Comments on: Lazy and Uninspired http://hugeasscity.com/2008/08/03/lazy-and-uninspired/ > so much wonderful packaged in such a mess Fri, 10 Feb 2012 14:54:55 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: mortgage calculator amortization http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-503918 mortgage calculator amortization Sat, 12 Mar 2011 07:18:02 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-503918 I’m not sure where you're getting your info, but great topic. I needs to spend some time learning more or understanding more. Thanks for great information I was looking for this information for my mission. I’m not sure where you’re getting your info, but great topic. I needs to spend some time learning more or understanding more. Thanks for great information I was looking for this information for my mission.

]]> By: Pointer Men's Basketball http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-370858 Pointer Men's Basketball Sat, 30 Oct 2010 07:42:11 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-370858 Maybe you could make changes to the page name title Lazy and Uninspired | hugeasscity to more better for your blog post you make. I loved the blog post yet. Maybe you could make changes to the page name title Lazy and Uninspired | hugeasscity to more better for your blog post you make. I loved the blog post yet.

]]> By: Joshua http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-1248 Joshua Wed, 06 Aug 2008 16:50:00 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-1248 I assume you're asking about the MFTE. The way it works, and this is rental I'm referring to, 20% of the units are priced to be affordable to those making 80% of the area's median income (or 90% for two bedrooms). In exchange for maintaining this 20% "affordable" developers receive a property tax exemption for 12 years. I'm not as familiar with the homeownership component of MFTE, but I believe it gives buyers that fall into slightly higher median income categories property tax exemptions for 8 years, allowing them to afford more (but, to your point, doesn't incent developers to lower prices). I think MFTE is better for rental. To the larger point, though, it's a small tool in what should be a larger toolbox to help provide affordable housing for both renters and homeowners. I assume you’re asking about the MFTE. The way it works, and this is rental I’m referring to, 20% of the units are priced to be affordable to those making 80% of the area’s median income (or 90% for two bedrooms). In exchange for maintaining this 20% “affordable” developers receive a property tax exemption for 12 years. I’m not as familiar with the homeownership component of MFTE, but I believe it gives buyers that fall into slightly higher median income categories property tax exemptions for 8 years, allowing them to afford more (but, to your point, doesn’t incent developers to lower prices). I think MFTE is better for rental. To the larger point, though, it’s a small tool in what should be a larger toolbox to help provide affordable housing for both renters and homeowners.

]]> By: Matt the Engineer http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-1247 Matt the Engineer Wed, 06 Aug 2008 16:01:33 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-1247 Joshua, what are the developers doing that make these units "affordable"? Selling them for less? Unless they're smaller or lower quality than other units, this is just a windfall for the first buyers that show up - they certainly won't sell for under market value. Joshua, what are the developers doing that make these units “affordable”? Selling them for less? Unless they’re smaller or lower quality than other units, this is just a windfall for the first buyers that show up – they certainly won’t sell for under market value.

]]> By: Joshua http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-1246 Joshua Wed, 06 Aug 2008 15:37:57 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-1246 And, Dan: love the picture, and the irony. And, Dan: love the picture, and the irony.

]]> By: Joshua http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-1245 Joshua Wed, 06 Aug 2008 15:37:16 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-1245 Size is certainly a factor in affordable housing, but primarily for singles, or early couples. When you start raising a family, it becomes increasingly difficult to make that 500 sf condo work. And the downtown isn't built for families yet. I agree with Wes - the best way to make affordable housing happen is to incentivize it. They just passed a new MFTE program aimed at doing that, but it's limited. There are two major things the city could do to facilitate this: create a "fast track" zoning system, ideally performance based, that prioritizes certain types of projects. Allowing a developer to shave off 3-6 months from the entitlement process saves a lot of money and helps certain types of projects pencil. Second, grant TIF authority to cities and enable a more empowered public development authority that has the access to federal and state funds to enable this type of thing to happen. Actually, this last one is a state task, but unfortunately we have a speaker who refuses to even look at TIF legislation. I think he has good intentions, but the reality is that if we want to empower cities to fully shape their future, Chopp's gotta go. As an aside - I don't think anyone would argue that plastic bags are more important than housing. But waste is an issue, too, and passing that legislation is a good political step for a lot of reasons. Size is certainly a factor in affordable housing, but primarily for singles, or early couples. When you start raising a family, it becomes increasingly difficult to make that 500 sf condo work. And the downtown isn’t built for families yet.

