Why can’t Allston be more like Beverly?

I’ve seen a number of comments defending the status of 176 Lincoln St status as not leasable.  The claim is even if it were fixed up no innovative company could rent that space in the current economic climate.

My questions is why can’t this building become another Cummings Park-like property?  In Beverly, Cummings (1) took a HUGE old factory and transformed it into 100s of small, medium and large office suites.  Small and start up businesses flocked to the complex.  Those who were successful moved into progressively larger offices or off campus to the local community.  Rents for small offices were reasonable.  Cummings made its money off many small tenants instead a small number of large tenants.  Locally a building on Braintree St is used for a similar purpose, but is more aimed at artists.

Some would claim that Harvard can’t afford to develop this property.  I would say how can they afford not to develop this property and others in Allston.  With minimal investment they could be revenue generating for the next 30 to 50 years until Harvard needs them back.  

No one expects Harvard to empty its endowment to rebuild Allston.  What people do expect is when you own that much property that you have a clear plan for it - both short and long term.  One would also expect some course correction due to changing circumstances.   There HAS to be a middle ground between doing NOTHING (the current short term plan) and building a $1 billion building (the old short term plan).

(1) http://www.cummings.com/

The Mysterious 85%

By now, this is old news. Not that we like to make a habit of re-publishing old news, but this is so important to the heart of our complaints that we are going to do it anyway, plus add a little of our own analysis.

As the Allston / Brighton Tab reported (1) on March 26:

“David Raszmann, Harvard’s director of property development, showed maps that indicated properties that have already been leased and those the university considers unleasable. Currently, 33 out of the 43 properties have been leased, totaling 85 percent of the total leasable square footage the university owns in Allston, according to Raszmann.”

Well, that seems reasonable, doesn’t it? 85% leased is not a bad number, I think we would all be happy with that. But why then are there still so many empty buildings all over the place?

Lets dig deeper into that curious word Raszmann used, “unleasable”

As reported by the Harvard Crimson  (2) this month as well, the “unleasable” buildings that Harvard is not including in that 85% are actually quite numerous, and total almost as much square feet as they consider “leaseable”

For instance, the Crimson states that:

” 85 percent of Harvard’s 892,317 square feet of leasable property in Allston had tenants.”

While excluding:

“But that number excludes the 790,000 square feet of property that Harvard designates as “non-leasable,” a controversial definition Harvard gives spaces it says are either unfit for tenants or reserved for construction plans.”

So lets do some math! 85% of 892,317 is 758,469 Sq Feet that is currently leased.

Leaving 133,848 of “leaseable” Sq feet empty. Add to that the 790,000 “unleaseable” sq feet and we get a whopping total of: 923,848 Vacant Sq Ft of buildings, owned by Harvard, in North Allston.

So what percent is that really you ask? Well 758k space is leased, and 924k of space isnt.

That’s 924k / 1682k total space = ~ 55% is actually vacant.

So the real number isn’t 85% leased, but actually more like approximately 45% leased. That number feels about right when you walk around North Allston and see all the vacant store fronts.

(1) http://www.wickedlocal.com/allston/news/x67541667/Harvard-says-most-of-its-leasable-Allston-land-is-already-leased

(2) http://www.thecrimson.com/article.aspx?ref=526951

Mad Daps

I’d like to thank Adam Gaffin (1) and Harry Mattison (2) for mentioning our blog in their posts below.  I’m an avid reader of both of their blogs and especially commend Mr. Mattison for his involvement in and commitment to the Allston community.  

(1) http://www.universalhub.com/node/24125#comment-78362

(2) http://allston02134.blogspot.com/2009/03/this-is-harvard.html

Allston Vacant Property

What used to be Kmart, Frugal Fannies, and many other stores, is now mostly empty storefronts

What is Harvard? Well, on the glossy student books, wonderful pictures of Harvard Square, brick paved sidewalks, and a vibrant Harvard Square often come to mind. For the residents of Allston however, we have a very different view point. When we “see” Harvard, what we actually see, everyday, multiple times per day, are nothing but empty store fronts and empty promises.

