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No, I think the problem must be corruption, either legalized where a variety of non profits add administrative overhead, or downright illegal. For example about
by jdavis703 9y ago
No, I think the problem must be corruption, either legalized where a variety of non profits add administrative overhead, or downright illegal. For example about a mile from the first project mentioned in this article are luxury town homes for sale, that come with features such as granite counter tops, garages and solar panels. The developer is selling these luxury homes for about the same price as the affordable housing costs. I imagine the developer is also making some kind of profit. If the price was just land, you’d expect that a luxury unit would cost more than affordable unit, not the same.
- ewjordan 9y agoNot following you. Sounds to me like if land, not construction, is the dominant factor in cost, luxury and affordable units should cost about the same amount. Unless the affordable units were higher density.
- jdavis703 9y agoSorry poor choice of words on my part. I'd expect a luxury unit to sell for more than the affordable unit costs to build. Instead what I see is a luxury unit selling for around just the construction and land costs of an affordable unit.
- closeparen 9y agoInterior finishings are what permit a developer’s marketing team to use the word “luxury,” not an interestingly sized component of construction costs or market value.