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Author Topic: Affordable units now a requirement for new apartment buildings in Minneapolis  (Read 621 times)

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rangerrebew

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Affordable units now a requirement for new apartment buildings in Minneapolis
« on: December 14, 2019, 02:47:59 pm »
 Affordable units now a requirement for new apartment buildings in Minneapolis
 
 

By Liz Navratil , Star Tribune
December 13, 2019 - 10:08 PM

After Minneapolis leaders pitched a plan to require affordable housing inside new apartment buildings, some developers issued a threat: Enact it, and we will flee.

On Friday, the city decided to move ahead anyway.

“We need to be brave enough to make policy that addresses a problem with the status quo,” Council President Lisa Bender said. “If we are too concerned about making changes, what we are really doing is leaving folks out of our growth.”

http://m.startribune.com/affordable-units-now-a-requirement-for-new-apartment-buildings-in-minneapolis/566178991/
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rangerrebew

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Re: Affordable units now a requirement for new apartment buildings in Minneapolis
« Reply #1 on: December 14, 2019, 02:49:22 pm »
It should read "affordable units for Somalis.   :yowsa:
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Offline PeteS in CA

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Re: Affordable units now a requirement for new apartment buildings in Minneapolis
« Reply #2 on: December 14, 2019, 04:42:39 pm »
Unrelated to Immigration. Moving to States forum.
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Offline sneakypete

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Re: Affordable units now a requirement for new apartment buildings in Minneapolis
« Reply #3 on: December 14, 2019, 06:47:59 pm »
I wouldn't want to be a building inspector in Minn now.

Guess who is going to get blamed,be sued,and maybe even sent to prison,once the buildings start collapsing.

Not that I think 3rd world parasites won't properly maintain and fix the "free" housing they live in,mind you.
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Online Wingnut

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Re: Affordable units now a requirement for new apartment buildings in Minneapolis
« Reply #4 on: December 14, 2019, 06:51:56 pm »
Quote from: rangerrebew on December 14, 2019, 02:49:22 pm
It should read "affordable units for Somalis.   :yowsa:

Spot on.  If you build them the scum will come.
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Offline roamer_1

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Re: Affordable units now a requirement for new apartment buildings in Minneapolis
« Reply #5 on: December 14, 2019, 07:00:29 pm »
There goes the funding for multi-family dwellings. No bank in its right mind is going to fund a project with gimmedat built in. The problem these folks don't see is that the margin in rentals ain't all that great anyway, so narrowing that margin makes it harder for an applicant to show a profit expectancy that a bank would buy into... And the project will not find funding, and entrepreneurs will wander off and find something else that they can make happen.

Unintended consequences. Karma's a b*tch.
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