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This is that classic "you can't grow old forests" problem. If someone needed a car to get to work, you would never think of providing them with a brand new one
by legitster 5y ago
This is that classic "you can't grow old forests" problem.
If someone needed a car to get to work, you would never think of providing them with a brand new one. But we are kind of in that situation with housing.
I think the city could have saved a bunch of money here sourcing existing housing, then putting the savings into funding general new construction. But a $100 million kickback to a developer to add 1500 units is somehow less politically popular than $1 billion dollars for 1200 units.
- cool_dude85 5y ago>But a $100 million kickback to a developer to add 1500 units is somehow less politically popular than $1 billion dollars for 1200 units. Even assuming this is true, there are plenty of reasons this might be a good deal. One is greater control over construction, alignment of incentives (i.e., the developer incentive is to put up the worst pieces of junk they can get away with), long-term ownership if this is to be a long-term program, etc.