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Use housing market forces to help
by Nancy Oates on May 22, 2017
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Tagged taxpayer bailouts
Posted by Nancy Oates on May 22, 2017
http://chapelhillwatch.com/2017/05/22/use-housing-market-forces-to-help/
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Terri
/ May 22, 2017“these landlords have quietly advocated for a taxpayer bailout.”
Who are these landlords? From whom are they requesting bailout?
Evan
/ May 22, 2017Do you have any evidence for this assertion?
“. . . an abundance of pricey rentals raises the rent floor all over town. An apartment that previously rented for $700 a month now charges $1,000 because that increase appears affordable compared to the $2,000 average in the new buildings. ”
In any case, it is obvious that the right thing to do here is to not subsidize these apartments.
Bonnie Hauser
/ May 22, 2017I love the idea of using market forces for affordable housing – but I’m still missing a plan that shows what kind of housing is going where. and IMO- the plan would include the towns and the county, developers and the NFPs.
I’m impressed that Carrboro got Legacy Real Estate to build Shelton Station with 20% of its unit for Workforce Housing. It didn’t cost a nickel – but Legacy did get a density bonus to make the numbers work.
Does it bother Chapel Hill residents to be giving the county millions of dollars for AH (in addition to the bond), and now the town is asking for another 5 points for AH?
And given the millions in profits that are now coming from new development (Alexan, Liberty Warehouse, etc), might developers kick a little into the pot?
The politics are creepy. Maybe its not about the money.
Del Snow
/ May 25, 2017Years ago, Council member Gene Pease said that applicants come in with built in concessions in order to get approval. Nowadays, most applicants don’t seem to feel that they owe anything to the community that enables their profits. Even more importantly, they don’t seem to care about the world in general – getting green building standards (benefiting everyone, including them and their families…) or helping those who aren’t as wealthy as they are. If the police station moves, couldn’t a development (market rate and affordable mix), occur there? Financial segregation is not a winning strategy.