November 19, 1999

Harvard U. Plans to Spend $20-Million to Encourage Low-Cost Housing

Harvard University plans to spend $20-million to help bring more low-cost housing to Boston and Cambridge.

Working through intermediary lenders, Harvard will make 20-year loans at 2-per-cent interest to non-profit groups that build affordable housing. In addition, grants totaling $1-million will go to organizations that demonstrate innovative solutions to the area's affordable-housing shortage, one of the most severe in the country.

The university also