Ayannali Blog

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Location: Connecticut, United States

Saturday, February 18, 2006

Conversations over breakfast

Well it was more of a brunch to be exact.
There is a new building being proposed in my town that will be 27 stories high and have retail and luxury apartment space. One thing my town has instituted is a 10% affordable housing set aside. Developers don't like it because it unfairly targets them and no one else has to contribute. Companies aren't contributing, if they don't like the way the housing costs are going, they can move the company.

Housing is extremely expensive around here, so affordable housing is a hot button topic. I don't think that the only ones to pay should be the developers....They should be able to make their luxury apartments and donate to a fund to specifically build a good amount of affordable housing.
Another way to make the fund be worth while is taking a half percent from the sales tax and specifically earmark it for making affordable housing. Then when a new luxury building goes up, another parcel of land can be used to build housing that is mid stream.

Say you have a building where the rent for a one bedroom is luxury at $1600 - $2000 a month, a developer using the fund could make another building where a one bedroom is approximately $800 a month. Then corporations and those who can afford the luxury can be appeased and lower income workers can also benefit. If we have it as a percentage of the sales tax, then the burden isn't being placed on one set of people.

I wonder if something like this would actually work.
I mean there is a Governor's race this year....

3 Comments:

Blogger ming said...

if only people listened!

10:07 AM  
Blogger ZELMARQ said...

hello thak you for visiting my blog, hope you have a nice day. God bless!!!

6:50 PM  
Blogger T. said...

I know it's hard finding affordable housing. Apartments are crazy expensive and houses are even worse. I live in Massachusetts (not too far from you) and the market is terrible here.

7:47 PM  

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