Proof-Variation7005 t1_jbt0voy wrote on March 11, 2023 at 2:13 PM

Reply to comment by JoeFortune1 in Fane Tower project in Providence is dead by Ph886

I think building affordable housing at the scale needed to make a dent takes a lot more than one parcel of land. And the city and state definitely can not afford it.

The net result of this tower not happening is we’ll have the same increasing amount of people competing for an amount of housing that isn’t increasing proportionally. Realistically, we need to be adding thousands apartments at every price point. Prices will always be high if demand outpaces supply

JoeFortune1 t1_jbtkwvw wrote on March 11, 2023 at 4:40 PM

I could be incorrect but from what I’ve seen there have been multiple towers and other luxury buildings opened to high end buyers/tenants that had a very difficult time filling up and with a lot of empty spaces. Building these high end towers might theoretically lower prices down the road a few years-maybe.

The state needs to be creative and make some budgetary changes in order to afford to build housing. The state can’t afford it and people can’t afford their rent. So the only solution I ever see proposed is to build luxury condos. It’s a stretch to say this will benefit the working class and poor