Quote:
Originally Posted by PHL10
Why? (I'm not countering your point but really had no opinion of the condo/rental mix.)
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I'm speaking in generalities - but, on the whole, owners will be far more likely to invest in things like The Square (it doesn't stay beautiful and manicured b/c of the city's $$ budget - that's privately funded), aesthetic and QOL improvements in the 'hood, donate to CCRA and CCD, become active in the community, etc.. The more High net worth OWNERS taking a stake here, the better imo.
My folks own a condo in a building in Center City that by condo-association mandate
has to be at least 55%owner/45%renter. And the turnover among the renters is insane - they get new people on their floor every few months. A lot are residents at hospitals or the road-warrior consultant class who basically need a nice place to store their crap for a year or two before moving on. Basically, they have little interest and much less invested n the community.