient online account set up and money movement capabilities. Depositors have struggled through a prolonged period of historically low interest rates, and stronger demand is likely for rates higher than those in previous rate cycles. continue reading » 14SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more