On Thu, 24 January 2002, mel wrote: Mel's reply. > <<Example: go to www pnn.org and view Collaborative Village at > <<Elliot/Franklin 2 Storefronts with 20 Apartments adjacent and above. > <<Cost $5,500,000 divided by 22 units equals a cost of $250,000 a unit. > <<I hope this will get someone's attention.
It has a lot of people's attention, but it's not accurate or useful to compare an unidentified private market rate apartment construction cost with a specific nonprofit family supportive housing construction project. Financing issues are different, with major issues being how the developer's fee or management fees are factored in (in many private investments, there is a management fee built in, to take affect after the construction, so the upfront cost appears less), and, in this case of CVI, there is the cost of services that would go in with the project, increasing the "per-unit" cost overall, plus there are 4-5 bedroom units being built in this 20 unit project. So, while I don't have numbers in this case, I challenge folks to get real numbers that compare, then let's have a discussion about fairness or alleged bad government spending (and, while we're at it, let's get the County numbers on sheltering a family of five in a homeless shelter--a cost that would be saved by providing housing). Gregory Luce N. Phillips (work) North Phillips Press is a publication of Project 504, a housing related neighborhood organization based in the Phillips neighborhood. _______________________________________ Minneapolis Issues Forum - A Civil City Civic Discussion - Mn E-Democracy Post messages to: [EMAIL PROTECTED] Subscribe, Unsubscribe, Digest option, and more: http://e-democracy.org/mpls
