QuoteTax abatements to cut the building costs and pad the profits on affordable housing are not enough to insure that for-profit RE mgmt companies provide reasonable and well maintained common areas for low income residents.
If tax abatements are needed to make a project viable, it takes no genius to know that every trick to increase profit will be used.
But if you think the most holy and sanctified 'market; is the medium which people are pre-ordained to interact with the universe. Then I suppose tax abatements are all you can come up with.
All you can do is sing a happy song and remember dreams are free. But rent most people will pay until the day they die. Average rent for a two-bedroom apartment in New York City was around $3,000 to $5,000 per month recently.
