Harvard Completes Sales for Buildings Located on Mass Ave in Square Area

To further Harvard's continuing interest in owning residential buildings to provide housing for its affiliates, the University last week purchased three buildings on Massachusetts Avenue which could provide up to 85 apartments.

In addition to residential housing, the buildings also contain the Belgian Fudge ice cream store, Yenching, a Chinese restaurant, and the Harvard Bookstore.

The property became available to Harvard as a bequest option in the will of Theodore Storer '18. The University completed the transactions last Friday.

Harvard has paid $691,000 for the buildings, but negotiations still underway may change that price, Sally Zeckhouser, operations director of the Harvard Real Estate Corporation said yesterday.

Zeckhouser said the price is still under discussion pending what lawyers "feel are construction repair expenses."

The University has no immediate plans for use of the buildings and will not evict tenants from their apartments.

More Buildings

"This acquisition just really adds to our stock," Zeckhouser said, adding that the University would like to be able to provide housing for people who come to work or study at Harvard.

Employees and residents of the buildings said earlier this week they do not expect any changes under their new owners.

Harvard owns approximately 200 acres of property in Cambridge that includes its academic buildings and dormitories, as well as numerous residential buildings that are rented to tenants who have no University affiliation.

The recently formed Harvard Real Estate Corporation, which does not yet have an executive director, manages all the University's real estate.