Cohousing-L Mailing List: Re: making cohousing affordable

[Shane Strano (shaneclairestrano]

Hey Sophie, 

I can't argue with these points, thank you for adding this perspective! 

> Anything you build new in any jurisdiction in the US right
> now will *not* be competitive against existing units.

This is the one part I don't think I'm grasping. What do you mean here? 


Sent from my iPhone

> On Jan 30, 2025, at 4:05 PM, Sophie Rubin <yophiest [at] gmail.com> wrote:
> 
> Buying existing buildings is a great idea but beware:
> 
> 1) the price of existing multi family has *nothing* and I mean *nothing* to
> do with current construction prices!! It has to do with income generated by
> the property. Anything you build new in any jurisdiction in the US right
> now will *not* be competitive against existing units.
> 
> 2) tenants’ rights. I suspect this is why we have not yet seen many
> existing buildings purchased for cohousing: communitarians either cannot or
> will not evict current residents.  At best, this slows down the cohousing
> “development” process to the speed of natural turnover.
> 
> It does seem to me like a more viable option for forming communities now,
> understanding how long and how difficult new, purpose-built development is.
> 
>> On Thu, Jan 30, 2025 at 12:50 Katie Henry <katie-henry [at] att.net> wrote:
>> 
>> Shane Strano wrote:
>>> I'm part of NJ CoHousing ...
>> After surviving the development and construction of a cohousing community
>> in an inexpensive suburban area with few regulatory or neighborhood
>> obstacles, the prospect of building in urban New Jersey sounds daunting to
>> me. Have you considered buying an existing apartment building? Something to
>> think about. Below are some random listings from LoopNet.
>> 
>> The listings might provide clues about the cost of new construction in the
>> area. There aren't a lot of ways to significantly reduce those costs.
>> 
>> https://www.loopnet.com/Listing/9-11-Clark-St-Newark-NJ/34123353/
>> 
>> https://www.loopnet.com/Listing/30-32-McAdoo-ave-Jersey-City-NJ/34550958/
>> 
>> https://www.loopnet.com/Listing/70-Central-Ave-Jersey-City-NJ/34550966/
>> 
>> https://www.loopnet.com/Listing/333-Newark-Ave-Jersey-City-NJ/27528386/
>> 
>> https://www.loopnet.com/Listing/536-540-Central-Ave-Newark-NJ/30900638/
>> 
>> https://www.loopnet.com/Listing/15-19-Stone-Street-st-Newark-NJ/32188563/
>> 
>> Katie HenryHeartwood Commons - TulsaTulsa, Oklahoma
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