Why is Affordable housing so expensive?
From Coby Lefkowitz in Building Optimism: In Los Angeles, “luxury” units in non-high-rises can be delivered for around $300,000 to $400,000 per unit. Non-“luxury” market rate units can be completed for half of that, conditional on their size and location. Capital “A” Affordable units, on the other hand, can cost more than $850,000 for what…