Quote:
Originally Posted by gardensoul
Foundation Communities is an amazing non-profit! One of the coolest things they do is provide after-school mentoring and classes for the children living at their sites. At the M Station (by the MLK rail stop) they have boosted the average GPA of their kids to over 3.5!
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Don't get me wrong...that is great. I'm glad they help increase GPA's.
However, in the real world of business, this project has already lowered the values of every property within a few blocks of the proposed site. If the purchase deal closes, they are buying the site for several hundred thousand less than tax appraised value. Furthermore, should the proposed low-income housing project be built on the site, it will further devalue the surrounding properties!!!
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AUSTIN (City): 1,002,632 +4.64% - '20-'25 | AUSTIN MSA (5 counties): 2,620,945 +14.78% - '20-'25
SAN ANTONIO (City): 1,548,422 +8.03% - '20-'25 | SAN ANTONIO MSA (8 counties): 2,813,140 +9.97% - '20-'25
AUS-SAT REGION (MSAs/13 counties): 5,434,085 +12.24% - '20-'25 | *SRC: US Census*
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