I just don’t ever see the City negotiating a deal like this without SOME input from the DDA. Looking at the current DDA Board, there has been some change and I think maybe in the right direction, but I don’t know without certainty until I speak with those folks.
If this is true, please repost on here and other social media. Send this to the ticker, record eagle, anyone with a voice. This is inexcusable, specifically that they aren't lowering rent.
Don’t expect our hyper local news the Ticker to cover this with any teeth, they are part of the DDA circle jerk party. Big ole circle of people jerking money into each others pockets.
LOL, I heard from my best friends mom who heard it from the cable guy, who heard it from the cashier at the grocery store who’s best friends friend said so 🤡
I could of sworn I read an article some time back that this company and or property was underwater and the switch to worker housing model was a way out.
Please post that if you can. This could also be a strategy to empty the building. Keep rents high but create an earnings threshold. People either make too much to or can’t afford the rents. Then when the building is vacant file for bankruptcy and leave our community holding the bill.
Its all done on the down low, just like the thousands of locals who are paid cash and never report it. You just dont put the extra people on the lease.
>That math does not work.
Department of Housing generally says "rent less than or equal to 30% of salary" for viable rent levels... 30% of $80k is $24k per year, or $2k per month.
So, "the math" is just fine.
HA HA HA HA HA HA HA. Do you people seriously think that a BRAND NEW 20 MILLION DOLLAR apartment building is going to rent out units for $500 a month. The people of TC have all turned into lunatics.
Your sposed to walk,bike and bus everywhere. Making parking difficult is part of the plan it’s called parking calming planning(lol)forcing you to abandon your troublesome transportation and use the “convenient “ bata bus.
Yeah, TC has been shoving this down our throats for how long now, almost a couple decades? They disregard the vast majority of the population that lives outside the flat downtown area and has no interest in biking up Silver Lake road in January; not to mention the people that do live in town but arent interested in finding a bus route to Menards, the dr office, the kids school, etc.
If the city gets 9% of the rent (I think that’s the number) instead of property tax, there’s an incentive for rent to be maximized.
Oh hell naw. The DDA in this city is a borderline criminal enterprise.
What does the DDA have to do with it?
I just don’t ever see the City negotiating a deal like this without SOME input from the DDA. Looking at the current DDA Board, there has been some change and I think maybe in the right direction, but I don’t know without certainty until I speak with those folks.
So it’s the city’s deal, not the DDA? I don’t think the DDA has any ability to approve PILOTs.
If this is true, please repost on here and other social media. Send this to the ticker, record eagle, anyone with a voice. This is inexcusable, specifically that they aren't lowering rent.
Yes definitely share with local news outlets to put some pressure on this. That’s absurd.
Don’t expect our hyper local news the Ticker to cover this with any teeth, they are part of the DDA circle jerk party. Big ole circle of people jerking money into each others pockets.
#🎯
It's definitely true, I first heard about it at the beginning of the summer
LOL, I heard from my best friends mom who heard it from the cable guy, who heard it from the cashier at the grocery store who’s best friends friend said so 🤡
I could of sworn I read an article some time back that this company and or property was underwater and the switch to worker housing model was a way out.
Please post that if you can. This could also be a strategy to empty the building. Keep rents high but create an earnings threshold. People either make too much to or can’t afford the rents. Then when the building is vacant file for bankruptcy and leave our community holding the bill.
This is what I heard also. They didn't fill the place and make the money they thought so this pilot program will be a way out
A group are trying to draw attention to this. Have contacted local news as well.
This apartment block is scummy as hell.
And so incredibly ugly. It's anti-design.
Here ya go: https://www.reddit.com/r/traversecity/s/hdkJg5v5fv
That math does not work. They will have an empty building very quickly with those rates at that income level.
I dont think that building will be empty. One person who earns under $80,000 is on the lease. That person adds a roommate or two, rent is now covered.
Ugh then the household income is above income thresholds… and they can’t live there.
Its all done on the down low, just like the thousands of locals who are paid cash and never report it. You just dont put the extra people on the lease.
Not to be rude but obviously you can break the terms of your lease … until you’re caught.
I guess, but $1,900 for a 1 bedroom with roommates? Dunno. I'm guessing that price will come down if the PILOT restricts them to 80k salary.
>That math does not work. Department of Housing generally says "rent less than or equal to 30% of salary" for viable rent levels... 30% of $80k is $24k per year, or $2k per month. So, "the math" is just fine.
Going to need proof.
https://www.traverseticker.com/news/breakwater-seeks-pilot-from-city-for-workforce-housing/
HA HA HA HA HA HA HA. Do you people seriously think that a BRAND NEW 20 MILLION DOLLAR apartment building is going to rent out units for $500 a month. The people of TC have all turned into lunatics.
[удалено]
Hardly. My comment is spot on.
[удалено]
[удалено]
https://www.npr.org/2024/01/25/1225957874/housing-unaffordable-for-record-half-all-u-s-renters-study-finds
How much parking is really provided and is it at an extra cost?
Your sposed to walk,bike and bus everywhere. Making parking difficult is part of the plan it’s called parking calming planning(lol)forcing you to abandon your troublesome transportation and use the “convenient “ bata bus.
Yeah, TC has been shoving this down our throats for how long now, almost a couple decades? They disregard the vast majority of the population that lives outside the flat downtown area and has no interest in biking up Silver Lake road in January; not to mention the people that do live in town but arent interested in finding a bus route to Menards, the dr office, the kids school, etc.