Keeping a Close Eye On The Harvard Allston Expansion
With the announcement of the construction slowdown of the science complex in Allston, some of us Allston residents realized that there may very well be a large hole in the ground for many more years to come.
Suddenly, we looked around and saw that there were many issues with the Harvard 50 year plan for Allston that the neighborhood needs to keep an eye on. For those that live in Allston / Brighton, or in Cambridge, or in Boston, we need to be more vigilant to prevent our town from becoming nothing more than empty buildings for the next 50 years.
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How hard is it to spend $261?
Posted on April 10th, 2009 2 commentsI got the letter from Michael Flaherty that was mentioned on the Allston Brighton Community Blog (1). According to Mr. Flaherty Harvard still has $28 billion in its endowment up from $9 billion in 1997. They could pay for the Science Center with cash and it would only take 3.6% of their current endowment. For the median American household that’s like spending $261 (1). Honestly we’d be happy if Harvard spent far less than $1 billion on the rental properties they own and on efforts to lease them. Maybe they should move some money from imaginary bucket number 1 into imaginary bucket number 2 and placate us and their students (3).
(1) http://allston02134.blogspot.com/2009/03/keeping-our-promises.html
(2) $45,016 (median US household income) * 16.1% (average US savings rate) * 3.6% ($1 billion/$28 billion)