user182190210
user182190210 t1_ixduewk wrote
Reply to comment by Head_Acanthisitta256 in After ‘exhaustive negotiations,’ Won supports $2 billion Innovation QNS project in Astoria by 09-24-11
That’s the opposite of how it works. The luxury apartments increase supply which help keep lower rents stable or decrease price.
Your second point, fair enough we’ll just have to see
user182190210 t1_ixdcu37 wrote
Reply to comment by KaiDaiz in After ‘exhaustive negotiations,’ Won supports $2 billion Innovation QNS project in Astoria by 09-24-11
This 55% to 43% argument is wrong in the bigger picture. The total units went from 2800 to 3200, affordable went from 1100 to 1400. So because total number increased so did total number of affordable, even if that as a % of the whole went down.
user182190210 t1_ixdw8kb wrote
Reply to comment by Head_Acanthisitta256 in After ‘exhaustive negotiations,’ Won supports $2 billion Innovation QNS project in Astoria by 09-24-11
Cities are expanding and prices going up, with lower SES residents driven out regardless of this.
I think we both agree that this is not ideal and everyone knows what actually needs to happen for housing to stabilize and be reasonable. This isn’t that and between all the politics and profit incentive I doubt we will get much of that.
I do think this helps by increasing supply especially with 1400 affordable units. But if you disagree that’s okay, I don’t know everything about this and honestly it may turn out to be wrong.