Quote:
Originally Posted by LosAngelesBeauty
But I also agree that affordable housing should be built in the city center, but I don't understand how will expensive land acquisition costs allow greedy developers to gain enough profit margin to vehemently pursue affordable housing (esp. with all the headache from red tape).
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Agreed, that will never happen. The affordable/low income housing will have to come primarily from converted older SLO hotels and other existing properties. Also, many new developments are required to provide 20% of affordable housing units, like the Grand Avenue project.