StrangerThings wrote:I’m not even mad as a Cordish employee at all. I’m coming from a resident of One Light angle. I started off in income restricted apartments ten years ago and worked my way up to being able to afford a nicer place.
I’ve suggested turning the Midland office building into affordable housing. Makes the most sense.
I’ve never heard of “affordable luxury housing” and for good reason.
Congrats on working your way up, genuinely. That couldn't have been easy and I'm sure that, 10 years ago, you would have liked to have the opportunity to live in a building like One Light.
The problem with using the Midland as the way to offset 1/2/3 Light is that for decades we tried segregating affordable and low income units into a single building and it failed spectacularly. The lesson learned is that mixing market-rate and affordable is far better. The catch is that if you're only building 80/20, you need a lot more buildings to achieve the same number of units. Maybe that's unfair or inefficient, but it's rooted in very recent history. But you're in the business so you know this already. You probably also know that in larger cities with housing regulations, affordable units are routinely mixed into luxury buildings.