Quote:
Originally Posted by Obadno
Yeah this, all the apartments downtown are far too expensive for the anyone making below median income (for the city) I think it wouldn't be bad to see more market rate apartments of smaller size, fewer amenities and maybe more economy finishes/materials to meet the demands of people who cant afford the "luxury" apartment prices.
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I think everyone agrees there would be demand, but I don't see anyone who would want to invest to earn a lower return. At the end of the day, developers have the right to invest their money where they can earn the highest return.
Sure I guess you could offer tax incentives, but likely that wouldn't be enough. I mean, maybe a 50-story tower of micro apartments? Have the volume compensate for the reduce rents? At the end of the day, I think the solution is still more and more towers so that supply exceeds demand and rents fall. As towers age rents should also decrease.