What really depresses us is that we see things like this on our way to and from work:

Empty storefronts, which used to provide jobs, tax revenue for Boston, and most importantly created a vibrant and active neighborhood, are now owner by Harvard and have no plans to be renovated or leased out again for many many years to come!

We should really be asking the question, why can’t Harvard rent these buildings out? They are perfectly suited for a variety of uses, and could be leased easily…

Another example, right across the street:

Why doesn’t Harvard put these onto those glossy student magazines?

Harvard, landlord to more empty buildings and destroyer of neighborhoods? Small businesses are the cornerstone of the US and without them, we could never have a healthy economy, or for that matter, a healthy neighborhood. Sure, we like Harvards 50 year plan, if it actually happens, but in the meantime, we need to get these buildings re-leased and re-populated.

Speaking of which, I saw this sign come up the other day at the intersection of Western Ave and N. Harvard Ave (Barrys Corner):

Cranes Over Allston! Not for long it seems

Prime Retail for lease!

Yes, this is the kind of sign we should see more often. But, is this really prime retail? And old gas station with the tanks and pumps removed…what could really go here? This has to be “least” prime piece of retail Harvard is offering for lease. Considering the building would likely have to be totally demolished, what are the lease terms? Likely, it would have to be at least a 50-year lease to get an ROI for whatever building the new owner would erect. Still, I hope somebody takes them up on their offer. And I hope, for the sake of Allston, that Harvard offers the rest of their buildings up for lease too. Our neighborhood depends on it.

The Lights Are On But Nobody’s Home

3/24/2009 8:13 PM Open side door at Kmart

On Tuesday night, while walking by the abandoned Kmart (1) on Litchfield street I came upon an open door. Some of the lights were on inside, but there were no sounds of movement or people. With my girlfriend yelling “Oh my God, this how horror movies start!” I snapped a picture and we continued home with our cornopia from Big Daddy’s.

So Harvard can help the neighborhood… by supplying a huge location for squatters displaced by the housing crisis!  Maybe they’ll start a fire and the current blight will be replaced by a new uglier blight. We can only hope that if this were to happen no lives would be lost like in Worcester.

(1) http://maps.google.com/?ie=UTF8&ll=42.361549,-71.139269&spn=0.002442,0.005665&t=h&z=18

Harvard’s Empty Lincoln St in Allston

176 Lincoln St Allston NOW and owned by Harvard

What 176 Lincoln St Allston should have been

The Technology Center at 176 Lincoln St could have given Allston a newer, more advanced workplace (1).  Visible from the Mass Pike (2) it could have been the clean face to an Allston that had become even dirtier than its stockyard days.  Judging from tax records (3) and my poor memory the building was near completed in 2004, then was gobbled up by Harvard in 2006 (4).  Today (5), 3 years later, it looks more blighted than the West End ever could have.

What are Harvard’s plans for this building?  They’re going to do something with it in the next 50 years.  Something clever?  I have a clever, shovel ready, economic stimulus idea — Sell the building to someone who will develop the building and allow small, innovative businesses to move in.  This building sits at the gateway to Boston and the only impression it presents is one of decay and neglect.

Well if the Harvard plan continues on its current course the building will hopefully be consumed by the weeds in the parking lot so it won’t be so visible to passersby.  This solution is, of course, green!

 Sources:

(1) http://www.loopnet.com/property/126703/176-Lincoln-Street/

(2) http://gis.cityofboston.gov/EGISWebViewer/Map.aspx?PropertyID=2201481000

(3) http://www.cityofboston.gov/assessing/search/default.asp?mode=reval&pid=2200969000

(4) http://allston02134.blogspot.com/2006/12/176-lincoln-street-no-longer-cabot.html

(5) http://maps.google.com