Reply to Bowser Spreads the Wealth opens homeless shelters in each DC ward

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[quote=Anonymous][quote=jsteele][quote=Anonymous][quote=jsteele][quote=Anonymous]By choosing to put the housing in expensive areas, she is choosing to pay twice what she would be paying in less expensive neighborhoods, therefore helping less people. It doesn't make sense at all. [/quote]

The Wisconsin Ave. location which I assume is in the area with the most expensive real estate does not appear to be the most expensive on a per unit basis. Here are some monthly rents I gathered from the leases. I guess there could be differences between units that account for some of the differences, so consider these to be pretty rough numbers:

Wisconsin Ave. NW: $3,500
25th Place NE: $3,404
Delaware Ave. SW: $3,750
808-810 5th St. NW: $37.00 per gross square foot
5505 5th St. NW: $2,240
10th St. NW: $2,212

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Jeff, I DK about the other sites but am banking that the WI Ave developer willing to go with wee bit less now in anticipation of circumventing the zoning restrictions and banking on big pay out with luxury condos[/quote]

That seems the most obvious play here. This lease is for 15 years and some of the others are for 30 years. They are building dormitory style units wth shared bathroom and kitchens. Perhaps the number of bathrooms and kitchens would be appropriate for condominium or apartments 15 years from now, or maybe the owner would need to tear down the building and start over. But, maybe call their bluff by demanding that this lease be for 30 or 50 years.

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Interesting idea, which would force their hand on disclosing more details of the arrangement and align more with the interests of public policy rather than those of some favored intermediary/partner.[/quote]

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