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When community activist groups combined with grand standing politicians can intimidate builders into giving up a fourth if not more of their units at below cost
by Shivetya 8y ago
When community activist groups combined with grand standing politicians can intimidate builders into giving up a fourth if not more of their units at below costs and best yet turned over to "management groups" appointed by the activist groups who are but extensions of the politicians election machine what do you expect?
You can find stories similar to such all over the place. San Francisco recently had a 117 unit fall apart after all the conditions and accommodations of all "aggrieved" parties got their share and drove the costs beyond profitability.
of course you get the typical political bs from the politicians and activist who always claim "if developers are willing to work with us they can get approved quickly" but that is the rub, the approval usually requires far too much outlay on the builder which in combination of set asides for "affordable" units then forces the rest of the units up a tier or two eliminating the market the developer was aiming for.
this isn't about affordable anything, its about political power and money. many of these "activist" groups which claim to represent the people and use that as a basis to go to court to block builders are in fact merely extensions of various political election campaigns.