Councilor Decker Works To Secure Affordable Housing At Craigie Arms

CAMBRIDGE – Cambridge City Councilor Marjorie Decker has been working with the residents of Craigie/Chapman Arms regarding the pending sale of the building in which they now call home.

The building is currently owned by a limited partnership which is controlled by the estate of the developer who purchased the building from Harvard University in 1985. Under terms of the settlement of legal proceedings between the developer, Harvard University and the City in 1985, 25 of the 50 units must be rented to low-income residents for 30 years. Harvard University sold the Craigie Arms building to the developer under a 55-year ground lease, retaining ownership of the underlying land, and will again assume ownership of the building at the expiration of the current ground lease in 2040.

Under the requirements of M.G.L. Chapter 40T, the owner of Craigie Arms was required to notify the city, the state and tenants of its intention to offer the building for sale subject to expiring affordability restrictions. Homeowner’s Rehab, Inc. has been designated by the state under provisions of Chapter 40T to make efforts on its behalf to purchase the building so that the affordability of these units may be preserved. The Affordable Housing Trust has committed funds necessary to fully assess the feasibility of preserving these units through a purchase by Homeowner’s Rehab, Inc.

In order to finance the purchase of the building with state and federal affordable housing funds, Homeowner’s Rehab, Inc. will need Harvard University to agree to extend the term of its ground lease.The City Manager has requested that Harvard University extend the term of its ground lease for Homeowner’s Rehab, Inc. to assist in its purchase of the building. Harvard University has been presented the opportunity to work with the city and the state designee to explore partnerships in the sale of the building that will preserve the affordability of these units; and

Current tenants living in the building would like to know whether their homes are secure for more than the remaining 5 years required by the 1985 settlement. The developer and original controlling owner worked very closely with the City, strongly supported the affordable units in this building, and was a leader in the field of affordable housing. In the current economic climate, with more families needing affordable housing while resources for housing are being cut, preservation of existing affordable housing is of critical importance.

Craigie Arms is an important affordable resource in an area where there are few housing choices for low-income. It is important to secure the affordability of at least these 25 units of affordable housing for the long-term.

Councilor Decker, along with the Cambridge City Council, is asking Harvard University to renew its commitment to preserving affordable housing in Cambridge and to work closely and cooperatively with the City Manager, the Affordable Housing Trust, Homeowner’s Rehab, Inc., tenants and others to facilitate the sale of the property to Homeowner’s Rehab, Inc to ensure the continued affordability at Craigie Arms for current and future tenants. Harvard University is being asked to amend the term of its ground lease to assist in these preservation efforts.

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