"Both kinds [of construction] are a contribution," he says. "There's clearly a need to step up the program of affordable housing."
Grogan, who has a background working with non-profit community organizations, says Harvard's $20 million loan program will "lubricate" the creation of affordable housing in Cambridge and Boston.
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Van Hoffman agrees, but it cautions against expecting too much.
"While I applaud what Harvard's doing, I also think we should understand that it's a very large problem that won't be turned around easily," he says.
"It is a final paradox, as long as Boston and Cambridge are desirable places to live, they will continue to be in demand."