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"Non-profit" just encourages padding expenses along the way. City of LA had access to government-owned land, fairly large pool of labor and probably some bulk
by lxm 4y ago
"Non-profit" just encourages padding expenses along the way.
City of LA had access to government-owned land, fairly large pool of labor and probably some bulk discounts on building materials. Yet after you add consultants, construction unions and other well-connected entities jumping onto the gravy train, average unit ended up above $600k, way above an average "for-profit" luxury condo in LA
https://www.bloomberg.com/news/articles/2022-02-23/la-paying-600-000-apiece-for-units-to-house-homeless-people?leadSource=uverify%20wall https://www.bloomberg.com/news/articles/2022-02-23/la-paying...
- ehvatum 4y agoHaving worked with the St. Louis housing authority in the past, I bid work for urban development authorities at a 10x multiplier, and I am elated to tell my investors that we tried, and our bids were rejected. You cannot possibly imagine the pain and frustration of building for inner-city urban development government organizations. They exist to perpetuate the problems that perpetuate their existence. The worse things get, the more funding they get.