Look forward to seeing you all out there in support of the next LIC-style upzoning and we can create a bunch more affordable units!
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Publicly funded. Privately run. Mercy housing as a great example.
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many affordable nonprofits are good. many are privatizing public housing and screwing over the current residents. I organize with both. it’s actually really complicated and if you bring up Mercy my brain will explode as
@kimmaicutler is well aware - 5 more replies
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I think IZ has promise because investment developers are making a killing just off of land values and they can totally afford it. We can also have density bonuses to boost BMR. IZ also sets up a model of mixed income BMR that is sort of prototype of what we need.
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the issue with IZ isn't that there's surplus devleopers are making, it's that the subsidy required for those units is very inefficient compared to just taxing market rate units and then directly providing them.
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IZ is means tested but on the other hand includes a wide range of incomes. Targeted approaches reinforce segregation and we need to mainstream 100% BMR/ social housing (financed by bonds and then ppls rents). The public sector can build much faster too.
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We still build public housing all the time in the form of dorms and we could build it at scale again with revenue bonds secured with future rents. The developing agency could either make a profit or plow the money into cross-subsidizing rents. Much better than IZ!
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