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Affordable Housing Development Proposed at Long & Front Downtown

Home Forums General Columbus Discussion Development Affordable Housing Development Proposed at Long & Front Downtown

This topic contains 31 replies, has 20 voices, and was last updated by _calebross _calebross 3 years, 3 months ago.

Viewing 15 posts - 1 through 15 (of 32 total)
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  • #1007142

    News
    Participant

    Proposal for Front and Long Would Add Affordable Housing Downtown
    April 11, 2014 12:51 pm – Brent Warren

    A collection of buildings at the southeast corner of Front and Long Streets Downtown is being considered for redevelopment as workforce housing; about 40 units of affordable apartments would sit on top of street-level retail. The project, along with another potential development on the South Side, would be the first under the city’s new Housing Works program, which Mayor Michael Coleman first announced at this year’s State of the City address.

    READ MORE: https://www.columbusunderground.com/proposal-for-front-and-long-would-add-affordable-housing-downtown-bw1

    #1007197
    jbaker544
    jbaker544
    Participant

    thank goodness, finally something being discussed about the block of high/long and high/gay. The only issue is what does “affordable housing” mean and what types of individuals will that attract. Will this be HUD housing?, if so forget it, I rather have an abandoned building.

    #1007199

    InnerCore
    Participant

    thank goodness, finally something being discussed about the block of high/long and high/gay. The only issue is what does “affordable housing” mean and what types of individuals will that attract. Will this be HUD housing?, if so forget it, I rather have an abandoned building.

    HUD (U.S. Department of Housing and Urban Development) has a lot of programs from section 8 up to FHA backed loans. So there are plenty of people living in $300k suburban homes that live in “HUD housing”.

    And the fact that you’d rather a building be abandoned instead of attracting the “types of individuals” you don’t like speak volumes.

    #1007202
    Caleb
    Caleb
    Participant

    thank goodness, finally something being discussed about the block of high/long and high/gay. The only issue is what does “affordable housing” mean and what types of individuals will that attract. Will this be HUD housing?, if so forget it, I rather have an abandoned building.

    Yeah, not the tone or mentality we should be holding about affordable housing.

    #1007203

    tonloc620
    Participant

    This will not be HUD housing, did the article mention anything about HUD? if you read the article you would have read that this is a city program that provides funds to the developer to bridge the gap to allow for those making between 80% and 120% of the area median income to rent, which comes to be between $38,000 and $58,000 a year. How many of you make more than that.

    #1007849

    DLDude
    Participant

    Most new builds anywhere near downtown are coming in around $1000/1bdrm or $14-$1600/2bdrm. I’d be very surprised if this was any different. In my opinion, not an ‘affordable’ option. To my affordable is $700/mo or less and I fit right into that median range.

    #1007882
    Walker Evans
    Walker Evans
    Keymaster

    Most new builds anywhere near downtown are coming in around $1000/1bdrm or $14-$1600/2bdrm. I’d be very surprised if this was any different. In my opinion, not an ‘affordable’ option. To my affordable is $700/mo or less and I fit right into that median range.

    A lot of the product in/around Downtown is also being built to a condo-quality standard with developers planning to convert to for-sale units whenever the market demand returns. So they’re rented as “luxury” apartments and they charge a premium pricepoint.

    This new development sounds like it will contain smaller units (“microapartments”) which means they can charge less per month for a smaller space. $1000/mo is what you might need to pay to get a luxury 800sqft 1-bedroom, but I can’t imagine these affordable units being priced $1000/mo for a 400sqft 1-bedroom that doesn’t have high-end finishes.

    #1007918

    InnerCore
    Participant

    Most new builds anywhere near downtown are coming in around $1000/1bdrm or $14-$1600/2bdrm. I’d be very surprised if this was any different. In my opinion, not an ‘affordable’ option. To my affordable is $700/mo or less and I fit right into that median range.

