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> As others have said, maybe buy up and renovate/rent out homes near by driving up property costs (and taxes), or 'encouraging' college alums down the road to g
by jhall1468 8y ago
> As others have said, maybe buy up and renovate/rent out homes near by driving up property costs (and taxes), or 'encouraging' college alums down the road to give back from their success.
Thus defeating the entire purpose of this school. Gentrifying will result in the school being surrounded by housing that the students parents can't afford.
- gremlinsinc 8y agoThat's why I said buy up, fix up, and rent out (at the same rent as before, but beautifying the neighborhood more) thus raising property value.
- whatshisface 8y agoIf the property value goes up the rent will go up, because nobody will be willing to invest in capital construction or home management unless they can make their money back.
- gremlinsinc 8y agoWhy not create community 'owned' housing, similar to a worker co-op, where poorer communities collectively 'own' the location. Everyone pays area-rental fees, but each month rented = 1 share ownership. Once the mortgage is paid off, the rent goes towards buying more rental properties and rinsing/repeating. A % of all rents is divided out by shares to each renter or ex-renter. A % could also go to LeBron's public school as a donation. Obviously the longer you stay at a place and the smaller the place the more shares you'd have in the place. Shares could also = voting rights on properties/etc... More votes = louder voice. Think of it as privatized (not government-ran) socialism in the real estate market.
- whatshisface 8y agoIf the property values go up, other people will buy the houses surrounding the collective, forcing the collective to pay more for housing and thereby raising the rents.