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Where are you getting that number? I'm asking because it is a 157 unit community.
From the Rochester Business Journal. The same source as you. Cost was $44.8 million. Do the math. This is in line with other "affordable" apartments built in the region. Waaay more than it would cost if it was a private development, partially due to nys laws, like prevailing wage and scaffold laws
No, it is not self explanitory. Where is the proof of your claim?
Sure, it has been posted many times by YOU. You're starting to sound like fakebook with your "this has been posted before"
No, this has been posted many times before when I post development information and many times that is when you come in having an issue with subsidies and tax breaks. Yes, it has been done many times before, ad nauseum on this forum for years and by many posters.
From the Rochester Business Journal. The same source as you. Cost was $44.8 million. Do the math. This is in line with other "affordable" apartments built in the region. Waaay more than it would cost if it was a private development, partially due to nys laws, like prevailing wage and scaffold laws
It is a private developer building relatively affordable housing for seniors. All development ends up costing more due to breaks and subsidies.
I only posted a snippet of the article, not the whole RBJ article. So, you may have to post that information.
I got the data from the print addition, so I don't have the link, but as I said, it is in line with other projects like that, and I have commented on them too. I don't have on line access.
Crista is the builder. It's a Pathstone project, and they specialize in subsidized housing.
Since you can't provide any links, all while saying they are numerous, I will just ignore the comment. I don't know what it's like in Syracuse, but when a developer builds their project in Rochester, THEY build the roads, sewers and other utilities. Not only that, but in many suburbs, the developer is mandated to leave some of the plot undeveloped, and/ or install a pond. They also are forced to contribute to town parks and recreation for every unit they develop. AFTER the project is complete, the developer then dedicates the streets and utilities to the municipality.
I got the data from the print addition, so I don't have the link, but as I said, it is in line with other projects like that, and I have commented on them too. I don't have on line access.
Crista is the builder. It's a Pathstone project, and they specialize in subsidized housing.
Since you can't provide any links, all while saying they are numerous, I will just ignore the comment. I don't know what it's like in Syracuse, but when a developer builds their project in Rochester, THEY build the roads, sewers and other utilities. Not only that, but in many suburbs, the developer is mandated to leave some of the plot undeveloped, and/ or install a pond. They also are forced to contribute to town parks and recreation for every unit they develop. AFTER the project is complete, the developer then dedicates the streets and utilities to the municipality.
I’m sure if you look, you can find similar examples of this even in Rochester.
Of course senior housing is going to be subsidized, given that they are on a fixed income.
Also, can you at least type in the print information you have?
Historic tax credits and all cities have incentives to encourage development. Would you think it wise to leave money on they table that is being offered? That would be foolish. The developers competitors will take advantage. BTW, it costs more to restore a building, than to tear down and build new. So, in your case, they need to recruit developers by dangling a carrot.
Nice dodge, but you didn't make your point
It's a lengthy article. I reported what was important.
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