Downtown Mobile Updates (YMCA, engineers, membership)

[InlandWave]

Does anyone know when the Insider opens?

[Southsky]

Originally Posted by InlandWave

Does anyone know when the Insider opens?

I have read it will be later this month.

[InlandWave]

Originally Posted by Southsky

I have read it will be later this month.

Excellent

[InlandWave]

Originally Posted by Southsky

I believe the Gayfers plan is 19 low-income units (eligible for vouchers) and 75 "affordable" units, which I would guess would be market rate. Commercial first floor, residential above...

That’s interesting curious how that ends up fanning out

[Southsky]

Originally Posted by InlandWave

That’s interesting curious how that ends up fanning out

If that does indeed become the mix, I doubt you see any negatives from it.

[evlb401]

"Under the current plan the building would feature 95 affordable housing units that would be capped by income. 75 units for anyone making up to 60% of the median area income and the other 19 units for those making less than 50%."-- From Fox 10 news.

Al.com says median area income for the area was $35,000. So..... this will be a high concentration of poverty. Can't wait to see Bienville Square after this is built. Downtown workers make too much for this development. I bet this is going to be a LIHTC property. I've seen some of the developer's other projects. They are nice buildings.... but the people make it very sketchy.

[Southsky]

This link is saying median income (covering downtown) is $58.2k.

Additional link to data here.

[evlb401]

Sandy needs to state the income brackets and estimated rents for the units. Lagnappe stated for a family of 4 would be $35,000, which matches the link that you provided.

LIHTC properties limit the rent to 30% of the cap income. So $29,200 (50%) and $35,000 (60%) for a four person household would have gross rents at $8,760/$730 per month to $10,500/$875 per month.

Then you have to subtract the utility allowance (which is estimated by HUD)- Not sure what it is here in Mobile-- but it is $116 in Hattiesburg. I think it would be similar.

So the most they could charge people would be around $614 (3 bedroom at 50% of AMI) and $759 per month (3 bedroom at 60% AMI). That is crazy cheap downtown.

95 units is a lot of low income households to be concentrated on the same block. It could change the character of the neighborhood. At least, I can agree with William Carol that this might not be the best spot.

[natedoggbry]

The city demanding 60% of the median average for the city is the biggest problem. 20 units of people making below 30k for a family of 4 is bad enough. But having all of 94(5) units being poverty housing? That’s a disaster.

[eshore78]

Originally Posted by InlandWave

Does anyone know when the Insider opens?

They're having a private soft opening this week so in the next week or 2 they should be open