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Author Topic: Hellenic College is selling a portion of their land  (Read 717 times) Average Rating: 0
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SolEX01
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« on: February 25, 2011, 01:38:29 AM »

From the Boston Globe:

source

Quote
A group of Jamaica Plain residents is reaching out to the Archbishop of Constantinople, the official head of the Eastern Orthodox Church based in Istanbul, in an effort to save a wooded hill overlooking Jamaica Pond from development.

The Community Caring Institute (CCI) has instigated a letter-writing campaign beseeching Ecumenical Patriarch Bartholomew, known for his environmentalism, to prevent Brookline-based Hellenic College from selling a 12.5-acre plot of deciduous woods on its campus to developers.

The college, which has listed the property for $18 million, is seeking to close a significant budget gap.
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« Reply #1 on: February 25, 2011, 02:16:28 AM »

More information needed on this.  What's the housing market like in the area.  (The GOAA has a record of selling property when the market prices are depressed, i.e. Archbishop Iakovos' residence, the "investment property" that was sold by the Executive Committee in the late '80's to the Archdiocesan Economic Development Director's private development firm.)  Is this the planned President's residence?  What did they pay for it at purchase?
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SolEX01
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« Reply #2 on: February 25, 2011, 03:16:07 AM »

More information needed on this.  What's the housing market like in the area.  (The GOAA has a record of selling property when the market prices are depressed, i.e. Archbishop Iakovos' residence, the "investment property" that was sold by the Executive Committee in the late '80's to the Archdiocesan Economic Development Director's private development firm.)  Is this the planned President's residence?  What did they pay for it at purchase?

The group is appealing to His All Holiness to intervene to prevent the sale on environmental principles (e.g. save the trees).

If I understand correctly (based on my recollection of maps of these entities), Hellenic College, Holy Cross Seminary and Metropolis of Boston headquarters are formerly on the Weld (as in the relatives of former MA Governor William Weld) estate that the Archdiocese acquired in the 1940's.
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« Reply #3 on: February 26, 2011, 01:54:52 AM »

More information needed on this.  What's the housing market like in the area.  (The GOAA has a record of selling property when the market prices are depressed, i.e. Archbishop Iakovos' residence, the "investment property" that was sold by the Executive Committee in the late '80's to the Archdiocesan Economic Development Director's private development firm.)  Is this the planned President's residence?  What did they pay for it at purchase?

The group is appealing to His All Holiness to intervene to prevent the sale on environmental principles (e.g. save the trees).

If I understand correctly (based on my recollection of maps of these entities), Hellenic College, Holy Cross Seminary and Metropolis of Boston headquarters are formerly on the Weld (as in the relatives of former MA Governor William Weld) estate that the Archdiocese acquired in the 1940's.

Correct but I know they got a few other acres recently, like about 10 years ago, if not more recently.  they bought a property with a house adjacent to the original Weld property. 
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« Reply #4 on: February 26, 2011, 02:59:08 AM »

More information needed on this.  What's the housing market like in the area.  (The GOAA has a record of selling property when the market prices are depressed, i.e. Archbishop Iakovos' residence, the "investment property" that was sold by the Executive Committee in the late '80's to the Archdiocesan Economic Development Director's private development firm.)  Is this the planned President's residence?  What did they pay for it at purchase?

The group is appealing to His All Holiness to intervene to prevent the sale on environmental principles (e.g. save the trees).

If I understand correctly (based on my recollection of maps of these entities), Hellenic College, Holy Cross Seminary and Metropolis of Boston headquarters are formerly on the Weld (as in the relatives of former MA Governor William Weld) estate that the Archdiocese acquired in the 1940's.

Correct but I know they got a few other acres recently, like about 10 years ago, if not more recently.  they bought a property with a house adjacent to the original Weld property. 

When the economy was booming and Hellenic College / Metropolis of Boston simultaneously embarked on ambitious expansion programs.

Now if Hellenic College sold the land as a perpetual conservation easement, that would be win-win for Hellenic College and the environment.   Wink
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« Reply #5 on: February 28, 2011, 02:55:04 PM »

More information needed on this.  What's the housing market like in the area.  (The GOAA has a record of selling property when the market prices are depressed, i.e. Archbishop Iakovos' residence, the "investment property" that was sold by the Executive Committee in the late '80's to the Archdiocesan Economic Development Director's private development firm.)  Is this the planned President's residence?  What did they pay for it at purchase?

The group is appealing to His All Holiness to intervene to prevent the sale on environmental principles (e.g. save the trees).

If I understand correctly (based on my recollection of maps of these entities), Hellenic College, Holy Cross Seminary and Metropolis of Boston headquarters are formerly on the Weld (as in the relatives of former MA Governor William Weld) estate that the Archdiocese acquired in the 1940's.

The same groups blocked the college from using the land for new dormitories and a student union 7 years ago.  The sale of land (which is a big no-no in academia - you're supposed to buy adjacent land, not sell it) likely is resignation that it would take a very costly legal battle in order to develop that land, and they thus do not want to deal with it.  It is "prime" real estate in the Jamaica Pond area - the houses would sell for quite the sum of money.
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« Reply #6 on: February 28, 2011, 02:57:10 PM »

More information needed on this.  What's the housing market like in the area.  (The GOAA has a record of selling property when the market prices are depressed, i.e. Archbishop Iakovos' residence, the "investment property" that was sold by the Executive Committee in the late '80's to the Archdiocesan Economic Development Director's private development firm.)  Is this the planned President's residence?  What did they pay for it at purchase?

The group is appealing to His All Holiness to intervene to prevent the sale on environmental principles (e.g. save the trees).

If I understand correctly (based on my recollection of maps of these entities), Hellenic College, Holy Cross Seminary and Metropolis of Boston headquarters are formerly on the Weld (as in the relatives of former MA Governor William Weld) estate that the Archdiocese acquired in the 1940's.

Correct but I know they got a few other acres recently, like about 10 years ago, if not more recently.  they bought a property with a house adjacent to the original Weld property.   

I think the Barletta property may be part of the sale.  They wouldn't be in this mess if the Archdiocese didn't constantly fall behind on its support of the School and then tell the School that they won't attempt to catch-up - "write it off" is a common answer.  The School depends on the Archdiocesan money for day-to-day operations; 1.2 million (which will be increasing to 1.8 million) is nothing to sneeze at.  The big shame is that the check for the School is at the bottom of the Archdiocesan priorities list.
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