low cost housing | <– Date –> <– Thread –> |
From: Harriet Lewis (hlewissonic.net) | |
Date: Sat, 15 Jul 2006 16:04:33 -0700 (PDT) |
Consider the concept of limited equity housing. That is how Santa
Rosa Creek Commons in Santa Rosa, California, was built. Residents
buy a share of the whole property when they join the coop and when
they leave they sell their share back to the coop for the same price
they paid plus a little extra for inflation. Residents have accepted
the idea that they will not be making money in the real estate
market. In exchange , they have inexpensive housing. We also have
10 units which have state assistance . The residents of these units
also buy a share (less than the non assisted) and then pay 25% of
their income for a monthly carrying charge with the state picking up
the difference between what they pay and the actual costs. We will
be 25 years old next year and we are still holding our monthly
carrying charges to less than half of the rental market value. We do
get a home owners tax deduction from our mortgage and we are self
managed. I have no idea if this can still be done but it worked for us.
Harriet Lewis, Santa Rosa Creek Commons (27 apartment units)
-
low cost housing Harriet Lewis, July 15 2006
- Re: Low cost housing David Heimann, May 16 2008
-
low cost housing Kathy Buck, May 18 2008
- Re: low cost housing Marganne, May 18 2008
- Re: low cost housing Fred H Olson, May 19 2008
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