Voices of the Community

Where was the best place to have invested these past 2 decades? Where else could a blue-collar worker purchase a 2 or 3 family home and now be a millionaire? Where else could a "Peoples Republic" co-exist with one of the top commercial areas in the USA? What community has a AAA Bond rating and $92,000,000 in reserve? What city has more out of state license plates and bicycles per square mile? What is the only city that elects major office holders by Proportional Representation? Where can you live without an automobile? Where else can you take the Harvard Bridge to get to MIT? Where else, but CAMBRIDGE! It's all here! As a native Cantabridgian (not too many left), and an avid traveler, I never refer to being from Boston, but from Cambridge - no matter where you go - people know Cambridge! Settled in 1634, this small 6 ¼ square mile metropolis is a fascinating place that has made the transition from agrarian to industrial to technology/bio tech - led by its famous learning institutions. Harvard, MIT, Lesley, Cambridge College, et al. As a student of tax exempt properties and the author of the "In-Lieu-Of Tax Payment Formula" in the early 70's (by which Harvard, MIT and other tax exempt institutions contribute to the city coffers), I can attest to the fact that the universities are a major contributor to the success of Cambridge. Diversity was practiced here before it was popular - where people of all faiths and backgrounds live and work together (education has something to do with it). It was the late speaker of the House, the honorable Thomas O'Neill, Jr. who coined the phrase "all politics is local". In Cambridge, everything is local! Do people agree all the time? - Of course not - but compromise effects solutions. Other communities look to Cambridge as a benchmark for so many issues. It is a self-contained community. You do not have to leave its boundaries - Its all here! - schools, medical facilities, public transportation, parks (70), recreation, restaurants (of all ethnicities), all types of housing (including affordable), diverse neighborhoods, hotels (20), the Charles River, history (George Washington on the Cambridge Common), state of the art municipal facilities, municipal golf course - famous residents (too many to mention), churches (of all denominations), banks (69 financial - 1 sperm), the arts, museums - you name it! There is a far greater demand than supply for housing and jobs for people that want to live and work here. Real estate purchased 20 years ago has increased exponentially. Homes/condo's range from $200,000 to $6 million and yet the city is affordable - the real estate tax on a $1 million home is approximately $6,000. Compare that to your community! All types of jobs are available - Kendall Sq./East Cambridge alone has 8 million s/f of commercial space with another several million being actively developed - even in the current "economic downturn". In these turbulent economic times, where would you rather be? Where else could you be to enjoy this unique combination of characteristics, benefits and opportunity? Cambridge appears to be recession proof. Safest place to be - Why go elsewhere? It is all here! Charles Laverty Jr. CAE is a partner with Laverty/Lohnes Properties