Quote:
Originally Posted by Lobotomizer
This turn of events stems from this decision made a couple of years ago. I believe had the city not, dare I say gotten greedy, this project would have already been far along in the construction phase with many affordable units soon to be delivered.
Instead we will have a giant empty plot of land for the forseeable future. Not a good decision by those council members.
|
Nah.
The developer's original proposal included 25% of the units as affordable housing, which came down to about 230 units. After their bid was selected by the city, they tried to do a bait-and-switch by citing changing market conditions and tried to negotiate that number down to 70, which is a substantial drop. The city made the correct decision by refusing to cave.