From Harvard's Allston Development Group:
Charlesview Inc., the non-profit owner of Charlesview Apartments in Allston, and Harvard University have signed a purchase and sale agreement for the Charlesview property at the intersection of North Harvard Street and Western Avenue. When this transaction is completed, it will enable Charlesview Inc. to construct a new apartment complex for its residents on property currently owned by Harvard located a half-mile from the current complex and allow Harvard to use the existing Charlesview site as part of the new campus.
The signing of the purchase and sale is an important step in the overall process required to finalize this transaction. While there are additional steps to follow, such as Charlesview filing their development proposal for the new apartment complex with the Boston Redevelopment Authority (BRA), this is another important step for Charlesview, Harvard and the City of Boston. Finalization of the agreement would enable Charlesview Inc. to build a new apartment complex that would maintain the existing 213 affordable units on one site and accommodate a new mixed-income program for working families in Allston -Brighton. We are pleased that this land exchange agreement would enable the Charlesview Apartments to remain an essential affordable housing resource for the Allston-Brighton community for generations to come.
The new Charlesview site incorporates a portion of the Brighton Mills Shopping Center, as well as a parcel on the north side of Western Avenue, with frontage on Soldiers Field Road and the Charles River adjacent to the Telford Street pedestrian bridge. The current Charlesview land at North Harvard Street and Western Avenue (known as Barry’s Corner) would become part of Harvard’s future campus in Allston. As you know, Harvard is currently considering possible academic uses of this site as part of its master planning process.