What the hot mess is this new building?
The old building doesn't look very deteriorated in the photos - certainly much less so than 17 Story Street further up in the thread! If that can be rehabbed, so can this.
Even if this building were in bad shape, there is no institution on earth with the same combination of money, facilities /construction management capabilities, and expertise in rehabbing 19th-century New England homes - in other words, if Harvard can't rehab a historic property in decent shape then who on earth can?!
As an organization that doesn't pay taxes because of the supposed civic benefits it confers - and as an organization that builds some of the worst modern architecture in the Northeast US - Harvard is making a mess of things here and should be ashamed of itself.