It’s even worse then that. “Affordable Housing” doesn’t mean that it’s cheap/small. It’s usually used as a euphemism for “subsidized housing”. Usually the property is still privately owned, but through a deal setup before the construction the developer is forced to rent out the “affordable housing” units at something like 70% of market rate for 20+ years.
It’s even worse then that. “Affordable Housing” doesn’t mean that it’s cheap/small. It’s usually used as a euphemism for “subsidized housing”. Usually the property is still privately owned, but through a deal setup before the construction the developer is forced to rent out the “affordable housing” units at something like 70% of market rate for 20+ years.