5 ms·
> new projects with 20 percent affordable housing for tenants making no more than 80 percent of the area median income or projects with 10 percent affordable ho
by 1_2__3 10y ago
> new projects with 20 percent affordable housing for tenants making no more than 80 percent of the area median income or projects with 10 percent affordable housing near transit would be exempt from most local reviews.
That sounds great, but think of it this way: a 200-unit luxury apartment complex that includes a shithole in the back with 40 units that lack parking and a separate access door would be exempt from local oversight. Does that sound like a pattern for success to you?
- ktRolster 10y agoIf you have a better idea, I'm really interested in hearing it.
- deleted 10y ago[deleted]
- hx87 10y agoStill better than no development at all.
- warcher 10y agoMore stock is more stock. The guys moving into the rich condos live somewhere now, presumably somewhere worse, since they want to move. It's demonstrably effective in freeing up lower income apartments. Perhaps these lower income apartments are still going to be expensive, and available only to whatever you define as the "wrong kind of people", but you gotta start someplace.
- st3v3r 10y agoNo, it really isn't. That's basically the equivalent of trickle-down economics, which has been shown to be a failure.
- muzz 10y agoThere was an article that something like 45% of new units are bought by foreigners and people from other metros.
- warcher 10y agoSure, but that presupposes that they aren't buying units already. I don't think that's likely.