Quote:
Originally Posted by cab
Developers are saying proposed affordable housing mandate isn't feasible.
Two developers say they've been stopped cold by inclusionary housing proposal headed toward city council
Some developers have already stopped buying property within city limits because of a mandatory affordable housing proposal headed toward the Portland City Council.
http://pamplinmedia.com/but/239-news/330...affordable-housing-mandate-isnt-feasible |
If this weeds out the developers that are just wanting to build high end apartments in Portland, then I say that is a good thing. If a developer wants to make money, they should be required to include affordable housing. The city also needs to change the rules to make it easier for developers to do 3-4 unit developments, which is a much better way to increase density to a neighborhood without having to build large buildings that take away the character of neighborhoods.
Personally I have been hoping that all this over building of high end apartments leads to a capsizing that causes a number of developers to lose a lot of money over their greed.
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