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Wow only about $270k per house and sell for $70-100k. No wonder the city cant afford to fix the roads.
The money to build those houses doesnt come from the city or local tax dollars. This is a state tax incentive project and the money actually comes from private investors.
Opportunities to improve lives and neighborhoods with housing reflects a sound use of funds. Monies derive from different sources and are not interchangeable. Tax increment financing and the longer-term benefit of placemaking and tax-generating properties that may enrich the general fund so that it could be tapped for future roadway maintenance funds. In the interim, one can use alternate roadways or slow down along along roadway segments in perceptually poor condition. The greatest impediment to roadway maintenance repairs is limited funding. Taxes and other funds dedicated to roadway maintenance are much less than the need. Which roadways should be prioritized for repair and what is justification for the ranking?
The money to build those houses doesnt come from the city or local tax dollars. This is a state tax incentive project and the money actually comes from private investors.
This seems like a really neat idea and I hope they have every success. Although, it is too bad the houses (at least the one depicted) aren’t more traditionally designed; having a flat roof and other more ‘commercial’ cladding features may lead to more expensive maintenance costs over the years compared to a normal sloped roof and front porch.
Why doesnt IBJ call this downtown? Northside doesnt start until at least 56th St.
Downtown stops somewhere around 16th Street. This is the “Near-North Side”, a neighborhood just north of Downtown. After UNIGOV, the part of town called the “North Side” turned into “Near North Side.” Same for the other parts of Center Township that aren’t Downtown.
Does anyone know the actual address for these homes?