Reply to Arlington "missing middle"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think the title is supposed to be "Boomers and Real Estate Developers plan to ruin Arlington"

"Missing Middle: in ARL you need 1.5 for an MM unit"[/quote]

It’s boomers who seem to be most against missing middle.

What costs more: a $500,000 condo in a six plex, or a fancy new $2,000,000 Mcmansion?[/quote]
I am fascinated that you think this is how it’s going to play out. What do you think that $2m house is going to be worth once it is upzoned? You think current property owners are going to leave money on the table and hand it over to developers to profit? [/quote]

Somewhere between $2.05m to $2.1m. Because it makes no sense for developers to bid each other up when there are so many other lots they could buy instead.[/quote]

NP here. I have a nicely renovated (within the past 3 years) 4 BR/ 3 BA home in N Arlington. Based on comps I’m guessing it is worth around $1.2. Of that about 800-900k is land value. If a development can now built 3 THs on my lot, I’m guessing the land value will go up at least somewhat. So I would now expect to sell my home for, let’s say $1.4-1.5 in coming years. The new homes will therefore also be worth more. [/quote]

That last part doesn’t follow because any new missing middle homes on the property will, also, be based on comps. Even a new 1,600 square foot townhouse ain’t getting $1.4 m.[/quote]
That’s exactly the price of a new build TH. [/quote]

It’s the price of a four-story 3,000 square foot townhouse.  Ot a three-story townhome that’s half to two-thirds the size.[/quote]
First off,  that’s an exaggeration. Second, there is nothing that stops builders from going smaller. The build what they do because that’s what the market wants. [/quote]

PP here. A typo may have obscured my point that the giant townhouses we see getting built right now wouldn’t fit within the envelope required for missing middle. They’d need to be shorter and smaller overall. And therefore cheaper.[/quote]

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