But the University’s largest gift bespeaks its greatest danger—how its student population and economic impact will affect already scarce affordable housing and drive up near-record rent prices.

“Allston-Brighton residents are extremely concerned with their rents going up and the affordability of existing rents,” says Tim McHale, a homeowner who sits on the CDC board.

Two weeks ago the Allston Task Force, charged by Mayor Menino with overseeing the development of Harvard’s 271 acres, held a community meeting specifically to address the housing issue.

McHale attended that meeting and says that along with concerns over rents, come worries about the survival of affordable housing for Allston’s lower income and elderly populations.

“We have food, we have clothes, but we don’t have enough shelter,” he says. “I don’t think there’s a greater issue here.”

Berta Hernandez, who has rented an apartment on Western Ave. for two decades, says housing prospects are bleak in light of Harvard’s expansion.

“I don’t know what I’m going to do,” she says. “I’m worried. The rent is getting really high, and it’s very hard to find an apartment in this neighborhood, an affordable place.”

While continued affordable housing development is at the center of Boston’s current $2 billion citywide housing plan, it remains to be seen how Harvard’s development in North Allston will affect the location of current low-income residents in the area.

Lead among the uncertainties is the future of the Charlesview Apartments, an affordable housing project just past Harvard Stadium, which houses 210 families and 23 elderly or handicapped residents. Harvard doesn’t own the land, but its holdings nearly surround Charlesview.

When the issue came up at the recent community meeting, Harvard’s Band said the University is making “no commitments one way or another” on the future of Charlesview.

But Josephine Fiorentino, chair of the apartment complex’s board, cast doubts over the buildings’ future in their current location.

“Harvard has not forced any decisions upon us, but we are exploring all options,” she says. Charlesview “will always be non-profit housing, but it may not be there always.”

Charlesview resident Sorange De Lorenzo says that, while she and other tenants are concerned about Harvard’s possible interest in the property, residents feel powerless to protest.

“Right now, it would be really hard for me since I’m involved in school and working, and many of the other residents are elderly people, so it’s hard for them too,” she says. “It seems like it comes down to whoever has more money is who people are going to hear.”

Representative Honan says his constituents—both landowners and tenants—are responsible for participating in the monthly planning meetings with Harvard and Allston officials.