May 11, 2011

Misconception--CDC's do not have the lowest rents

I often hear the arguement that we need CDC's to provide "work-force" housing or as we call it on the blog "no-lo" housing.  The misconception being the CDC's have the lowest rents that working people can afford could not be further from the truth.

Look no further then Southgate Place.  These will be the highest rents in the area by far!!! 

  • 1 bedroom        766 to 853 rent        30% to 60% AMI
  • 2 bedroom        932 to 1025 rent        30%, 50%  and 60% AMI
  • 3  bedroom       1,109 to 1,233          50  and 60% AMI
 A 3 bedroom at $1,200 per month!!!    These "workforce housing" are much more then the "market-rate" rents!!

4 comments:

Rich said...

What are CDCs? 2 years ago I was paying $485/month for a super crappy 1-bedroom by Indian Lake. Twice that for a decent apartment in a good location (not sure if this is the case in your example) doesn't seem out of line.

Bill Randell said...

Rich

My point is that these rents in this area are the higher then any other rents around here. Higher by alot!!


I am really not in tune with rents around Indian Lake.

Bill

Jahn said...

The problem is that we have to look at the term low rents or affordable housing (euphemism for subsized) from the perspective of what the tenant pays...which unfortunately artificially screws up the rental market

The only ones going into that neighborhood paying those kinds of total rents will be the likes of Section 8's where the tenant might pay $100 to $300 (very affordable to the tenant) of the total monthly rent and the gov't pays the balance of $900 to $1,000. Who else in their right mind would pay that amt of rent in that ghetto area when $1,200+ will get you a really nice 3 BR apt in a nice section of the city.

I am shocked to see what the subsidized rental organizations are paying for a 3BR apt in thsi market. I mean based on housing prices right now, id say rents s/b at about 2002 levels at the moment.

I am waiting to see when all teh OWNERS of the nice duplex units on Beacon St start walking away from them. You know the ones i mean. The low income home owners own the building for about 190k to 200k, but they lease the land from the fuedal Main South CDC Landlord.

I have called it the "trailer parking" of low income housing b/c this is how trailer parks operate...i.e. tenant owns the building/structure and rents the land from the fuedal landlord.

Rich nuttin' like water front rental for a mere 485$ mo. Did you know water front rentals are also available at May & Main Sts....however it more like $1,000 per mo. Google "Worcester Common Ground Piano Factory May St Sewerage" :)

Jahn said...

And speaking of CDCs, Nick 's column today (5-12) has me scratching my head. Main South CDC has one of their henchmen out working the Main South neighborhood passing out brouchures telling people how to report suspected prostitution activity. CC Haller is also involved.

Main South CDC would have us believe that the good residents of Main South do not know how to report suspected prostition activity? Surely they jest? The good folks of main south evidently do not know the numbers 911 ???

All I see from this is a few people vying for attention and Main South CDC looking for new ways to justify their existence.

Nick also mention the CC passed the Tabakki Control rules re pharamicies sellign tabakki. I was shocked to learn that it was high school kids who pushed for thsi ordinance the last few years.

Effectively what is happening here is the tax paying local pharmacies and tax paying Worcesterites who frequent those pharmacies for their cigs have now been trumped by a bunch of teen age kids who haven't reached the age of majority, do note vote, and do not pay real estate taxes. Who the hell is running this town? Clearly it isnt the disenfranchised tax payers who are paying the freight.

Lastly, is Crystal Park now officially known as University Park? If yes, evidently Clark U. has more name change clout than Fresolo. After the hi-jacking (can u say Jack Foley?) of Downing st., next Clark will want to take over University Park, which in substance they probably already have done. HC cant be too far behind in their quest to take over Caro St.