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January 15th, 2006 at 8:50 am
This situation is awful & just getting worse by the day.
How can this situation be so MISmanaged?
I wonder if, it wa EVER the intent of the first three developers to EVER buikd any affordable units over there?
Perhaps, they figured if they dragged their feet long enough, the city and state would just say, ”
Oh, go ahead, do what you have to do..” (eliminating the afordable units..)
Now, I was surprised to find that this was to be a mix..so they took away “X” amount of affordable housing units and replaced it
with far less affordable housing.
Granted, I was glad to see that the area was to be reinvented. The facilites were an eyesore. However, you can’t get away from the fact that
it was a home to many many families. Irrespective of where they were relocated.
I beleive it was Waittil..that had suggested a type of community housing plan..having to do with keeping living costs stable
over a long period of time..Perhaps he will weigh in later on this..
January 15th, 2006 at 10:43 am
The plan I mentioned earlier was based on leasing the land upon which the to-be purchased housing was built. Much of the escalation of housing prices is due to supply/demand rather than building costs (although building costs are increasing). I don’t know who the owner of the Julian Steele property is, but I suspect it is a public entity. Therefore, as K-R-S is suggesting, that may be a good candidate for a community housing plan.
The sale price would be the cost of the housing (with some profit for the builder), and there would be a lease cost for the land, likely a nominal fee that would be sufficient to maintain the common property. In addition, there would be a restriction on the property, where a re-sale would be regulated to prevent speculative purchases of the housing, and the long term affordability of the housing would be retained.
I don’t know of such a plan in practice, but I would agree that Julian Steele would be a good candidate for a demonstration project.
January 15th, 2006 at 10:52 am
It didn’t take too long to find some information on the concept mentioned above. Take a look:
http://www.lincolninst.edu/pubs/pub-detail.asp?id=1011