|Re: Affordability Specifics||<– Date –> <– Thread –>|
|From: Angela Alston (angeladallascohousing.org)|
|Date: Fri, 28 Dec 2012 14:48:07 -0800 (PST)|
From what I understand--my husband has a background in commercial real estate and construction--new construction is ALWAYS more expensive. That's why, to keep Dallas Cohousing affordable, we plan to retrofit an existing building. We have our eye on one, and are estimating that, units will cost $105-$120 / sq. foot, depending on size (the smaller, the higher cost per foot), after retrofit. Compare this to, in the same neighborhood, $160-$225 / sq. foot for new construction. best, Angela Angela Alston Dallas Cohousing http://dallascohousing.org 972 669 8798 On Dec 28, 2012, at 4:18 PM, Gloria Hoffman wrote: > > We are trying to build a community in a middle class urban area in > Philadelphia and have the goal that our cohousing units will cost no more > than the market rate for the older, more spacious houses in the area. Our > average unit size for is 1100 sq. ft., while the neighborhood houses are at > least 2200 sq. ft. > > We were hoping for prices in the $200 thousands for the smaller units, but > costs are in the $300 thousands. It seems that any new construction will be > way more expensive than existing house costs and that the only feasible > alternative is to renovate an existing building. > > We have had our eyes on a great site, but it would involve new construction! > > > > We have also been told that banks are currently not willing to lend money > for building condominium developments. > > > > Very discouraging news-but we still have hope!! > > We would appreciate any info on both of these issues. > > > > Thanks, > > Gloria Hoffman > > Wissahickon Village Cohousing > > hoffman1 [at] comcast.net > > _________________________________________________________________ > Cohousing-L mailing list -- Unsubscribe, archives and other info at: > http://www.cohousing.org/cohousing-L/ > >
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