Plats and Parcels
City Will Contribute $9 Million To Huge Bay View Development
Plus: Atid Properties sells portfolio and a recap of week's real estate news.
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$9 Million To Huge Bay View Development
“…something should happen there. It’s better than vacant land.”
Looks like a good way to squander yet another opportunity to support significant jobs on a site having access to rail service, heavy load-bearing foundations and high-capacity connections to utilities.
I don’t know what the total need for subsidized housing
is, nor do I know how units are distributed throughout
the metro area. But is it wise to establish so many units
in one place, rather than distribute them
in smaller clusters more widely?
How many subsidized units are already in place
in the comparably-sized combined developments
in the blocks immediately east of the railroad tracks?
Subsidized housing serves a crucial need.
It should be done right and well.
If this development does not properly serve the need,
or if industrial development is outside the purview
of the owners, perhaps a land swap would bring a
win-win result.
We definitely need more subsidized housing, so I am glad to see this going up in such a nice area. I am surprised however, that a 1 bedroom apartment at 80% is $1394! That’s crazy! That is more than I am paying for my 2 bedroom. Bay View, and many areas are getting so expensive. I lived there for 20 years and had to move to due high costs. It’s sad that these high rents these days are causing people to be homeless, young people to remain dependent on parent’s housing much longer, and seniors having to take in their children or grandchildren and/or live in subpar housing.