|Re: apartment conversion to cohousing||<– Date –> <– Thread –>|
|From: sga1 (sga1humboldt.edu)|
|Date: Tue, 15 Nov 2005 08:32:30 -0800 (PST)|
Hi Mary Anne, Although we have not yet converted apartments to cohousing, I and my cohousing partner are in the process. The residents have been invited to the cohousing community meetings--a couple have expressed interest but not shown up. My thinking on this topic is this: in our area real estate prices are being driven through the roof by investment purchases, people buying houses to rent them, save them for retirement, etc. There has been a large scale conversion of housing from purchasable to rentable. Although some of the residents at our condo project may like renting the residences and wish that they weren't going to be sold, this is the ONLY case in all of Humboldt County where a rental development is becoming an owner-occupied development; the renters have an unprecendented number of rentals they can to move to, while the working poor of our area have nothing in their price range they can buy besides the condos we are creating. If we were selling our condos for exhorbitant prices or were being exclusive, I can see why some class conscious people (like myself) would have cause to protest. Instead, we are selling the condos at prices for so little ($120-160K)that any renter with even a tiny amount of equity or a middling to poor credit rating can get a mortgage. Which is the long way of saying that it sucks to force people to move, but it shouldn't be such a powerful disinsentive that you abandon or compromise the project. If your region lacks affordable rentals, then maybe you should consider keeping a few of the units available to renters who are both on limited income and wish to participate in the community. If your community is awash in rentals like my own, you can trust that the current tenants will land on their feet and feel proud about converting anonymous apartments to a community home. Yours in community, Sean Armstrong
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