The region’s total office vacancy rate dropped to 22.5%, with Class A office space in the city seeing an even sharper decrease, down to 19.8%. Leasing activity also saw a strong uptick, with a 39.8% increase in leasing velocity compared to the same period last year, indicating sustained demand for office space.
If Harvard were to lose its tax-exempt status then Boston would benefit property tax wise.
“While many think of Harvard Yard in Cambridge, Massachusetts as Harvard’s campus, the University also has robust campuses in the Longwood and Allston neighborhoods of Boston, Massachusetts.”
Boston has a voluntary program for those tax-exempters called PILOT (payment in lieu of taxes) which is significant lower than tax payments would be.
However, it seems Harvard hasn’t been a good local citizen.