I’m in favor of low income housing but do I understand the numbers correctly? $28.2 million to build 70 units?
If the article is correct, that is $400k per unit. Half of which are studios and other half one bedrooms. And that’s just the construction cost according to the article.
How does that make sense when a three bedroom house including the cost of land is $500k according to Redfin?
What are we missing in understanding this?
Please explain the inappropriate content below.
