The conversion of formerly rent controlled properties in its portfolio to market rate housing for Harvard affiliates represented a significant asset management opportunity. Effective planning required a sensitivity to Harvard's unique character and circumstances, including sensitive and complex relationships - internally, and with the city and other stakeholders. A number of properties are tied to the University fire protection system and centrally-supplied heating steam and chilled water from the Facilities Management Office.
Many properties feature antique architectural details requiring special attention.
Evaluating all properties to a single standard provided HPRE with useful baseline data on the portfolio. An outcome of the process was a resolution by HPRE to move toward a more standardized approach to certain capital activities. A unique aspect of the undertaking was OSI's collaboration with MGIA Architects, of Boston, to address handicap access issues in the context of our capital needs determinations. While ON-SITE itself does considerable work in the accessibility field, the size of the portfolio, and MGIA's previous work with Harvard on its master plan for accessibility, made this joint venture compelling. MGIA's access findings and cost estimates were incorporated into a quantitative presentation specially customized by OSI for this purpose.