Amazon winning Cities "NYC, Northern Virginia/DC area HQ2 and Nashville Operation Center of Excellence East coast hub (Chicago, cons)
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They didnt throw in any money. It was you can come were not giving you any tax incentives. Most people in Boston didnt want it either.. they pulled a fit when GE came. :/
Boston did not offer the same billion-dollar tax incentives as the other HQ2 finalists, and instead hoped its pool of top university talent would be enough to draw the e-commerce behemoth. It didn’t work, and the city’s public proposal reveals a fairly tame set of perks when compared to other cities’ offers.
Aside from a commitment of $75 million in funding over 10 years to maintain home prices around the proposed 8 million square feet of development needed for HQ2, the city also offered about $13 million in “workforce training grants” to build a tech talent pipeline. Among the more interesting incentives: The city said it would help eligible Amazon employees purchase homes in Boston by providing zero-interest loans to help with down payments (Buzzfeednews.com, 2018).
Yeah, they won't have to do a Manhattan by living 3 or 4 deep in a studio.apartment.
Okay, Manhattan is expensive but it's not "we have to go 3 deep in a studio apartment" expensive while making $150K/year. They will be making $150K which is still fairly decent in NYC. You cannot afford a brand new luxury 1 bedroom in Manhattan on that (maybe in Harlem though?), but on $150K you could easily afford an older 1 bedroom in UES or UWS (or Harlem, or other areas) if you wanted.
With that being said, I just moved from UWS to Long Island City, into a luxury 1 bedroom in a building that was completed less than 5 years ago. Someone on a $150K salary with no huge debt will be able to afford a luxury 1 bedroom around here. Not to mention that a lot of them could just go into places like Astoria nearby and get way more for their money. My fiancee used to live there not long ago and her 2 bedroom was $2300/mo total ($1150/person). If someone really wanted, they could get a 3 bedroom to themselves in neighborhoods like that.
Also, my old 1 bedroom in UWS is on the market for $2700/mo right now - on a $150K salary, the max salary that's generally accepted (40X rule) is $3750. In other areas like UES you can find cheaper places.
Okay, Manhattan is expensive but it's not "we have to go 3 deep in a studio apartment" expensive while making $150K/year. They will be making $150K which is still fairly decent in NYC. You cannot afford a brand new luxury 1 bedroom in Manhattan on that (maybe in Harlem though?), but on $150K you could easily afford an older 1 bedroom in UES or UWS (or Harlem, or other areas) if you wanted.
With that being said, I just moved from UWS to Long Island City, into a luxury 1 bedroom in a building that was completed less than 5 years ago. Someone on a $150K salary with no huge debt will be able to afford a luxury 1 bedroom around here. Not to mention that a lot of them could just go into places like Astoria nearby and get way more for their money. My fiancee used to live there not long ago and her 2 bedroom was $2300/mo total ($1150/person). If someone really wanted, they could get a 3 bedroom to themselves in neighborhoods like that.
Also, my old 1 bedroom in UWS is on the market for $2700/mo right now - on a $150K salary, the max salary that's generally accepted (40X rule) is $3750. In other areas like UES you can find cheaper places.
I lived in Downtown Manhattan with 2 roommates at the age of 20-21 working part-time at a bar on about $30-35K. Sure Manhattan is expensive but not as impossible as people tend to think. $150K is more than enough to live in Manhattan alone, just not super luxury as you were saying.
Also Amazon will be in Queens. So I’m sure a lot of the workers there will live in Manhattan, but I would expect just as much, if not more workers there to be living in BK + Queens
As a New Yorker I understand there is a room mate culture here but I have never met anyone making over 90K that lives with roommates. Actually all of my friends who make 6 figures seem rather too comfortable that they end up being careless with money and overspending.
As a New Yorker I understand there is a room mate culture here but I have never met anyone making over 90K that lives with roommates. Actually all of my friends who make 6 figures seem rather too comfortable that they end up being careless with money and overspending.
They must be getting good deals. Most of the people I work with who are within 2-3 years out of school either make a little under 6 figures or barely over - and most of them live with roommates in Manhattan. Might be the "just out of college" mentality and the fact that they want to live downtown, which is not cheap.
They could afford a studio at least in UWS probably and maybe 1 bedroom here and there in UES, but to them both of those places are boring which is why they live downtown with roommates as they cannot afford to live alone in those areas.
Also Amazon will be in Queens. So I’m sure a lot of the workers there will live in Manhattan, but I would expect just as much, if not more workers there to be living in BK + Queens
There will be a lot who want to live in Manhattan because it's Manhattan - and many will. However, I expect that a bunch will also live in LIC, Astoria, Sunnyside, etc. I expect some more developments in those areas to pop up. Brooklyn along the G line too of course - as long as service on that line improves.
They didnt throw in any money. It was you can come were not giving you any tax incentives. Most people in Boston didnt want it either.. they pulled a fit when GE came. :/
You don't know what you're talking about. Dallas and Washington D.C. offered over 1 billion in incentives to Amazon. Atlanta offered over 2 billion in incentives to Amazon. Nashville only offered to give Amazon 375 million over a span of 15 years given that specific job creation criteria were met.
For the Center of Excellence Nashville only offered 102 million in incentives.
You should at least state facts if you are going to say something. This is just like when you said those cities have the same development under construction like Nashville Yards without even offering a shred of evidence.
Last edited by QuinnMill; 01-21-2019 at 06:58 AM..
You don't know what you're talking about. Dallas and Washington D.C. offered over 1 billion in incentives to Amazon. Atlanta offered over 2 billion in incentives to Amazon. Nashville only offered to give Amazon 375 million over a span of 15 years given that specific job creation criteria were met.
For the Center of Excellence Nashville only offered 102 million in incentives.
You should at least state facts if you are going to say something. This is just like when you said those cities have the same development under construction like Nashville Yards without even offering a shred of evidence.
I agree with you that cities were offering yuge sums of money. But I have to disagree the multi-phase development is something special or out of the ordinary.
In Washington, off the top of my head, “The Yards” and “The Wharf” come to mind. “Scott’s Run” in Tysons. I’m sure there’s more of various scales. The old Fannie Mae HQ has a smaller but still significant major redevelopment. The Union Station redevelopment is pretty massive.
Raleigh has its North Hills Development. Charlotte, which wasn’t an amazon city, has Legacy Union. But if just seems like these large multi-phase developments of assembled parcels are par for the course these days.
Last edited by Charlotte485; 01-21-2019 at 07:59 AM..
You don't know what you're talking about. Dallas and Washington D.C. offered over 1 billion in incentives to Amazon. Atlanta offered over 2 billion in incentives to Amazon. Nashville only offered to give Amazon 375 million over a span of 15 years given that specific job creation criteria were met.
For the Center of Excellence Nashville only offered 102 million in incentives.
You should at least state facts if you are going to say something. This is just like when you said those cities have the same development under construction like Nashville Yards without even offering a shred of evidence.
Honestly not sure the COE was up for bids, just the HQ2
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