3 ms·
Not “subsidized”...affordable. A landlord has 3 older units that rent for $x. She wishes to redevelop the property to create 6 new units that rent for $3x. Net
by irq11 9y ago
Not “subsidized”...affordable.
A landlord has 3 older units that rent for $x. She wishes to redevelop the property to create 6 new units that rent for $3x. Net result is that 3 units have been created, but 3 people have been displaced. Likely permanently.
This is the heart of the redevelopment debate in SF.
- Kalium 9y agoSubsidized is an accurate description of the financial arrangement surrounding the unit in a way that "affordable" is not. Why not use it? I know, I know. Politics, right?
- averagewall 9y ago$x is a rent controlled price? By rebuilding, she loses the requirement to keep the rent low? You're right, that's not a subsidy since it's the landlord that pays for it.
- Mz 9y agoIn most cases, when you improve a property, you then charge more because it is improved. It isn't unreasonable on an individual basis, but the end result is that affordable units disappear and do not get replaced. Rinse and repeat and pretty soon there simply aren't any affordable units.
- empath75 9y agoYeah but people are moving out of less desirable and housing to move there, opening up new housing down market.