Good srticke in washington post
A good idea. Much better than pure eviction moratorium which hurts landlords.
This article points out an analysis that those of us in the field already knew; Opportunity Zones Don’t Work. This program initiated by the Trump Administration provided deferral of capital gains taxes for businesses investing in underserved areas. Research has shown the investments were only made for projects which would have been built anyway. The Biden Administration is trying to change it which is a good idea. Written by Paul Dribin
The proposal from President Biden includes substantial funding for affordable housing. These funds include funds for weatherization, energy efficiency, and public housing improvements. This is certainly a welcome development. Paul Dribin
As this article from the Post explains, the developer and the Hubbard family have parted ways. McCormack Baron has always bought off black politicians and tenant groups. This time things did not work out. I had worked for years on the prior iteration of this project to no success. There are simply too many units in too poor of a location. McCormack Baron is usually treated in the press as saints. Not true. Written by Paul Dribin
Affordable and market rate units plus commercial
This is a good use of funds. People who lost jobs could end up homeless
McCormack/Barron/Salazar has been attempting to demolish portions of this existing project formerly known as Ofallon Place for some time. The project which is large, about 550 units will consist of some demolition, reconstruction, and rehabilitation. For some reason, Alderman Hubbard has been trying to hold the project up. I am not always a fan of McCormack etc. but this project is desperately needed to replace an obsolete, overcrowded facility. The Alderman’s action smack of wanting a handout or bribe. What is most weird is that her family control the tenant group at the project. Written by Paul Dribin