Victoria and Park | 25, 36, 38 fl | Proposed

[jeffster]

[align=left]Based on the going rate to develop affordable housing units, $2 million wasn't going to go far anyways (and might only represent the gross sale price of 2-3 units sold in this development).  I would be more upset if the original proposal had promised 200 affordable housing units on site (out of the proposed 1,124) and that number was going to be reduced.  

$2 million doesn't got far at all, but it's a lot better than $0.

As for putting 200 (about 18%) into a project like this, that would never happen. I think something like that would diminish the other units value.

However, adding 1,124 units to the market, should have a bit of an impact on overall housing cost in this region. It just won't be a huge amount.