Quote:
Originally Posted by glowrock
While I'm not necessarily doubting that overall apartment construction is down in those specific areas, LVDW, the article itself reads as an extremely self-serving piece by a realty group(s) that specifically put this out to get the incoming mayor to listen, and hopefully acquiesce, to their demands. Besides, the article talks about not enough luxury apartments being built, which doesn't exactly seem to be the true problem.
Everything involving affordable housing is a complicated situation, and I don't doubt that the realty/development groups are speaking some kernels of truth. But I don't really blame the city for requiring either affordable units, either.
Aaron (Glowrock)
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^ No doubt that any piece put out by an industry rag will be slightly self-serving in nature, but at the end of the day we return to the basic question:
When did we ever create affordable housing by limiting new supply?
Look back in human history, lets say 8000 years.
Answer: NEVER
So if the socialist crowd comes up with an ARO formula that kills off large numbers of new projects
in the name of creating affordable housing, they are effectively going too far and should be called out for it....
loudly, by the industry that is most affected by their actions.
That article LVDW posted makes the case that, mathematically, 30% ARO is simply too much. It is killing off several new projects, and in the end we will not be adding new supply of affordable units to a community that needs it. So the policy needs changing, period. Whether Racist-Ramirez Rosa listens is a different story...