    I think you’re numbers are a bit off. Most of the 1 bedrooms are in the $1,100 to $1,300 range. So let’s say you are a young professional making 80% of the AMI at $38k. The rent limit would be $950 (30% of gross income). If you’re making that kind of money $950 rent as compared to $1,100 or $1,300 rent is significant.

    Now if you’re single, looking for a one bedroom and you make $58k then at that point you can afford $1450 or basically any 1 bedroom you want. But why would you be trying to help a single person making that much.

    Now lets look at if if you household is bigger. 80% of the AMI for a two person household is $43k. So let’s say you have a single mom making $40k. The maximum rent on her should be about $1,075. So there is no way she would be able to afford any of the newer 2 bedroom as they would be $500 over her budget. And since they’re aren’t any older 2 bedroom she’s basically locked out of the area.

    #1007926

    InnerCore
    Participant

    This new development sounds like it will contain smaller units (“microapartments”) which means they can charge less per month for a smaller space. $1000/mo is what you might need to pay to get a luxury 800sqft 1-bedroom, but I can’t imagine these affordable units being priced $1000/mo for a 400sqft 1-bedroom that doesn’t have high-end finishes.

    Just curious where are you getting the info that they will be micro apartments. Micro apartments don’t work in a market like Columbus where the land isn’t expensive and we’ve got endless room to build. The difference in cost to build a 400 sf unit compared to a 700 sf unit is minimal because the bulk of the money is in the kitchen, bathroom, hvac, etc. which isn’t really reduced that much for the small unit. It works in places like NY and Sf where you’re already built out which drives land prices through the roof. Since you cant build out much more you have to then put more people in the same space which means smaller units.

    #1007990
    Walker Evans
    Walker Evans
    Keymaster

    Just curious where are you getting the info that they will be micro apartments.

    Uh… from the article…

    DeHays said that project would feature a mix of one-bedroom, studio, and “micro-apartments.”

    HERE: https://www.columbusunderground.com/proposal-for-front-and-long-would-add-affordable-housing-downtown-bw1

    #1008125

    DLDude
    Participant

    I guess I look more at price per sqft. a $600/mo studio at 400ftsq is more expensive than an 800 at $1000. A studio is already a small place to live, just because you cant charge as much for a tiny space doesn’t mean it’s inexpensive.

    I think you’re numbers are a bit off. Most of the 1 bedrooms are in the $1,100 to $1,300 range. So let’s say you are a young professional making 80% of the AMI at $38k. The rent limit would be $950 (30% of gross income). If you’re making that kind of money $950 rent as compared to $1,100 or $1,300 rent is significant.

    I’m not sure this is correct. I believe it’s 30% takehome pay. Let’s say that’s about $28k. Your $1100 apartment is 50% of the takehome. That’s WAY too high. you’re going to need rent to be $665 to match your 30%.

    Even at $58k, your high end is $1015. This is all assuming your TOTAL tax paid (city, state, fed) is 30% of gross which seems to be my experience. This also doesn’t include water/gas/electric.

    #1018366

    austinstowemission
    Participant

    “The project, along with another potential development on the South Side, would be the first under the city’s new Housing Works program, which Mayor Michael Coleman first announced at this year’s State of the City address.”

    Any new info on the South Side project coming in the near future?

    #1018414

    Urban Dansigner
    Participant

    li;lil

    #1063891

    News
    Participant

    More Details Emerge on Downtown “Micro Living” Developments
    February 18, 2015 7:00 am – Walker Evans

    Developer Brad DeHays of Connect Realty is one of the private developer partners in this initiative, and he says that his renovated buildings at Long & Front will contain 34 micro apartments, similar in size and structure to a 52-unit apartment development his company is working on over at the Stoddard Block at 260 South Fourth Street.

    READ MORE: https://www.columbusunderground.com/more-details-emerge-on-downtown-micro-living-developments

    #1063900

    JohnRClem
    Participant

    As someone who is used to living in hotels while traveling during the week this actually sounds like the perfect amount of space for me right now.

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