Yes, they used straw buyers (Beal, IIRC) early-on. And yes they own a lot more land than the old freight terminals and the Beacon yards. But Beacon yards / the Pike land was bought in a bidding contest, BU losing out.
I have always thought the locals had unrealistic expectations about retail/commercial development at both Barry's Corner and along Western Ave west of North Harvard St.
With Arsenal Mall just a bridge away, what sort of significant retail was ever going to come and survive on Western Ave.? A Family Dollar store?
Many in Allston don't want undergraduates near/in Barry's Corner. The new basketball pavillion is too close. And certainly no bars, taverns, or other 'attractive nuisances' that would draw undergraduates. Some objected to Stone Hearth pizza getting a license to serve wine/beer. In short, whatever development occurs in Barry's Corner should be antiseptic, --no BU/Harvard/BC students need come near. It will be as lively as the center of South Hadley.
By "many in Allston" do you mean Paul Berkely and the Allston Civic association? Hah.
I also agree that there are a lot of unrealistic expectations. Yes it has been 10 years, but look at the pace of other projects throughout Boston. How quickly should the purchasing of the land, the planning, the design, working with the city, etc. have happened? What's realistic?
I live in Lower Allston. I know many old-schoolers who talk about Harvard as if it's the enemy but they were certainly excited when the underwhelming two-family duplex next door to me was sold 4 hours after it was put on the market (for a ridiculous asking price).