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Originally Posted by BrianTH
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Honestly the Housing Authority spending money to ensure that Crawford Square remains mixed income seems like a terrible idea to me.
Don't get me wrong, I'm sure that the $6 million allocated for the transaction wouldn't be anywhere near enough to build 188 new low-income apartments, as that's around $32,000 per unit. So any other transaction would have resulted in less dedicated low-income units.
That said, if the Housing Authority had let Crawford Square go market rate, those 188 new units, plus whatever units that $6 million could build, would result in more units overall, which in turn should result in the biggest drop in rent prices in the city.
Of course, if the Housing Authority is narrowly concerned with just low-income housing, this is a rational decision. However, if it is more broadly concerned about affordable housing for everyone, it is not.