Signal boost: Affordable Housing

[jducoeur]

Just heard from my Alderman that there's a huge new apartment complex proposed for Assembly Square, and the developer is trying to talk the city out of requiring the usual minimum amount of affordable housing.  If you think this is a bad idea, I recommend writing to the Planning Board.  More details on Mark Niedergang's website.

Comments

[secretlyironic]

The argument from the developer is that when they began the project, the inclusionary requirement was 12%.

It has since been raised to 20%, which changes the math of the whole thing. They're asking to be permitted to continue their project based on the original plans, rather than the new requirements.

It's not unreasonable to require 20%, but it will probably increase the price of the market rate apartments. It would not be unreasonable to offer the developer an increased FAR to balance out the increased percentage.

[jlauspitz]

Agreed that the increase from 1/8 to 1/5 in the "affordable" requirement has the effect of increasing rents for the "non-affordable" category, thus squeezing out middle income residents. Another unintended effect is to increase speculation on 3-4 unit properties, which fall below the requirement.

[somergirl80]

Thank you the information. I would love to write to the board. What has happened to this city is disgusting. They're already ripping people off in those ugly buildings. People not from here are stupid enough to pay it unfortunately. Affordable housing is getting hard to come by and unfortunately more of the very few people left that are from here are being forced out.