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Revised $1-billion Harvard science center in Allston gets BRA approval

Harvard science center proposal

The long stalled Harvard Science and Engineering Complex started in 2007, then stopped in 2009 when the economy did a number on the university's endowment.

The revised center along Western Avenue will feature offices for dozens of professors and hundreds of researchers and will have its own power plant.

Designed by the firm of Behnisch Architekten and located along Western Avenue, the SEC will comprise approximately 496,850 square feet, including the renovation and re-use of the existing 114 Western Avenue building and will be surrounded by approximately 70,000 square feet of green space. The project will house faculty, scientists, researchers, students, and staff from SEAS—including undergraduate concentrators and graduate students who are studying applied mathematics, applied physics, computational science and engineering, bioengineering, computer science, electrical engineering, environmental science and engineering, material science, and mechanical engineering.

The SEC has been designed to strengthen and complement the area's public realm by raising most of the secure laboratory space above a two-story glassy "pedestal" space that will infuse Western Avenue with transparency and activity. Within this glassy space will be an atrium extending the full height of the building and including two levels below grade, a first floor dining facility with extensive open seating available to building occupants and the public, retail space, and visible activity spaces to be used for classes and engineering student projects. The ground floor space will have multiple entrances generally open to the public during business hours and generous circulation space connecting the north and south sides of the building. On the south side of the building, the existing concrete foundation platform will be transformed into a large landscaped open space, accessible to all.

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Comments

So, with regard to Harvard's endowment as a result of the financial crisis. According to http://www.theguardian.com/business/2009/sep/11/harvard-yale-financial-c..., the value did drop by a whopping $11 billion, but that still left them with a pretty healthy $26 billion, which -- if I'm not mistaken -- is totally tax-free.

Imagine if Harvard had continued with the project, spending some of that $26 billion and pumping much needed dollars into the area economy at a time when we really could have used it. Instead of, you know, letting it gather dust in an account somewhere until the paper gains started accumulating again (up to $36 billion and change as of fiscal year 2014).

Isn't that the kind of civic engagement we expect of institutions of higher learning, in exchange for not taxing them?

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They couldn't write off the loss, so

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That's not how endowments work. People mistakenly think that endowments are just big pools of money with which you can do whatever you want. Every dollar of principal is legally obligated to the explicit goal of the donation (a library, a research grant, a cafeteria, etc). People generally don't give large donations without a specific goal, otherwise you don't get something named after yourself (i.e. why the Holyoke Center is now called the Smith Center).

Usually, the only thing that can _legally_ be spent on non-pre-determined things is interest or ROI. And when you lose that much money all at once, you are then underwater with regards to the total principal of your donators, and are then legally obligated to halt and re-assess until you get _their_ money back for their original intent. This isn't specific to Harvard--this is how all endowments work. On top of this, schools typically depend on the interest/ROI for part of their year-to-year operational costs (i.e., paying staff salaries, benefits like health care, building maintenance, IT resources, etc).

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If I remember from some fundraising classes, another factor is the amount of income an endowment can spend is limited by law as a percentage of the overall value of the endowment. When the value went down, Harvard was limited in what it would spend.

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This building looks like it's going to be a real eyesore in the area. Also, is it really necessary to have a research building right smack in the middle of a residential neighborhood?

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THE SKY IS FALLING!

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Do you remember what was there before? If you don't I'll throw a little reminder in for you.

Now, do you still want to stand up and say that a few corrugated warehouses with tractor-trailers roaming about between there and the train yard on the other side of Cambridge Street are a better amenity for the neighborhood than the proposed research center?

The folks that own homes in that area may actually do very well in the not too distant future. Depending on what happens when they straighten the Pike that area has a lot of potential to become a new and desirable neighborhood.

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What's all this about straighten the pike? is that a real thing, or just some notion?

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Of course it needs a dash of "I'll believe it when I see it" thrown in.

It's old news if you've been following along. On the other hand that real estate is probably far too valuable to let it sit fallow for much longer.

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instead of a huge research center? That, imho, would've been the better way to go, especially since Harvard already has enough research centers, as it is.

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Earth to mplo. Why would Harvard just start building affordable housing instead of research facilities that they clearly do need?

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