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"LRTs displace all the poor people"?
#51
(01-25-2016, 03:25 PM)zanate Wrote: 48 Weber comes to mind, though it's not going to be a cut and dried example. It had fallen past the point of human habitability, but the company that decided to renovate it certainly isn't doing it with the working poor in mind. Nor are they economically incentivized to.

Though given that their fancy, renovated units are going for under $900/month, this is not sky-is-falling gentrification either.

(01-25-2016, 03:25 PM)zanate Wrote: The only real solution is increasing supply at the low end of the market. But where's the money in that? 

I'm not sure that's the right question, as supply itself can change. The money is in building what's in demand, and what is profitable to build given the zoning constraints (which, e.g., force new builds to include the high cost of parking in their price). But when you build new buildings in the middle and high end, they should push existing, older buildings down the ladder.

(01-25-2016, 03:25 PM)zanate Wrote: Does anyone know if someone is actually building or opening anything new downtown that goes for under a thousand a month in rent?

If you consider renovations of existing buildings without parking, then the aforementioned 48 Windermere qualifies at $895. 1 bedrooms in the Cedar brownstones are under $1000. Studios in a new build from Blaze Properties (that I think looks great!) are way under, if you can get one.

But I think parking and zoning rules are a big contributor here. To pay for all the studies needed to convince the city to change unreasonable zoning, and to make structured parking more cost-efficient, it probably helps to build at a large scale and on the higher end. But without changing zoning rules, you can't do dense, efficient, small-footprint construction - which is why for the most part, we don't see projects like these downtown.
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Messages In This Thread
"LRTs displace all the poor people"? - by ookpik - 11-06-2015, 09:20 AM
RE: "LRTs displace all the poor people"? - by mpd618 - 01-25-2016, 11:31 PM
RE: "LRTs displace all the poor people"? - by nms - 01-28-2016, 10:49 AM
RE: "LRTs displace all the poor people"? - by nms - 01-29-2016, 01:48 PM
RE: "LRTs displace all the poor people"? - by nms - 05-09-2016, 01:17 PM
RE: "LRTs displace all the poor people"? - by nms - 04-10-2017, 12:54 PM
RE: "LRTs displace all the poor people"? - by nms - 04-20-2017, 11:28 PM

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