Quote:
Originally Posted by DMH
Regarding this proposal, once again a plethora of studio apartments is being planned. Is there not yet a glut of studio apartments on the market? I should think architects and developers would be planning for easy conversion of small apartments into larger units because there is a segment of the market that would welcome them. For instance, imagine adjacent one-bedroom units planned with small kitchens back to back. As demand calls for it, the dividing wall would be knocked out and a larger kitchen and living area created with two bedrooms and two bathrooms at opposite sides of the larger apartment. Couples who want a guest bedroom & bath, pairs of roommates, single parents with a child, or persons with an elderly parent could then finally be provided with an central city apartment that accommodates them.
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I doubt the market is saturated with studios yet because they are often the most affordable options for singles and the most profitable for developers (I imagine this is the case given how much studios can command per square foot). Does someone know this for sure?
I think that would be a pretty big leap for a developer to be so forward thinking beyond what makes sense now for marketability. Also, I'm not sure the city's policy towards SDC credits is established on the point of combining and then restoring individual units. That would be a big loss to spend on combining units and foregoing $15k+ on SDCs for each lost unit.
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