New Affordable Housing seem to popping up more and more in the area

[im not you]

Has anyone else noticed this?

The Residences at Georgia Ave (aka 4100 Georgia)

400 M St.

and that new building they just finished next to Potomac Yard Shopping Center is also an affordable housing unit.

Brand new housing units with pretty modern exteriors and decent quality interiors (obviously you aren't getting stained steel appliances). All either 1 or2 BR's with rents around $900 and up. Income restrictions as well.

I never thought I'd see this in the area.

 

[shoedinidc]

People gotta live somewhere...

 

[solewoman]

good i need to move anyways

 

[buddha with blazers]

Its becuz the condo market fell and they can't sit vacant until the market comes back around. but believe once it comes back the renter will be pushed out

 

[realstar1]

Sometimes developers build a certain amount of affordable units to be able to get incentives or concessions from the state/county government. They will build10% of the units affordable and the other units will be market rate.

Also, what's classified as affordable isn't always so affordable. Budda made a point that many builders are falling back on plan b and rentingproperties they had planned on selling.

 

[egaroc1]

im just bought a crib in silver springs for 200,000 that sold for 400,000 in 2003.
thats whats ups!

 

[eb4president]

Originally Posted by Realstar1

Sometimes developers build a certain amount of affordable units to be able to get incentives or concessions from the state/county government. They will build 10% of the units affordable and the other units will be market rate.

This.

If you call a lot of places and just do some research u can get an affordable housing unit in a building where everyone else is paying 1600 u might only paylike 900.