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Originally Posted by pattherat
Hmmm, this gives me pause on who I’m voting for now. Landsdowne absolutely needs further development. Affordable housing has to use a subsidy approach, otherwise builders will simply not build at a loss. At any rate, ‘affordable’ is a misnomer as long as it means only 5-10% below market value. Also once built, who’s to say it won’t be resold at then market values 2-3 years on?
Re: Lebreton Arena, I wonder if any of them support brownfield grants? I agree on the public money overall, but the site still needs soil remediation and I believe the city should consider the grants route…no matter the mayoral candidate.
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Affordable in these developments usually go by the CHMC definition (~30% of the median income of the local area), however when McKenney states it you can replace it with "community housing/OCH style". These units also usually have some kind of clause or etc that stops the resale at market value for 5-10 years or for other they want them to be given directly to non-profits/OCH/CCOC. With no bonuses paid out, so that the full cost of the units are paid for by new residents.
If its McKenney they have vocally opposed both CIP programs (when put into action) and Brownfield grants and will likely oppose them again with Lebreton.
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