Karla Arens: Convenient conjecture in Nevada City
May 11, 2017
When the Nevada City Planning Commission reviewed the 71 unit housing project known as The Grove, they failed to condition the approval upon the developer's compliance with the city ordinance that requires 30 percent of all new lots to be affordable housing by either a deed restriction or an affordable housing plan.
To clarify, the developer does have a plan, of sorts. His theoretical idea is — now follow this — since the new project is close to town and walkable (maybe for some) future buyers will need only one car thereby reducing their monthly vehicle expenses by $850 which can then be applied to a mortgage payment which will make the starting price of $410k ( not including HA fees) affordable.
Huh? Will only one car possession then become a condition to purchase? A real plan would include design features that would actually reduce the cost of the house.
Unfortunately, the price point of this project will preclude our local workers from homeownership and those who can afford it will more than likely be equity elites from out of the area.
Here's hoping the City Council will insist on a plan based on real ideas rather than convenient conjecture.
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