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sexi_squidward t1_jef8zks wrote

I'd be happy if the apartments were affordable but we all know each one bedroom apartment is going to go for like $2000.


_Celine_Dijon t1_jefgdqu wrote

Try $2800


sexi_squidward t1_jefiycu wrote

Even better :/

The rent, where I live, went up almost $800. $1265 to $2010.


RoughRhinos t1_jeg4p92 wrote

Wow that's a big jump. What neighborhood? I know DC put in laws that the rent could only go up like 6% a year.


sexi_squidward t1_jegg2sk wrote

Mantua - it's not a bad neighborhood but it's definitely not a $2000 neighborhood.


ColdJay64 OP t1_jefqnom wrote

It's a brand new high-rise in Rittenhouse Square. Why would the apartments be below $2000? There are endless apartments far cheaper than that in the neighborhood and all over the city. The absolute nicest housing in the third most populated downtown in the country just isn't going to be super cheap - and there's no reason it should be.


hguess_printing t1_jefz4rx wrote

It was noted in another comment that it would bring young people to the area to eat and shop, and I chuckled bc I don’t know 1000 “young” people that could afford a 2k rental right now, especially alone. It feels a little tone deaf to everybody who are struggling to find rentals they can afford


NotUnstoned t1_jegd9gn wrote

Do you know 1000 young people, period? I know plenty of couples and a few individuals (all mid 20s- early 30s) who could afford that rent.

The people that can afford it will, and they will leave the lower priced options available for others who can’t.


sexi_squidward t1_jefseyf wrote

Because there's a difference between cheap vs affordable housing. Every new complex, regardless of location, is branded as luxury housing.


DeltaNerd t1_jefx1h9 wrote

We need more apartments in the poor neighborhoods like Broad and Erie, or Erie and Torresdale. Those would be below $2000.


NotUnstoned t1_jegdgzr wrote

The city needs to give developers an incentive to build there. Nobody is going to spend millions on a development that won’t turn a profit for the next 30 years.