..Madison housing crisis
The issue: As the student population at the University of Wisconsin and the city of Madison continues to grow, so does the housing crisis. The increase of luxury apartments such as The James and The Hub only add to the challenge of finding affordable housing downtown. The Madison City Council recently approved another housing development from developer Core Spaces, which will come to Johnson and Bassett by 2026. The development will contain no low-income housing, a measure that received criticism from some alders.
What to watch: Luxury housing developers are likely to continue staking out the downtown Madison area as a viable housing development zone. UW’s response to the housing crisis was to admit a slightly smaller freshmen class in 2023 with the goal of reducing demand for off-campus housing in the future. Renters should consider what kinds of amenities they really need while living close to a campus that offers things like gym facilities, as these add-ons often drive up housing costs. With some luxury apartments reserving spaces for low-income renters and with prevalent attitudes that building more units will eventually relieve pressure of housing demand, students should continue to monitor housing affordability......more
Ken Notes: Can`t we as developer to build housing communities with an array of pricing options.
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- - Volume: 11 - WEEK: 38 Date: 9/21/2023 2:44:30 PM -