If you’ve attended a hearing I think you’ll see YA and Housing Action are at the extreme end of negotiating down BMR at every corner.
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Replying to @scottsjackson84 @TribTowerViews and
Considering 2016 Prop C's role in cutting down BMR production and the effect impact fees are having on increasingly dwindling pipelines, pushing back against unstudied affordability mandates because of politically pleasing numbers is good. X% of 0 units = 0 affordable housing.
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Replying to @IDoTheThinking @scottsjackson84 and
so much of the discourse around this is premised on a misunderstanding of real estate development being a wildly profitable endeavor rather than a cutthroat low margin one
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Replying to @mtsw @IDoTheThinking and
More like a cutthroat high risk high return endeavor.
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Replying to @Maxtropolitan @IDoTheThinking and
i mean a bunch of real estate development companies are publicly traded and publish annual reports. you can check the margins if you don't believe me.
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Replying to @mtsw @IDoTheThinking and
Margins being tight and the people running the show getting filthy rich are not mutually exclusive situations.
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Replying to @Maxtropolitan @IDoTheThinking and
of course but the point is that there aren't necessarily huge surpluses of profit in most developments that can be redirected to BMR housing without making the project uneconomic
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Replying to @markasaurus @Maxtropolitan and
one of the reasons I prefer direct provision to IZ is because you can do it as counter-cyclical stimulus to keep construction equipment and labor productive in downturns, while IZ makes housing construction even more pro-cyclical than it already is
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Replying to @mtsw @markasaurus and
agreed, but also re: your point about inefficiency vs taxing per market rate unit, that's true but it depends on the tax. IZ spreads the per unit subsidy across all the units in a market rate project, making it sometimes more efficient than taking a tax & building 100% affordable
2 replies 0 retweets 2 likes
We should spread it over alllll real estate, not just the 2K units we produce a year.
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Replying to @peterjgowan @mtsw and
Split roll is happening on the ballot in 2020. All strategic ideas welcome.
1 reply 0 retweets 12 likes - 4 more replies
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Replying to @kimmaicutler @mtsw and
oh no, i agree. i'm just counterposing two models based on one theoretical project
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