Hong Kong billionaire Gerald Chan has spent more than $120 million recently to buy coveted real estate properties in and around Harvard Square, including the Hotel Veritas (seen above) and the building that used to house Upstairs on the Square.
Banker & Tradesman first reported Chan’s real-estate moves earlier this year.
OK, so maybe Chan’s been a little heavy-handed with some retail tenants of late. But, hey, it’s his right to buy and the purchases clearly show he believes in the area and is even setting down family roots in Cambridge, bringing in family members to run restaurants. He now has a family stake in the viability of Harvard Square — and that’s a good thing.
Photo via Hotel Veritas.