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comment by steve
steve  ·  2492 days ago  ·  link  ·    ·  parent  ·  post: Homelessness up 26% in LA YoY, 10% in Seattle , *61%* among LA youth

there is ZERO incentive to build affordable housing.





b_b  ·  2492 days ago  ·  link  ·  
kleinbl00  ·  2492 days ago  ·  link  ·  

This played out in my old neighborhood.

1) Build high-rise partially funded by tax incentives for section 8 housing

2) Fail to sell condos

3) Argue that the business model didn't work, everything needs to be apartments (no section 8)

4) City refuses to give occupancy

5) Developers sue city

6) City settles, condo becomes apartments, no affordable housing.