Quote:
Originally Posted by logan5
What? Are you saying the building is going to have above market rates to offset below market rates? Wouldn't that leave a lot of market rate units sitting empty, as they would be overpriced?
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Not above market, just above what some of the listed prices you see like on the City's 2019 DCL rates (Studio $1,768- 3-bed $3,559). But true that the market rates subsidize the moderate income units. If they seek a DCL waiver, which a fair amount do and especially for the MIRHPP, then the market portion COULD have higher rents than the City's listed rates because they are total building unit AVERAGES. The wording is key.
The market will dictate the price for the top floor units. They won't be above market... simply... market.