Vestcor at it again - Lofts at Cathedral

[Tacachale]

^Long term, I think we'll be happy that we have embraced workforce and affordable housing Downtown. A lot of cities are struggling with gentrification and skyrocketing rents in their downtowns, including peers like Nashville. Additionally, rent's only going to keep climbing in Riverside-Avondale, San Marco, and Springfield, and that's likely bleed over into surrounding neighborhoods in time.

[fieldafm]

^Long term, I think we'll be happy that we have embraced workforce and affordable housing Downtown. A lot of cities are struggling with gentrification and skyrocketing rents in their downtowns, including peers like Nashville. Additionally, rent's only going to keep climbing in Riverside-Avondale, San Marco, and Springfield, and that's likely bleed over into surrounding neighborhoods in time.

This is definitely an area where its fair to give DIA an A+. Long overdue.  Now the next step is to create a by-right product for smaller, local investors to be able to build smaller multifamily housing developments (think 4-10 unit buildings) that can be rented at fair rates, without having to rely on such subsidies. That's the 'missing middle' housing solution that downtown and the surrounding urban core neighborhoods (save for Springfield, Riverside, etc) once had but are now missing.  Fortunately, there is a development team working on this very project 


https://www.moderncities.com/article/2017-jan-the-missing-middle-affordable-housing-solution

https://www.thejaxsonmag.com/article/modern-row-homes-proposed-for-springfield/

[MusicMan]

What is the cost to build these?  I always liked the brick row homes Ennis had a hand in on 6th Street.

[Ken_FSU]

Vestcor closed on the property today.