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Make the Castleton Strategic Plan happen.
That price for a studio, especially in that area, is absolutely insane. And lol at the “affordable” units still being very high priced.
You can’t walk to anything from that area. I guess maybe the Speedway gas station. But its a half mile just to get out of the complex to 82nd. Then you have to cross 82nd, which is a deathtrap for pedestrians.
Might as well pay the rent downtown or Midtown Carmel. You’d get the same or similar space for the same or better price and have far better access to amenities.
Agreed.
IBJ should do a deep dive into TIF districts. The politicians and planners using them rarely understand what they are, and the taxpaying public certainly does not. Is it really cheaper to subsidize housing via gifts to developers? Do we really need to pay developers to build apartments in this area? This citizen suspects all TIFs of being great for everyone except the taxpayers, who are almost always the last to be considered in these deals.
I’m not sure a $900/month studio is “Affordable”?!? It’s also a half mile walk out to 82nd street and a bus line. This sounds a little like a tax give-away rather than a serious attempt at affordable housing.
A rough calculation shows they will be giving up about $200,000 a year to get $12 million. To borrow $12million for 30 years at current interest rates should cost almost $900,000 a year.
We walk down to the Montage and sometimes as far as Nora from Dean and Allisonville road. There are sidewalks now under Keystone. Also, crosswalks and pedestrian crossings signals have been installed at the main entrance Clearwater Springs shopping center.