Reply to Marc Elrich doesn’t think there “is demand for market housing.” He’s never going to fix our housing.

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Reply to "Marc Elrich doesn’t think there “is demand for market housing.” He’s never going to fix our housing."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]

Thrive people are so tiresome. Those numbers came from market values (for recently sold SFH) and assessed values for land only in those neighborhoods, so the latter are low. But, again, where can you get an acre of land for $1 million? Stonebridge paid $31 million for less than acre on East West a few years ago. Some of us here invest in these projects, so the numbers are pretty close at hand.[/quote]

Terrific. Now, where do the numbers come from for two-unit vs one-unit replacement buildings on properties where previously only one-unit replacement buildings were allowed? From nowhere, because currently there is no such thing in Montgomery County. Which is why you have to make them up.[/quote]

I assume you’re talking about estimated sales prices now. You can get in the neighborhood by using $/SqFt for MF in the same area as a reference point and then adjust up or down based on whether you think your product will be more or less attractive to buyers than what already exists in the market. That’s exactly the process investors go through when they’re considering how to use land and whether to put a new product in the market. How else do you think it will work once areas are upzoned? Because once the law changes, those buildings still won’t exist. Investors will have to estimate until there are better comparable. [/quote]

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