A Harvard-sponsored report released in September found that the University pumps $2 billion in direct funds into the local economy, a point often overlooked by the metropolitan community, according to Grogan.
"I don't think that it's in Harvard's interest to have a poor reputation in community development," he said.
Local activists said the housing initiative will improve Harvard's standing in Cambridge.
"It shows that Harvard knows about the issues and is willing to take active steps to resolve them," Lim said.
City Councillor and Vice Mayor Anthony D. Gallucio said the plan is an important in improving town-gown relations.
"I've been critical of Harvard's contribution but at the same time I am cognizant of the resource they've been for the city," he said. "I hope this signals a new day for Cambridge-Harvard partnerships."
A High Priority
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