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Re: Lottery open for affordable units in Jersey City apartment building
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Home away from home
 
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The way to make housing affordable for all is not to build more 3 or 4 family units, and instead more highrises in a 14 sqr mile area with limited land constrained/surrounded by water. Basic economic/market forces of increasing supply (significantly) , coupled with the right incentives to build highrises, will address the problem.
Posted on: 2018/7/25 15:56
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Re: Lottery open for affordable units in Jersey City apartment building
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Home away from home
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But, that's the point! You are combining two separate issues/matters. Changing the affordable housing definition and requirements to make luxury apartments affordable to more people is no different than implementing market controls. If we go down that road, what is to stop the city council to expand requirements to include more units and/or more people. Where does it end? Affordable housing, as we know it today, has a very specific goal and definition. Some will find fault with it, but it is a noble one. I am not sure it has worked/succeeded as envisioned, but that is a different matter.
Posted on: 2018/7/25 13:42
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Re: Lottery open for affordable units in Jersey City apartment building
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Home away from home
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Well, I don't necessarily think it's a bad idea. Right now, a lot of people associate affordable housing with low income Section 8. Rents are high for everyone right now. If affordable housing can mean someone making a decent income can benefit, that may be a way to generate a larger community buy-in when these developments are proposed. I would love for the market to get away from luxury developments and build more housing for the middle class. Unfortunately, the way our current zoning works, it's costly to go through the approval process and limits supply to a point where only luxury units makes the most economic sense. For example, if Jersey City could ever get around from changing the R1 zoning to allow 3 or 4 unit buildings, those units will be much more affordable than the luxury stuff being built on the waterfront.
Posted on: 2018/7/25 12:21
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Re: Lottery open for affordable units in Jersey City apartment building
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Home away from home
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I considered that too, but I actually think he fully meant what was quoted. Supposedly, locally, the median income for a family of 4 is 94K. No way they could afford a 6K/mo rent but, then again, I fundamentally disagree that just because someone wants to live somewhere, they are entitled to do so. I think people like Mr. Walsh actually do a disservice to the affordable housing concept by trying to expand its availability to what many would consider to be upper middle class residents.
Posted on: 2018/7/25 2:06
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Re: Lottery open for affordable units in Jersey City apartment building
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Home away from home
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I think he misspoke or didn?t understand the question.
Posted on: 2018/7/24 23:47
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Re: Lottery open for affordable units in Jersey City apartment building
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Home away from home
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I don't understand this part: "Kevin Walsh, executive director of advocacy group Fair Share Housing Center, said restricting the 485 Marin affordable units to people who make no more than 80 percent of the county's AMI excludes too many residents of Jersey City" So, if a maximum of 80% of median salary excludes too many people, what should it be? 100%? Wouldn't that be a subversion of the principle/idea of affordable housing for those who would otherwise be relegated to living in economically depressed areas??
Posted on: 2018/7/24 23:10
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Re: Lottery open for affordable units in Jersey City apartment building
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Home away from home
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"The 485 Marin rents are 19 to 33 percent higher than the "good faith estimate" of rents submitted to the council in 2015 when the project's 20-year tax break was approved. Then, the rents were estimated to range from $990 and $1,643.
Spokeswomen for the city and for KRE Group declined to comment on the change."
Posted on: 2018/7/24 19:28
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Lottery open for affordable units in Jersey City apartment building
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Home away from home
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By Terrence T. McDonald tmcdonald@jjournal.com
The Jersey Journal Anyone interested in entering the lottery for the 80 affordable units at the new apartment complex on Marin Boulevard has until Friday to apply. https://www.nj.com/jjournal-news/index ... n.html#incart_river_index
Posted on: 2018/7/24 18:55
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