Quote:
Originally Posted by SamInTheLoop
Is that why it doesn’t meet “his standards”? I didn’t read that....but I did see earlier comments more generically about what he wants to see more of in his ward. Honestly I don’t know much about him or what to expect, but I can’t help but have a sneaking suspicion that we should expect less development broadly in the 1st, which of course means an acceleration in price and rent growth (though less a not insignificant supply-induced demand effect - which a lot of market watchers completely miss), and a corresponding acceleration in the pace of gentrification.
|
Supply induced demand? You actually think people are moving to Logan Square because they are building TOD there? Lol...
Listen, nobody moves places because big new buildings are being built, big new buildings are built because people want to live there. All this is going to do is massively accelerate price gains. I'm already seeing $800k+ SFH sales in Avondale where there has been categorically no large scale new construction. At this rate I expect to start seeing $1mil+ sales in the next couple of years.
Quote:
Originally Posted by the urban politician
The understanding that I have is that he wants more family sized units.
Given that the building is of finite size, this means that the developer will need to build fewer apartments. Thus, less affordable housing.
This new Alderman is brilliant!
Anyhow, if I were the developer I would comply, and then just market it to groups of roommates.
|
Yeah "family sized units" i.e. things I would lose my real estate license if I said...
I'm telling you, one of these days an alderman is going to get sued on Federal Fair Housing violations...