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Old Posted Jun 20, 2019, 6:32 PM
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ardecila ardecila is offline
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Join Date: Jun 2006
Location: the city o'wind
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Quote:
Originally Posted by SamInTheLoop View Post
What was the track record I wonder in terms of the market component of the earlier 00s/pre-recession mixed income CHA developments (I suppose mostly concentrated in the former Cabrini area)? Has the CHA been resistant to tinkering with the for-sale percentages of its model new mixed-income developments/adding larger market for-rent components? There should have been some flexibility built-in for a variety of market changes. We'll likely be in the next market downturn (which will undoubtedly differ in ways from the last) - or nearing it - by the time the next projects are finally underway.
Actually there are significant pre-recession communities distributed in equal parts to all the CHA's large development zones. Cabrini, Robert Taylor/Stateway, Roosevelt Square, West Haven, Rockwell Gardens.

I don't know for sure, but I imagine many of the (market rate) for-sale units in the CHA communities were bought by investors on favorable mortgage terms and now rented out (at market rate) for a tidy profit, probably to middle-class black residents.
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