[1443] in peace2
help gauge the MIT impact on housing market
daemon@ATHENA.MIT.EDU (Aimee L Smith)
Tue Feb 12 11:35:37 2002
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Date: Tue, 12 Feb 2002 11:35:29 -0500
From: Aimee L Smith <alsmith@MIT.EDU>
Below is something I sent out earlier to some folks. Does anyone
know information about what MIT owns? What has been acquired
and why? One person brought up that MIT recently purchased
the Draper Lab buildings. Any info on Draper Labs status, etc,
details on the Draper-MIT relationship, and any other info about
what MIT owns and how it fits into MIT's Mission Statement would
be much appreciated.
http://www.ci.cambridge.ma.us/~CDD/data/index.html
see education heading for 1997-2001 data on MIT Cambridge property
holdings.
From 1997-2001 MIT goes from owning 1.1 million sq feet
of taxable commercial property to 3.1 million with almost
no change in tax exempt facilities (9.2 million in '98 to 9.3 million
in 2001.) (All with much less than a three-fold increase in taxes and
payments in leu of taxes.)
Over this time, taxable housing units go from 173 to 713 (which help
me out here if you are in DUSP) seems minor compared to the 2 million
square feet increase in commercial space.
My hypothesis:
MIT likes to develop lab and office and business space and make a nice
deal on the rent. Meanwhile, they are much less interested in providing
housing, serving to keep housing costs and thereby real-estate costs high
(a.k.a. gentrification) so that they can make a nice deal on the (mostly
commercial) rent.
Question:
MIT.edu or MIT.com??
Undergrads in dorms and affiliated housing in '97 is 3239 and in 2001 is 3201.
(Vast majority is dorms.)
grads in dorms and affiliated housing in '97 is 1660 and in 2001 is 1816.
(also mostly in dorms.)
Again, not much growth here compared to the commercial development...
Anyhow, for whatever it is worth, this is essentially supporting the
argument that MIT passed up many oportunities to acquire and/or build
graduate and undergraduate housing over the past 5 years.
Regards,
Aimee
And I am adding on here, not that this is bad for grad students, but
more importantly in my mind is that housing more students on campus
will reduce pressure on the housing market and that will be good for
all the low income families who have the nerve to think they have the
right to call Cambridge their home.
