Ballantyne wants to keep out mixed-income housing. Thoughts?
Posted 24 February 2010 - 03:57 PM
Posted 24 February 2010 - 03:58 PM
We are not even talking about home ownership. We are taling about families of 4 making less than $20k per year....living in subsidized APARTMENTS.
Very few apartments out here, its kind of rural. Not much around.
Posted 24 February 2010 - 03:58 PM
Take a step back and look at this as a CFO for the county.
Can the county afford this? No
Could it create some jobs short term? Yes
Is the cost benefit greater than the non build? No, but debatable.
Will infrastructure have to be updated? Yes
Is the current schools at all levels at or near capacity? Not sure. Probably so.
Does this address the current foreclosure issue within the county? not at all
Are we certain those renting can actually afford their rent based on current debt to income? Not sure
Why are we really doing this? Guys from Republic know guys from CHA.
Do we know if anyone on the board lives near this area and is there a conflict of interest with this potential build? Know of one, Mr.Cannon. Not sure on the others.
Do we know if anyone on the board owns land/property in the area and stands to gain financially? How dare you ask but not sure.
Posted 24 February 2010 - 04:09 PM
if there's intrinsic value in the land.
ay, there's the rub
Posted 24 February 2010 - 04:44 PM
What difference does it make? The point is that there are expensive houses very close to pooty houses and those pooty houses don't crush the value of the better ones - if there's intrinsic value in the land.
My only point is that the people proposed to live in this community couldn't even afford to purchase the foreclosed home that you mention is in such close proximity to the higher value home u mention. BTW, a foreclosure short sell price is HARDLY a credible example of a loe income housing working near to a high value area. It's a foreclosure for a reason!
Posted 24 February 2010 - 04:56 PM
And some of those nice houses are foreclosures too. A foreclosure doesn't automatically mean someone is poor or a degenerate. With the crashing of the housing market it was the smart thing to do for some people.
Posted 25 February 2010 - 01:15 PM
The essence of the deal was that Ballantyne would receive tax-funded roads (keep in mind, nobody lived there at the time so it wasn't Ballantyne tax money) in exchange for allowing below-market housing.
The city is officially divided into districts (and further into little known NSAs), each district -- with the glaring exception of one -- has below-market housing.
Ballantyne isn't exclusive, it's not special, it's not gated. It's as much a part of Charlotte as Eastland, Myers Park, Grier Heights, University City, or Belmont.
Time to pay the Piper.
Edited by Bobby, 25 February 2010 - 01:22 PM.
Posted 25 February 2010 - 01:18 PM
Apperently Ballantyne has to allow below-market housing as part of it's rezoning agreement which was ratified in 1991.
The rezoning has to do with where the parcel is. Just because below market housing was ratified in 1991, you can't build it on land denoted for commercial use without rezoning the land.
Posted 25 February 2010 - 04:27 PM
We were told a lot about I-485 and the planned Ballantyne development when we bought - it was a great selling point. Let's see, I think this was in 1985 when we bought. And yes, Ballantyne was planned to be a development that had all price points - or that's what they said. My husband and I always knew that we'd end up with another house one day, and we actually waited for Ballantyne. I mentioned earlier in the thread that we were invited to the groundbreaking and went on tours and parties for this new property. The first homes were nowhere near affordable for us - and we actually had a pretty decent budget, so that's why we ended up elsewhere.
But anyway, yes, this development was touted as being a mixed use development for a low price point, middle price points, and high price points. That's not what happened.
Edited by Go To Girl, 25 February 2010 - 04:29 PM.
Posted 25 February 2010 - 04:31 PM
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