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Jeffrey Phillips
@11thJeff
Fully below-market-rate is the kind of new development I can get behind 💙 Wish it was both buildings. The only way to lower average housing prices is to actually price new housing BELOW that average, and make it available to everyone.
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Brian Coyne
@BrianBicycles
Two 11-story apartment bldgs, one fully below-market-rate, replacing car lots at 15th and S Van Ness, both with zero car parking! sfyimby.com/2022/03/update
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Jeffrey Phillips
@11thJeff
Replying to
@constans
That's not apparent to me; we've built quite a number of expensive places and prices have only gone up, because more Maseratis does nothing for the price of used Civics. If we want cheaper apartments, we have to be building cheaper apartments, targeting below the average rent.
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Jeffrey Phillips
@11thJeff
Replying to
@constans
And that's where setting the initial price, and keeping them under rent control comes in. It would be great if the market worked as you say. Plenty of new development the last 20 years has showed it does not; it's time to address the segment of the market that needs the growth
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