I agree with Wes – the best way to make affordable housing happen is to incentivize it. They just passed a new MFTE program aimed at doing that, but it’s limited. There are two major things the city could do to facilitate this: create a “fast track” zoning system, ideally performance based, that prioritizes certain types of projects. Allowing a developer to shave off 3-6 months from the entitlement process saves a lot of money and helps certain types of projects pencil. Second, grant TIF authority to cities and enable a more empowered public development authority that has the access to federal and state funds to enable this type of thing to happen. Actually, this last one is a state task, but unfortunately we have a speaker who refuses to even look at TIF legislation. I think he has good intentions, but the reality is that if we want to empower cities to fully shape their future, Chopp’s gotta go.

As an aside – I don’t think anyone would argue that plastic bags are more important than housing. But waste is an issue, too, and passing that legislation is a good political step for a lot of reasons.

]]> By: wes http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-1244 wes Tue, 05 Aug 2008 20:10:50 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-1244 Amen Spencer and Matt. Very true Spencer, all smaller housing are not created equal. And unfortunately, developers have been way too keen on building condos starting at $500,000...starting?!?! Good thing is, the luxury condo market has been overbuilt and the rental market is on the ups. Housing markets are complex, and a good example is that I forgot another good way the City can influence housing prices: use incentives to keep all the follow-the-buck developers from mindlessly overbuilding the same market because it happens to be a good one at that moment. We could have been offering incentives to build midrise rentals instead of another brix, metropolitan, [insert creative modern urban buiding name here]. Thank you for waking me from another one of my oversimplifications. Amen Spencer and Matt.
Very true Spencer, all smaller housing are not created equal. And unfortunately, developers have been way too keen on building condos starting at $500,000…starting?!?! Good thing is, the luxury condo market has been overbuilt and the rental market is on the ups. Housing markets are complex, and a good example is that I forgot another good way the City can influence housing prices: use incentives to keep all the follow-the-buck developers from mindlessly overbuilding the same market because it happens to be a good one at that moment. We could have been offering incentives to build midrise rentals instead of another brix, metropolitan, [insert creative modern urban buiding name here]. Thank you for waking me from another one of my oversimplifications.

]]> By: dan bertolet http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-1243 dan bertolet Tue, 05 Aug 2008 07:01:47 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-1243 Are none of you going to comment on the Spirit of 76 Dodge Dart? Nothing about the irony of the all-American, bicentennial edition, red, white, and blue slant-6 classic in front of the red, white, and blue gas station selling gas at $4/gallon? Are none of you going to comment on the Spirit of 76 Dodge Dart? Nothing about the irony of the all-American, bicentennial edition, red, white, and blue slant-6 classic in front of the red, white, and blue gas station selling gas at $4/gallon?

]]> By: Matt the Engineer http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-1242 Matt the Engineer Mon, 04 Aug 2008 21:22:37 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-1242 Oops, I missed the third variable: number of stories. Oops, I missed the third variable: number of stories.

]]> By: Matt the Engineer http://hugeasscity.com/2008/08/03/lazy-and-uninspired/comment-page-1/#comment-1241 Matt the Engineer Mon, 04 Aug 2008 21:15:43 +0000 http://noisetank.com/hugeasscity/2008/08/03/lazy-and-uninspired/#comment-1241 //Smaller housing is one type of solution but I’m not convinced it is affordable.// Given a fixed location, you have exactly 2 variables to work with in order to change a location's affordability: size and cost of construction. There have been good debates about how to affect the cost of construction, but the size variable is one that people seem to have a hard time with. Why is size a big deal? Because if you have the choice of building a house or 10 condos on the same lot, the land value of the condos will each be 1/10 of that of the house. You just can't get that kind of value out of cutting corners on construction cost. //Smaller housing is one type of solution but I’m not convinced it is affordable.//

Given a fixed location, you have exactly 2 variables to work with in order to change a location’s affordability: size and cost of construction. There have been good debates about how to affect the cost of construction, but the size variable is one that people seem to have a hard time with.

Why is size a big deal? Because if you have the choice of building a house or 10 condos on the same lot, the land value of the condos will each be 1/10 of that of the house. You just can’t get that kind of value out of cutting corners on construction cost.

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