Anonymous wrote:A developer had submitted plans years ago to redevelop that area but eventually dropped them all together.
Same rounds of surveys, community meetings, protests, feedback, etc all done at that time as well
I tend to think the same will happen. A developer will submit plans and nothing. I think initially developers believe they are going to make back their money. That they are going to find some way to make it profitable. Then the realization once they start sending out actual people to survey the area and realize they are not going to be able to attract market rate renters or get retail spaces filled, they just drop the plans. The big issues is that the apartment complexes on the other side of the street where they are not aiming this plan, will still exist an the people living there will be the core demographic shopping in the retail. The retailers aren't going to pay to locate in an area with a demographic that doesn't shop or can't afford to shop in the in their business.
They should replace the dumpy looking low income housing building the City maintains and maybe some of the smaller park improvements and then let go of the redevelopment fantasy. The people who live in that area seem fine with the way things are and the shops and restaurants seem to get plenty of business so just let it be.
I’m not sure if 40-50% AMI is neighborhood, city or region wide. Neighborhood in that area would make it unviable because paying less than half market rate is unviable. Agreed retail is dependent on neighborhood income.
Anyone opposing building elsewhere, but not here is a hypocrite. But most YIMBYs and people who through around “equity” are hypocrites or outright racist. They don’t want outsiders anymore than anyone else. They certainly don’t send their kids to the same family schools. City that is over 80% Democrat and yet only 60% of the children attend ACPS.