09-03-2021, 01:09 PM
(09-03-2021, 12:19 PM)WaterLouGehrig Wrote:(09-03-2021, 10:25 AM)ac3r Wrote: Spotted these NIMBY signs around downtown, just off one of the side streets near the library:
The "unlimited height" claim is rich. Worded that way, you'd think the developers are wanting to build a 68 floor skyscraper. I hope this gets built and these people don't manage to stop it. If I remember right, it was going to be rental units which are in desperate need, though maybe it's condos, I can't remember. Either way, we need more housing ASAP. These privilegey NIMBYs need to understand that. There's already two 18 floor towers right nearby as well, which are in fact even closer to the existing single family homes. 22 Weber West would be on a dumpy parking lot next to a church and some business. There would be no loss of heritage as their website claims.
Not challenging you, but don't most condos work as rentals as well? A building like this built specifically as a rental won't have cheaper rents. So it's one super-wealthy landlord versus a mix of owner-occupiers (which we also need) and some-what well off landlords? I would take the later
Actually no, condos do not work equally well as rentals. The problem with rental condos is that they don't provide the same housing stability as purpose built rentals. A renter living in a condo can be evicted if the owner wants to sell, or wants to live in their unit, but a purpose built building will probably remain a rental building for an indefinite period of time.
Also, while the "super-wealthy landlord" is a hot potato, I will say that a developer/property manager (like Drewlo) who is actually constructing housing is not reaping the benefits of others the same way an investor is.