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Post by matunuck on Jun 17, 2022 7:16:53 GMT -5
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Post by newfieguy74 on Jun 17, 2022 7:21:54 GMT -5
This a great idea. It's a very common practice and a good purchase for HC given the likelihood that all future presidents will be lay people.
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Post by Pakachoag Phreek on Jun 17, 2022 8:31:14 GMT -5
The house was previously the residence of the WPI provost. Given the sale price (less than half the assessed value), perhaps HC plans on an extensive renovation.
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Post by timholycross on Jun 17, 2022 8:33:50 GMT -5
Aren't these types of residences usually closer to campus than 3-4 miles? Perhaps the college could have accomplished the same thing with a knockdown on one of the side streets on the hill; to clarify, for 800K I have a feeling that home's going to need a lot of renovations and end up costing quite a bit more.
In any case, Vince is going to cash in on his house in Weston whenever he feels the urge to do so.
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Post by KY Crusader 75 on Jun 17, 2022 8:36:43 GMT -5
Sounds like HC struck a great bargain on the house
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Post by rf1 on Jun 17, 2022 8:40:24 GMT -5
It fronts Regent Ave with yard extending down to Park Ave. It is across Drury Lane from the larger Jeppson House which is the home of the WPI President. WPI is just across from it on the other side of Park Ave. Hughes House was supposedly valued at $2M but Holy Cross got it for only $800k. I don't really understand why WPI would not get top dollar. Rougeau won't have a long walk to the ATO frat parties as their house is just a few over closer to Salisbury.
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Post by KY Crusader 75 on Jun 17, 2022 9:07:53 GMT -5
Perhaps this is a temporary residence for our president until we can build a bigger, better crib nearer campus.
The thought of the WPI prez living across the street in a bigger residence is disconcerting
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Post by HCFC45 on Jun 17, 2022 9:10:03 GMT -5
Perhaps this is a temporary residence for our president until we can build a bigger, better crib nearer campus. The thought of the WPI prez living across the street in a bigger residence is disconcerting Ky... "CHECK" your PM's
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Post by rf1 on Jun 17, 2022 9:36:18 GMT -5
Hughes House is located near the center in this Google Earth view
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Post by hc6774 on Jun 17, 2022 11:43:13 GMT -5
It fronts Regent Ave with yard extending down to Park Ave. It is across Drury Lane from the larger Jeppson House which is the home of the WPI President. WPI is just across from it on the other side of Park Ave. Hughes House was supposedly valued at $2M but Holy Cross got it for only $800k. I don't really understand why WPI would not get top dollar. Rougeau won't have a long walk to the ATO frat parties as their house is just a few over closer to Salisbury. some kind of PILOT deal?
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Post by Pakachoag Phreek on Jun 17, 2022 12:16:58 GMT -5
Aren't these types of residences usually closer to campus than 3-4 miles? Perhaps the college could have accomplished the same thing with a knockdown on one of the side streets on the hill; to clarify, for 800K I have a feeling that home's going to need a lot of renovations and end up costing quite a bit more. In any case, Vince is going to cash in on his house in Weston whenever he feels the urge to do so. Yes. But HC is rapidly becoming land poor on College Hill. @ $500 sq ft construction cost, x 4,500 sq ft = $2.25 million without any land acquisition cost. Perhaps when HC acquires the several remaining properties it does not own on the west side of College St., it will build a new house there, and sell this house back to WPI.
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Post by KY Crusader 75 on Jun 17, 2022 13:46:34 GMT -5
$500 per square foot construction cost seems extremely high
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Post by longsuffering on Jun 17, 2022 13:58:22 GMT -5
"Hughes House" Perhaps the crib is for Kit. Clark University had a Presidents home abutting Becker College (did Becker ever become a university before it failed? - the Peter Principle in practice) which is a lovely mansion.
I think I am remembering correctly that they sold it to Becker who used it as day care/early education teaching space. Clark then restored and expanded an old house that abutted their own campus and did a beautiful job. I was at Clark for something and observed a cocktail party spilling out onto the lawn of the President's house with well dressed people filtering between the house and an event on campus. The synergy of having the house on campus for entertaining was evident.
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Post by Pakachoag Phreek on Jun 17, 2022 14:03:27 GMT -5
$500 per square foot construction cost seems extremely high The college has a policy to use union labor. Joyce cost $22 million for 34,000 sq ft. $650 a square foot.
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Post by longsuffering on Jun 17, 2022 14:11:39 GMT -5
$500 per square foot construction cost seems extremely high The college has a policy to use union labor. Joyce cost $22 million for 34,000 sq ft. $650 a square foot. And seemingly a policy to hire first time head coaches to save money. All HC new buildings are beautiful I will say that. I wonder if the buildings built by Perini Corp. in the last century used union labor? I recall Father Leo Sullivan, the former business manager being credited with getting a good price for Holy Cross when it's coffers weren't so full.
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Post by KY Crusader 75 on Jun 17, 2022 15:01:58 GMT -5
$500 per square foot construction cost seems extremely high The college has a policy to use union labor. Joyce cost $22 million for 34,000 sq ft. $650 a square foot. I was thinking that homes cost less to build than commercial space. When I look at estimated values for my residence the construction cost would have to be under $150 per sq foot. I do understand that costs vary by market
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Post by Pakachoag Phreek on Jun 17, 2022 16:04:49 GMT -5
The college has a policy to use union labor. Joyce cost $22 million for 34,000 sq ft. $650 a square foot. I was thinking that homes cost less to build than commercial space. When I look at estimated values for my residence the construction cost would have to be under $150 per sq foot. I do understand that costs vary by market I think HC's approach to a new President's house would be that is an edifice that would be occupied for 100+ years. www.sleepingdogproperties.com/perspectives/the-cost-of-a-custom-home-in-the-city-of-boston-vs-the-suburbs/
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Post by longsuffering on Jun 17, 2022 19:52:10 GMT -5
Can the higher education bubble last 100 years?
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Post by sader1970 on Jun 17, 2022 20:41:01 GMT -5
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Post by alum on Jun 18, 2022 5:28:34 GMT -5
The college has a policy to use union labor. Joyce cost $22 million for 34,000 sq ft. $650 a square foot. I was thinking that homes cost less to build than commercial space. When I look at estimated values for my residence the construction cost would have to be under $150 per sq foot. I do understand that costs vary by market I would think that such a house would have the highest of the high end cabinetry, kitchen stuff, built ins, hardwood floors, bathrooms, etc. It would be the kind of house which would appear in design magazines.
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Post by Pakachoag Phreek on Jun 18, 2022 6:02:13 GMT -5
Amherst's President's House was built nine years before Holy Cross was established by Fenwick. 14,000 square feet. Still in use. First floor is used for official functions. There was talk if Rougeau wanted to host a dinner for Fauci on Friday evening, where would he host it? The thought was the Jesuit residence. www.amherst.edu/news/news_releases/2011/07/node/329638I guess the college took a pass on renovating and expanding this house on College St to serve as a President's house. goo.gl/maps/hNpvTJx8Ssm8Mfgs5
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