Quote:
Originally Posted by Stockerzzz
I'm no expert, but I thought subsidized housing was supposed to be sprinkled in lightly throughout a neighborhood instead of creating 100% subsidized buildings?
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Not sure what you mean by subsidized. From the article it sounds like a tax credit project, so renters will still pay 30% of their income, it's just that rents have to be restricted to be affordable to people making a certain percentage of the area median income. 100 units at this site surrounded by a lot of high income and middle income seems fine to me. The problem is the cost of course, if that is what you mean by subsidy. A piece of land worth $4.5million given away? And $8million in TIF? And the article alludes to other public grants being needed.
Also Bickerdike has a pretty bad reputation in terms of property management. There are much better affordable housing developers out there. Figures Ramirez Rosa is working with them.