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$25M affordable housing development opens in Scotlandville
Posted on 8/2/23 at 1:19 pm
Posted on 8/2/23 at 1:19 pm
Over/under on first shooting to take place?
10
Posted on 8/2/23 at 1:19 pm to GuidoVestieri
El Cid Norte
Posted on 8/2/23 at 1:20 pm to GuidoVestieri
It will need major renovations within 5 years or less
Posted on 8/2/23 at 1:22 pm to GuidoVestieri
I bet there was $250k in total materials and the rest was mainly payoffs.
Posted on 8/2/23 at 1:22 pm to Boston911
There are only 84 apartments. So it cost them $297,619 to build each?
Posted on 8/2/23 at 1:22 pm to teke184
"In 2018 we were asked to step in and provide relocation vouchers," said the CEO of the East Baton Rouge Regional Housing Authority, J. Wesley Daniels. "If you remember this property it was really a horrible place to live."
Posted on 8/2/23 at 1:23 pm to GuidoVestieri
quote:
There are only 84 apartments. So it cost them $297,619 to build each?
Absolutely not. It cost you that much
Posted on 8/2/23 at 1:26 pm to GuidoVestieri
quote:
"If you remember this property it was really a horrible place to live."
Posted on 8/2/23 at 1:38 pm to GuidoVestieri
25% of the cost is going to legal, accounting, syndication fees, tax credit fees, etc.
Posted on 8/2/23 at 1:40 pm to GuidoVestieri
Maybe they can organize the Town of St. Scott and draw the new town boundary to cut out the new development.
Posted on 8/2/23 at 1:41 pm to TBoy
“Affordable housing” is still probably worth more than the average property out there.
fricking area looks like the Last King of Scotland is running it.
fricking area looks like the Last King of Scotland is running it.
Posted on 8/2/23 at 1:48 pm to GuidoVestieri
Posted on 8/2/23 at 1:50 pm to GuidoVestieri
I used to work construction
Imagine your company gets the job to build it and assigns you to run it
Would request a change order for 24 hour armed security
Imagine your company gets the job to build it and assigns you to run it
Would request a change order for 24 hour armed security
Posted on 8/2/23 at 1:55 pm to GuidoVestieri
3:50pm Central Standard Time
Posted on 8/2/23 at 1:57 pm to GuidoVestieri
quote:
There are only 84 apartments. So it cost them $297,619 to build each?
This sounds like a high end affordable housing apartment complex.
Posted on 8/2/23 at 2:25 pm to tigeralum06
quote:
25% of the cost is going to legal, accounting, syndication fees, tax credit fees, etc.
Add in land value and other miscellaneous soft costs and that figure is probably more like 40-50%. Local, State, and Fed gov agencies give out $ like it's candy at Halloween. Everyone involved will make money and everyone else pays for it. I see this all day, every day.
Posted on 8/2/23 at 3:20 pm to GuidoVestieri
It will be Hamsterdam from "The Wire"
Posted on 8/2/23 at 3:58 pm to Boston911
quote:
It will need a major reconstruction within 5 years or less
fixed
Posted on 8/2/23 at 4:26 pm to Goldensammy
I’m working on a certification for one right now in north BR. Hard costs are 70% of total TDC. It’s even worse in states like CA.
Posted on 8/2/23 at 4:33 pm to Taxing Tiger
How much is the corruption tax?
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