That’s a big "it depends".
In some towns there are so many condos/apt. buildings going up that the locals who are the backbone staff for many local businesses are being forced out of town as they can no longer afford a place in town due to the rising rents.
These same apartment buildings get huge tax breaks and incentives which can’t make up for the undue stress the extra population puts onto the municipal services, and educational services of the town.
So… raise taxes on everybody in town.
Back to affordability, those apartment rental rates I mentioned; I can think of one building Where the rates were reasonable, say $1,500 or below for a one bedroom, the new building is $4,000 and above.
I was in a local the other day and happened to strike up a conversation with the guy next to me, turns out he had just moved into one of these new buildings, he was the type of guy who almost immediately finds a way to let you know just who he is and what he does… turns out he’s shelling out $6K a month for a two bedroom, enjoy that buddy.
Meanwhile the people who used to be able to live in the previous building had to move, can’t find another place in town they can afford so they end up moving out of town and have to shell out transportation fees to get to work because they can’t afford to buy a car which they never needed nor wanted before.
they are big, ugly, new buildings which don’t fit into the landscape and stick out like sore thumbs.
But… that’s the story, it happens again and again, it happens here and there, it’s been going on for years, while it slowed for awhile, it’s picking up speed again.
Kiowa_Jones t1_jdv2yqp wrote
Reply to comment by Top_Ad5385 in Drove through Downtown Plainfield the other day by Top_Ad5385
That’s a big "it depends". In some towns there are so many condos/apt. buildings going up that the locals who are the backbone staff for many local businesses are being forced out of town as they can no longer afford a place in town due to the rising rents.
These same apartment buildings get huge tax breaks and incentives which can’t make up for the undue stress the extra population puts onto the municipal services, and educational services of the town. So… raise taxes on everybody in town.
Back to affordability, those apartment rental rates I mentioned; I can think of one building Where the rates were reasonable, say $1,500 or below for a one bedroom, the new building is $4,000 and above. I was in a local the other day and happened to strike up a conversation with the guy next to me, turns out he had just moved into one of these new buildings, he was the type of guy who almost immediately finds a way to let you know just who he is and what he does… turns out he’s shelling out $6K a month for a two bedroom, enjoy that buddy.
Meanwhile the people who used to be able to live in the previous building had to move, can’t find another place in town they can afford so they end up moving out of town and have to shell out transportation fees to get to work because they can’t afford to buy a car which they never needed nor wanted before.
they are big, ugly, new buildings which don’t fit into the landscape and stick out like sore thumbs.
But… that’s the story, it happens again and again, it happens here and there, it’s been going on for years, while it slowed for awhile, it’s picking up speed again.