Cohousing-L Mailing List: Re: Re: the microflat as a module in affordable inner urban design

[Sharon Villines (sharon]

on 7/14/2002 7:53 AM, Hans Tilstra at tilstra [at] smartchat.net.au wrote:

> Here's a weblink to what seems like a clever inner urban modular design:
> http://www.themicroflatcompany.com/HTML/main_fset.htm

There are many of this size apartment in Manhattan in several different
floor plans. They were built pre-war. They are often very nicely designed
and in the last 25 years have varied from $50,000 to $100,000. Many of them
are very lovely with fireplaces and Murphy beds.

The problem is that banks do not want to give mortgages on them because the
market for them is very low unless they are in the very best buildings. Real
estate brokers don't want to handle them because the price is too low and
the irritations of finding buyers with that much cash is too much bother.

This is really a circular problem since if banks would give mortgages on
them, there are lots of young singles who would buy them.

BUT they also rent for $1600 a month so why sell them?

But for cohousing, including a few of these units would be wonderful for
young people to be able to join communities without living in group houses.

Sharon
-- 
Sharon Villines
Takoma Village Cohousing, Washington DC
http://www.takomavillage.org


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