why not weave market rate housing into this project? If. you just make it all ‘lower income’…you know what you are going to end up with in the end…
Lack of maintenance is a bigger risk to any project that relies on public funding. Even private developments struggle with keeping properties up to date (lest we forget Champlain Towers in Surfside). Publicly funded projects go to shit because we let them go to shit, and if you subscribe to the broken windows theory, people will respond to the environment accordingly. If it looks like shit and isn’t kept nice, what’s the motivation to treat it as a nice place to live? It’s a super complicated situation.
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Edit: This is the site Boltman referenced on Redfin above.
I will add that South Park is firing out of all cylinders lately. Earlier in the year some had concerns of slowing activity of new builds - Quite the opposite now half way into 2021
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What’s that supposed to mean?
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You will end up with what every other solely “low income” project looks like within a short timeframe.
Looks similar to (but taller than) developer’s other project in Pittsboro:
https://www.apartments.com/bellemont-pointe-apartments-pittsboro-nc/jg5lkk7/
A single all-affordable building isn’t anywhere comparable to the vast failed housing projects of yesteryear. There are many reasons why a landlord might want only below-market tenants – LIHTC financing formulas often encourage lower targets (especially <60% AMI), it makes administering rent subsidies easier, and/or maybe vouchers pay above-market rents.
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Which is what? Just curious!
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The Walnut Creek Wetland Park is already planned to be upgraded through the city parks bond, and locals were put in charge of designing a way to integrate itself with the wetland and its education center: the Bailey Drive Gateway.
This planning program is funded by the Conservation Fund and facilitated in part by the UNC systm. The city’s parks and greenways board will look at the final plans they came up with later this week. If this is approved, bidding is expected to happen later this Fall, and construction should start in the first half of next year.
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That’s my neighborhood! We’re pretty excited about this project, although I’ll probably move before I get to see it completed. Been waiting for a direct trail link from Bailey Dr across the creek to the Greenway since forever. If you’re in the area, there’s a little pre-installation set up on Bailey Dr now that includes some remembrances from the neighborhood’s original residents.
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This was in the Biz Journal recently, but this old brownfield lot currently occupied by dirt and an old warehouse has finally been slated for development. Passage Home (who are developing Toulon Place across Garner Rd) wants to build 72 units, 100% affordable housing, with a 55+ requirement. The stated goal is to permit people who’ve lived in South Park for a long time and are being priced out to stay within the neighborhood. Rezoning hasn’t yet been filed so we’re still some way from actual construction.
https://www.bizjournals.com/triangle/news/2021/09/24/passage-homes-south-park-apartment-push.html
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And here’s another development in the area I just discovered! It’s not new, but, it’s interesting. The yellow parcels are all owned by Summit at Sawyer LLC, and are evidently to be developed into affordable apartments, six buildings supposedly opening fall 2022. Pricing is quoted at $610-$1050 for a 2/2, which is pretty good.
There’s an ASR on file with the city but it’s old, and the LLC dates to 2018, so this might be stalled. I wonder if the single holdout is preventing it from moving forward.
https://www.upmapartments.com/find-housing/raleigh-durham/the-summit-at-sawyer
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The land is acquired and under control by the city. I believe the city and its partners are just waiting for permits and closing. I know for sure this project is still moving forward, albeit slowly so far.
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Neighborhood meeting for this rezoning IX-3 → OX-4-CU
(for affordable senior housing)
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How many “senior housing” developments do we really need?
Obviously the demand is there. It’s not just here. it’s everywhere.
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The Baby Boomer generation is huge and they are all pretty much seniors at this point who apparently want to live in 55+ developments. See The Villages in Florida for reference.
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How many do we have? The Cardinal?
You get less neighborhood pushback when you build housing for poor “old people”……see it in cities all over the country
Still seems like we are packing this model a bit heavily in East Raleigh
East Raleigh is full of aging, soon-to-be displaced, low-income people. I’d say it’s much needed.
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There’s also the Overture at Western and Pullen.