Right. "Affordable housing" Every unit costs them a minimum of $500k to build when it should cost at the most around $100k MAX (and that is pushing it).
Archive: https://archive.today/4rlLu
From the post:
>East Palo Alto, like cities across California, has a law on the books that forces developers of new housing projects to foot the bill for the state’s shortage of affordable homes.
New residential projects need to set aside a share of the units they plan to build for lower-income renters and homeowners under the terms of the city’s “inclusionary zoning” ordinance. Builders who refuse have to instead pay a fee, ranging from the tens of thousands to hundreds of thousands of dollars.
Right. "Affordable housing" Every unit costs them a minimum of $500k to build when it should cost at the most around $100k MAX (and that is pushing it).
Archive: https://archive.today/4rlLu
From the post:
>>East Palo Alto, like cities across California, has a law on the books that forces developers of new housing projects to foot the bill for the state’s shortage of affordable homes.
New residential projects need to set aside a share of the units they plan to build for lower-income renters and homeowners under the terms of the city’s “inclusionary zoning” ordinance. Builders who refuse have to instead pay a fee, ranging from the tens of thousands to hundreds of thousands of dollars.
(post is archived)