Your advice to Harvard points out the wrong strategy (Allston shouldn't suffer on Harvard's account, Boston Globe, October 28, 2009: A14).
What Harvard should do is go full steam ahead on the Science Campus Development even if it means dipping into the endowment. This is exactly the time to do so.
Money can be borrowed at reasonable rates and Harvard has impeccable collateral. It can buy more construction for the dollar in a recession. Stopping and restarting projects are more expensive than continuing on.
Finally, counter-cyclical spending of this magnitude will give a big boost to the city, region, and state economies.
Be a better citizen, Harvard.