Housing Initiatives

Harvard is committed to working with its host communities to address the region's high cost of housing. In addition to housing 98 percent of its undergraduates for four years, which relieves pressure on the local housing market, Harvard works with the cities of Cambridge and Boston to create and preserve thousands of affordable housing units as well as to support efforts to eliminate homelessness.

Housing Impact

Impact across Cambridge & Boston

Through nearly 200 unique projects, Harvard helped finance more than 7,000 units of affordable housing in 30 neighborhoods across Boston and Cambridge.

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Historic Program, Local partnerships

Harvard started a first-of-its-kind program that committed $20 million over 20 years for affordable, low-interest, revolving loans. The program partners with three local nonprofit lenders: Cambridge Affordable Housing Trust, Boston Community Capital, and Local Initiatives Support Corporation.

 

Allston Brighton Sign

All Bright Homeownership

The All Bright Homeownership Program will access $3 million in Harvard funds, allowing the program to purchase and resell homes with voluntary deed restrictions that assure all units sold remain occupied by their owners.

 

Affordable homeownership in a green building

Located at the edge of Kendall Square, the Print Shop is a former industrial site transformed into affordable and sustainable housing units. With a green roof, solar panels, and a high-efficiency building envelope, the Print Shop is LEED Gold certified. Harvard funds were used to provide construction financing, reducing loan costs and enabling the project to more effectively leverage other funding sources. The project created 24 affordable homes to enable families to live in the heart of Cambridge, with access to transportation, jobs, and all that the city has to offer.

Adaptive reuse of a historic property into affordable housing

424–430 Windsor Street was transformed from a rectory and church into 14 affordable condominiums for low-, moderate-, and middle-income households. The reuse of the buildings retained many historic details while creating spacious and modern units. Harvard funds were used to lower construction financing costs, decreasing total project costs, and enabling the City of Cambridge to reduce the public subsidy required. The 14 units will remain affordable upon resale and will continue to provide opportunities for first-time homebuyers.