Reply to We need homes. A lot of homes. Not just affordable, but also middle-income homes.

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Reply to "We need homes. A lot of homes. Not just affordable, but also middle-income homes."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]^ Also, the more SFHs GGW knocks down, won't the remaining become that much more expensive and unobtainable? [/quote]

Knocking down SFHs will only drive people out of the City.  What makes DC unique is that it has multiple neighborhoods of SFHs.  And guess who pays the taxes-the owners of those homes.[/quote]

Last time I checked, 4 300k units in a rowhouse is cheaper than a single 2 million dollar rowhouse.

Wanna check my math?[/quote]

If you were a developer, would you build 4 units at 300k each or one at 2 million? Construction costs would be about the same, probably a little higher for the 4-unit configuration because you'd need more HVAC systems and appliances.[/quote]

If that’s true, why are people concerned about changes to zoning? You’re arguing the market will still favor SFHs. [/quote]

Probably because they don’t understand the business. To compensate for the risk premium of having to sell four units instead of one and the additional building costs, a developer would probably need to charge at least an average of $550,000 for each of the four units. (I’m not sure there is or will be in the next 10 years a mass market for these units at this price in neighborhoods where a new SFH can go for $2 million, because these units would be competing with mid- and high-rise rentals nearby and larger homes at a similar price not much further out. It’s a nice idea in theory and I would prefer a denser neighborhood with more services and retail within walking distance, but I’m not sure we’re going to see it at scale. Not a reason not to upzone, but upzoning alone is not going to increase housing deliveries by much.)[/quote]

Retail within walking distance would probably have to charge higher prices, than larger retail not too far away.[/quote]

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