Quote:
Originally Posted by SamInTheLoop
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.
More broadly, my view on the relatively anemic for-sale new construction market is that it is actually more of (or at least, in roughly equal parts) a supply issue as opposed to a fundamental underlying demand issue. There's no question that millennial lifestyle preferences are a component on the demand side...not arguing against that fyi.....but I do think there is existing for-sale demand that is not currently being met on the new supply side.
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I can't recall where I was reading about it lately, but an article was addressing CHA's development around Cabrini from the '00s and how much of it was owner occupied vs. rentals. Needless to say it was referencing how risky it was and all but said it proved to not be the best investment of funds.
That said, hindsight is 20:20.
Anyone heard about when Cabrini will get its first new tower?
https://chicago.curbed.com/2019/3/22...rabee-clybourn
