More affordable housing news in Sarasota
The Sarasota Herald Tribune reported an article this morning titled, "Affordable housing plan ignites passions". A town size affordable housing project east of I-75 is coming up for approval next month. The 1,488 home project named Palmer Place appears the be the biggest in the state of Florida.
People against the plan says it puts too many homes on too little land and are also complaining about the developer deciding to put a gate up to seperate the neighborhood containing the affordable housing with the more expensive neighborhood.
Let me preface everything I say with all I know is what I have read in the newspaper.
Give me a break. I can understand the argument about too many homes on too little land because of infrastructure problems but the gate argument is rediculous. They are using the word "segregation" to describe the seperation between the communities. I doubt too many of the affordable home purchasers are going to care too much about the seperation. Especially since the the homes will have to sell for less than $153,864.
The more expensive homes which will be seperated from the affordable neighborhood by a 4 lane road, wall and gates will priced from $400,000 - $800,000. Again, I don't know the details but I would that bet the developer would not be able to make this project work without the sale of the more expensive homes. It is probably the difference between a profitable project and unprofitable one.
In order for the "ritzier" homes to sell for significantly more money there has to be value created over and above the affordable housing. A home's value is mostly determined by the location and neighborhood it sits in. Since the locations of the two communties are basically the same there has to be value created in order to achieve the higher sales price. Otherwise, the buyers won't perceive value and won't purchase the homes. The developer can create this value with larger lots, larger homes, gates, more amenities, etc. It is basic economics. The project won't work without the sale of the homes with higher profit margins.
Even if a developer came up with a plan to put affordable housing on Siesta Key beach these opponents would probably complain about how the affordable condos don't have the same water and beach view as the "ritzier" condos.
I am all for affordable housing and am certainly not an expert on the subject. Unless you use public funds to build affordable housing a developer will only do it if there is a profit to be made.
People against the plan says it puts too many homes on too little land and are also complaining about the developer deciding to put a gate up to seperate the neighborhood containing the affordable housing with the more expensive neighborhood.
Let me preface everything I say with all I know is what I have read in the newspaper.
Give me a break. I can understand the argument about too many homes on too little land because of infrastructure problems but the gate argument is rediculous. They are using the word "segregation" to describe the seperation between the communities. I doubt too many of the affordable home purchasers are going to care too much about the seperation. Especially since the the homes will have to sell for less than $153,864.
The more expensive homes which will be seperated from the affordable neighborhood by a 4 lane road, wall and gates will priced from $400,000 - $800,000. Again, I don't know the details but I would that bet the developer would not be able to make this project work without the sale of the more expensive homes. It is probably the difference between a profitable project and unprofitable one.
In order for the "ritzier" homes to sell for significantly more money there has to be value created over and above the affordable housing. A home's value is mostly determined by the location and neighborhood it sits in. Since the locations of the two communties are basically the same there has to be value created in order to achieve the higher sales price. Otherwise, the buyers won't perceive value and won't purchase the homes. The developer can create this value with larger lots, larger homes, gates, more amenities, etc. It is basic economics. The project won't work without the sale of the homes with higher profit margins.
Even if a developer came up with a plan to put affordable housing on Siesta Key beach these opponents would probably complain about how the affordable condos don't have the same water and beach view as the "ritzier" condos.
I am all for affordable housing and am certainly not an expert on the subject. Unless you use public funds to build affordable housing a developer will only do it if there is a profit to be made.
Labels: Sarasota real estate news
posted by Marc Rasmussen at
8:05 AM
2 Comments:
Marc,
As the number of homes for sale on the local market increases (as has occurred in just the last 2 weeks), are you able to adjust the number of properties that populate in your Google map up to say, 175 instead of 150 ?
Otherwise, when someone is searching for a 2/1 in Central Sarasota between the prices of $150,000 -200,000, they won't be able to view them because the current number is over 150 properties.
The number of 3/2 properties in the $150,000 - $200,00 range in Central Sarasota region has gone up from 48 to 57 in the past 7-10 days.
Can you change the settings or do they come pre-loaded ?
I'll talk to my web guys Todd. The problem with having so many properties populate on the map is that the load times can get very long.
You might try the map search on my new website - http://www.luxurysarasotarealestate.com/idx/map/
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