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moreland01

(858 posts)

7. Where I live (Colorado)

Mon Nov 10, 2025, 02:03 PM

Nov 10

the builders take the incentives and then break their promises with no consequences. They get permits to build a 250-unit condo complex promising to make 20 of them deed-restricted affordable and then forget to actually offer those 20 units at the agreed on affordable rate. And consider still how the potential low-income future owners of these units balk that they'll be limited to 5% profit if they ever decide to sell their unit. They want them cheap AND the ability to sell them at market rates when the time comes.

It's a very complex issue that has been plaguing cities for a century.

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IbogaProject Yo_Mama_Been_Loggin

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Highlight:

New York City commercial real estate industry seeks to work with Mamdani as rent freezes threaten [View all] BumRushDaShow Nov 10 OP

And many are staying in place.................. Lovie777 Nov 10 #1

You mean that the promised "exodus to Florida and Texas" isn't happening? OMG!!111!111!! PSPS Nov 10 #2

If I owned an apartment building in NYC moreland01 Nov 10 #3

"why would any landlord agree to participate in that type of program?" BumRushDaShow Nov 10 #4

I think you are misinformed, the buildings were entered into the program longago or IbogaProject Nov 10 #6

Where I live (Colorado) moreland01 Nov 10 #7

Yes those "limited equity" ones are a boondogle IbogaProject Nov 10 #8

Only buildings built before 1975 are under actual Rent Stabilization or Control IbogaProject Nov 10 #5