Re: [affordablecohousing] Mixing Low-Cost with Market Rate Housing
From: Brian Bartholomew (bartholomew.brianyahoo.com)
Date: Sun, 2 May 2021 23:15:02 -0700 (PDT)
 > How do you meet the needs of different people who have different
> size and quality standards ... and different levels of income and
> assets? But all want to live in community?
>
> One alternative would be to develop two "sister" developments that
> share common space - one side custom homes ... the other for people
> who want or must live at a low cost. Let each group do their thing
> - share costs of common space ... so you get a mini version of a
> bigger reality of a village or big city .... you got the business
> district, and the arts district .... everyone is happy and
> cooperates.
>
> You could get separate, or combined finance to develop .... may be
> economies of scall to get one big loan ... each section has its
> budget .... two phases together and you reduce closing costs - need
> only one of everything: closings, loan fees, surveys etc.

Tried that. Response was, 'I'm not going to pay [ordinary full
mortgage rate] to live next to a shipping container!' Which was
especially funny as half the group did service/nonprofit work, and
couldn't prudently afford an ordinary full mortgage rate. It wasn't
solvable by just hiding the view of the arts district.

Brian  

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