mixing affordable and market rate units
From: james f. palmer (zooeymailbox.syr.edu)
Date: Sun, 27 Mar 2005 16:09:48 -0800 (PST)
Hi again,

My name is Jim Palmer, and I am with the Burlington Cohousing group that is in the process of planning a 32 unit project in town. I asked for advice about member by-laws a month or two ago and received some useful feedback, so I thought I would pass our next conundrum by you all.

Half of our units will be perpetually affordable (in return for a construction subsidy, there are limits on buyer's income and profit sellers can make). The other half of the units will be sold at market value, and we are debating whether to place deed restrictions on how much their price can increase too.

First, I am asking whether any of you have experience with mixing affordable and market units, and how you have handled it.

Second, I am interested in any empirical reviews of how the value of co-housing units changes relative to their real estate comparables. While I am particularly interested in cases that are mixing affordable and market units, I would like to learn about any market studies. I have heard lots of people say that co-housing holds its value better than other developments, but I have not seen any researched figures.

Thanks,

Jim Palmer
Essex Junction, Vermont

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